Search results

An ecn exchange is a room full of servers, don't you think Dubai, Hong Kong, Switzerland, or other country has are room for a few servers. If a few 10ths of a penny rebate affect what ecns people trade from now, imagine a .25 transaction tax thrown in the mix.... The US exchanges will perish.

"Some liberal lawmakers have signed on to a proposal by Rep. Peter DeFazio (D-Ore.) to fund a jobs bill and other spending priorities with a new tax on financial transactions, but that idea has drawn little support from Democratic leaders and staunch opposition from the Treasury Department as...

What is the haircut on overnight leverage?

You are right I just read this on the Cato Institutes site: The No. 4 Democrat in the House, Representative John Larson, said his proposal to impose a 0.25 percent tax on over-the-counter derivatives transactions would apply internationally. “Part of our proposal would include that it...

Not so, when is the last time you paid sales tax to the US while traveling abroad? Or any tax other than on the income you make for that matter? As for socialism, Canada is ahead of the US in the race to that end. New Zealand would be a better option for you in that respect. BTW, you have...

Sorry big guy, the big wall street lobby is on our side in this case. They stand to lose more in lost tranactions business than they would gain making markets. Who do you think clears all of the transactions that take place? And the exchanges would be a net loser by far.

Trading will just move to exchanges outside the US, there will be no need to become an expat. This is the problem that the dems keep running into. It is the very reason Pelosi, Barney Frank, and others have talked it down recently. The far left does not understand this fact and that is why it...

Here is the paradox: This tax is pushed to raise billions per year from all of the speculative transactions that occur in our "bloated" markets. Best of all it will eliminate the speculators and their speculative activity that make up most of the taxable transactions in the bloated markets...

I agree to a certian extent. However, it is good to point out that other exchanges are ready and willing to take our transaction business. This needs to be pointed out to the pro tax crowd domestically (media, bloggers, congressmen) who are less informed and nieve regarding this unintended...

It is easy to see other exchanges providing dual listings on all of our securities the way we do with ADR's. Most futures already trade on other exchanges as well. People will trade where it is cheapest to transact.

This tax is on transactions done on US exchanges. Example: British citizens do not pay their government for trades they place on the NYSE or any other exchange for that matter even if they have a transaction levy on stocks traded in the UK. The same can be said for any other country with a...

I added some new talking points. Feel free to use them or paraphrase in the future: Consider this: I live in a small town in FL and had nothing to do with the current financial crisis we are in. I trade for a living and would be put out of business with this tax. I will be forced to...

Keep it civil this is a good thread. We are fighting a tax not each others political views here.

Good point; will do.

I agree 100%. I write a comment on virtually every article. It does not take very long after the first comment because you can use similar bullet points. Folks, take a few minutes out of your day to comment. If time is a problems simply paraphrase. I support a family run a side business and...

Go homeless like he did? That might very well happen to some people if this type of tax is put in place. This guy is the biggest joke on TV. Anything he says needs to be taken with a grain of salt. Remember his buy Bear Stearns call a week before it imploded. We should really start a...

The pro tax crowd have had a long time to get their facts straight, and now it looks like the opponents are sharpening the argument against it. The low cost etf example was a good one.

I submitted a post against the tax and criticising the overall conspiracy theorist, pitchfork mob behavior that the site fosters and they never posted it. For a finance blog there sure are alot of anti capitalism types lurking around.

It is good to see comments from the big players on the left. Most agree it would need to be an international effort. Good luck getting the entire international community to come together on anything much less something as esoteric as a transaction tax. It would only take a few hold outs to keep...