Why do you guys even trade ? If you are a US citizen you pay 35%taxes on stocks or a blend of long term and short term rate for futures, with the odds of making money against you to begin with , why waste your time ? I trade because I don't pay taxes , if I had to pay 35% , pff I would just stop . Not worth the effort and time.
why work if you pay taxes at %40. why wake up if your just going to go back to sleep? you my friend, iz an ahole
A job is different, you do your job and at the end of the day you are paid. Doesn't work like this in our line of work as you know. Now I say if you make money effortlessly and lots of it and reasonably expect it to continue for some time then great , but we suspect there may be only a few dozen people like that on here. No my question is more : what draws so many americans to trading since they pay such high taxes ? And isn' the short term capital gain tax totally UNAMERICAN ?
I trade because i live in UK so its also tax free for me.. And its an easy way to make a living until i get the job that i want. I dont get why anyone would want to pay tax on their trading income, just to get smaller spreads than us.
Probably, but then our tax system and tax rates are not determined by true Americans. They are determined by career politicians.
I always shake my head when I read your post you are a fool and will stay a fool unless you don't, but I am betting against you
Ok mate, i will go back to 'foolishly being tax-exempt', why you can go back to aying 40% tax and be fool-free!!
Not many things in life give you a shot based on your abilities alone (this may be oversimplified a bit). If you have a shot, however small, at making 6 figures and above, 35% is worth it.
There are several traders who made over $300,000,000 last year... do you think they're whining about taxes? One good year in this business and you can call it a career and retire if you wanted to -- or you can lose your entire life savings -- it's all up to the individual. Darwinism and Capitalism combined in all their beautiful glory! G-D bless those who gave their lives to provide and protect the freedoms and liberties we still enjoy.