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Though once there were "published" tax rates of 70-91%, very few ever paid taxes at those rates. Back then, there was something called "leveraged non-recourse tax shelters" that wealthy people used to eliminate as much as two-thirds of their tax burden. In addition, most very wealthy individuals...

It's not just about geography. The Israelis serve our pupose because they're very smart and able to take advange of the geography in a way that others can't. If you haven't been there, I'd advise you to do so if you really want to understand the Middle East situation Regarding government...

You're just figuring this out now?

Close to the biggest oil reserves on the planet. You don't think that's leverage?

California's been doing it for years. It works like this: 1) The politicians promise those on welfare even more welfare. 2) Those on welfare elect the politicians who promise them even more welfare. 3) California now has 12% of the country's population and 32% of all the welfare...

So, you're saying they "beg" for money and we give it to them even though they have no leverage?

They don't beg for anything. They're smart negotiators. They get what they want.

And they're smart enough to get them.

Nobel Prizes won by Jews: 185 Nobel Prizes won by Israelis: 10 Nobel prizes won by Iranians: 1 Beersheba, in Israel, has more chess Grandmasters per capita than any other city in the world.

What you say is true, but it's more complex than that. The federal government sets a baseline and states can't pay less or make getting benefits more difficult than what the feds require. However, the states can make it easier and pay more benefits if they pay the difference out of their own...

They're moving to California, the state with the least work requirements and most handouts. See my previous post above.

They have moved to the blue states. California has 12% of the nation's population and 32% of all welfare recipients (up from 21% in 1996). http://online.wsj.com/article/SB10001424052702304537904577277242682364690.html?mod=WSJ_Opinion_LEADTop "From the mid-1980s to 2005, California's...

Contrary to your statement, no one claimed that all Christian schools use the same textbooks and teach the same curriculum as secular schools. The fact is, most Christian schools use the same books and teach the same curriculum as secular schools. Your own data prove it. Nineteen of 119...

Unfortunately, guys like that can never be convinced that they're wrong. Now that he's staked out his position, he'll continue to defend the FTT no matter how much evidence is presented against him.

US lawmakers are discussing a .03% FTT on futures and still others are demanding .05% tax which would put a $42-70 round trip FTT on the ES.

That's fine, but I'm trying to make clear that the current FTT proposals in the US and Europe are much higher -- by a factor of 10 to 30 times higher -- and will wipe out short-term traders in the USA and Europe.

I'm not familiar with FX, but a $14 per round trip (.01%) FTT will wipe out 90% of all short-term ES traders and a $42 per round trip tax will wipe out 100% of all short-term ES traders. There is no proposal for a .001% FTT in Europe or the US. The proposals are for .01% and .03% respectively...

That's not what's being proposed. In the EU the proposal is .01%, or $7 per side on an ES contract (at currrent ES value). In the US the proposal is .03%, or $21 per side on an ES contract.

What is being proposed in the EU (FTT likely to be implemented via enhanced cooperation) is .01% on futures and what is being proposed in the United States Congress (Harken bill) is .03%. These taxes amount to $14 per round trip and $42 per round trip respectively on the ES. My...

I applied the FTT to the three markets that I trade over the past 36 months. The FTT would have exceeded 100% of my trading profits in two of the three markets and 80% of my profits in the other market. I would suggest that anyone who has any doubts about the impact of the FTT on their...