U.S. To Hit Traders, Money Managers With A Tax Shot To The Gut

Discussion in 'Wall St. News' started by hippie, Jun 1, 2010.

  1. Will take this over a FTT any day...
  2. True. This mainly affects the bigger players.
  3. zdreg


    don't hope. work towards your goal . get involved in the political process.

    note the article says mr. green doesn't trust anything in this political climate:

    Better than a Financial Transaction Tax
    These tax changes will collectively raise the income tax bills of profitable investment managers. It’s unfortunate, but better than a nasty, industry-killing financial-transaction tax. A FTT is the worst-case scenario for traders, so its absence from this legislation is something to be thankful for. But I don't trust governments in today's "meltdown" environment.

    he is implying it could be revived at a later pt.
  4. Chausey


    Most bitter hardliners don't work in anything that has no direct monetary reward. Volunteering does not compute. No profit, no work. I wouldn't need to work at this if people like these damn socialists didn't exist. bitch bitch bitch, sit in chair, complain, login to account, see how much was lost. Complain on something called an Elite Trader forum, pretend I'm a big honcho.
  5. Welfare for big banks and for those who makes lots of babies out of wedlock. Some couples decided it is better not to get married so the woman can be a "single mom" get Section 8 for the whole family.

    This is better than to get married and have the father's paycheck included as "household income", thus the household not longer qualify for all the government help.
  6. Used to think same. One's as bad as the other. Just different methods.

    Hedgefund insider told me they were in DC one time "passing out money". Never mentioned lobbying. They were "passing out money"".
    So, what can we expect from the other side, if they are truly the "other side". I believe they are the same ilk, just milking the public with a different slogan.

    Lemme tell you, the public is enraged. It can't go on like this much more.
  7. I don't see what is so terrible about treating the income hedge fund managers earn from managing their funds as ordinary income. I think the "carried interest" ploy was an abusive scam that turned tax law on its head. Managers pretended they had an equity interest in their fund, but clearly they didn't, since they didn't share in losses. They risked nothing, other than not earning an incentive fee.

    I have nothing against managers getting paid an incentive fee or anything else they can convince investors to pay, but this type of income is clearly ordinary income, not cap gains.

    It galls me that congressmen can raise taxes on wage earners and investors while they let these fatcats use an obvious tax dodge.
  8. If you pimp em' out before 18 itsa twofer.
    That's why I have no trouble being a bitter hardliner. I figure my hardwork is what keeps us alive. As long as the wobbly legged folk lick my balls occasionally then it keeps me happy.
    #10     Jun 1, 2010