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We are part of Main Street. Nobody will give us bailouts if we lose money. We don't have lobbyists to push for laws in our favor. And if we decide to leave trading nobody will offer us a job at the top of some government agency. We just happen to earn a living from the markets but we're in the...

Members of both the Budget and Ways and Means Committees: Becerra, Xavier, California, 31st Nunes, Devin, California, 21st Yarmuth, John A., Kentucky, 3rd Etheridge, Bob, North Carolina, 2nd Blumenauer, Earl, Oregon 3rd Schwartz, Allyson Y., Pennsylvania, 13th Doggett, Lloyd, Texas...

Same correction: Ryan, Paul, Wisconsin, 1st is NOT a co-sponsor. Unfortunately, the remaining co-sponsor on this Committee becomes Chair if Rangel is forced out.

Correction: Ryan, Paul, Wisconsin, 1st is NOT a co-sponsor of 4191.

Sounds good. The focus then should be the Ways and Means Committee. As I noted earlier, if the bill passes the other two committees, then it will pass the Rules Committee in a manner that biases its passage through the House. Obviously we shouldn't ignore the Budget Committee but I think the...

This is true. However, the general public may not actually care about the average daytrader. Many of them view day traders as leeches on society who should be exterminated. The problem, of course, is the financial illiteracy of the general public.

This is the way I segment the pro-tax crowd: 1. Ideological elitists: This group consists of those who are engaged in an ideological war on the financial markets for whatever reason. Examples include DeFazio, Baker, and Krugman. 2. Pragmatic elitists: This group does not care much one way or...

The spreadsheet computes the 0.25% tax at the beginning of the year for the purchase and 0.25% at the end for the sale. Therefore, for computational purposes, the rebalance in year N consists of a sale at the end of year N and a purchase at the beginning of year N + 1.

Yes, that was the point I was making in my last post. My approach has been low-profile. However, if something else becomes necessary later, the blog will be built up in the meantime. I have found that it still functions as an effective tool when engaging in debates with individuals. Thanks...

I don't know at this point. Seasideheights and others here are of the opinion that a low-profile approach is best. My focus until now has been to debate the issue with individual members of the pro-tax crowd and direct them to the blog for further reading. It's a low-profile approach compatible...

Some do, although I'm not the NY Times. But my blog is still new and I'm going to continue to build up the content over time.

I created a blog dedicated to explaining these issues to non-traders. Some of the posts cover the points mentioned above: Misconception #1 Misconception #2 H.R. 4191: Some Comments I will be writing up more points over time. Feel free to use any that you think would be helpful.

Regarding the Ways and Means Committee, the best chance for the bill to die without ever coming up for a floor vote is here. It is currently chaired by Charles Rangel. However, if he steps aside for whatever reason then Pete Stark becomes Chair. He is a co-sponsor of 4191. Kind of bad luck on...

A note on the composition of the Rules Committee: It has 13 members: 9 Democrats, 4 Republicans. It also has 4 co-sponsors of 4191 (all Democrats). The Chair of the Committee is Louis Slaughter, one of the co-sponsors. This effectively means that the Committee will be able to set the rules...

I don't have a list of this but you can get the information for individuals from the House website.

Ways and Means Committee: Davis, Artur, Alabama, 7th Becerra, Xavier, California, 31st Herger, Wally, California, 2nd Nunes, Devin, California, 21st Sanchez, Linda, California, 39th Stark, Fortney Pete, California, 13th Thompson, Mike, California, 1st Larson, John B., Connecticut, 1st...

Rules Committee: Cardoza, Dennis, California, 18th Dreier, David, California, 26th Matsui, Doris O., California, 5th Perlmutter, Ed, Colorado, 7th Polis, Jared, Colorado, 2nd Diaz-Balart, Lincoln, Florida, 21st Hastings, Alcee L., Florida, 23rd Pingree, Chellie, Maine, 1st McGovern...

Kaptur, Marcy, Ohio, 9th Ryan, Paul, Wisconsin, 1st These two from the House are on the Budget Committee and are co-sponsors of 4191.

I believe this was mentioned before but the best thing would be to get the legislation killed in committee. The House bill is before the Ways and Means, Rules, and Budget Committees. I am putting all the members of the committees into a spreadsheet. Below is a list of the members of the House...

He is referring to H.R. 1068. In its "current form" could leave him enough wiggle room to agree to H.R. 4191 or some other future version.