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I agree...libertad start it up!! :D

Yes, so you would pay $30 R/T But what you are missing is that liquidity in all futures market will dry up big time...making it even more hazardous to trade. Sheesh, its hard enough to make a profit with $3-4 R/T commish...now we are fighting an uphill battle is trying to recoup tax and...

What is gonna happen, is that if this tax seems more and more likely...like right now...the markets will go into free fall...wiping out Billions, if not Trillions of wealth...that is the only way for wall street to make a statement. Imagine us going down 20% in a few days...seeing more wealth...

You will be taxed once the transaction is done...no matter what broker, it has to go through the US exchanges and it will be tax immediately.

0.02% - on nominal value of $55,000 per ES contract....$22 R/T. That would still kill a lot of liquidity!!! Stock are even more f*cked at .25%!! It's all INSANE!!

Wall street will sell everything, it started yesterday afternoon when we heard the transaction tax was officially introduced and right after the segment today on cnbs in which Kudlow stated Geitner may be in favor of this tax.... All I know is that if this tax gets enacted...and we are still...

Guru...see my PM. But, it was Larry Kudlow on the trader tax segment who said he heard Geitner now maybe in favor of the tax...it's more than hearsay, but nothing official. Articles yesterday evening hinted to Geitner maybe being for the tax.

This market is tanking because of this tax! It did last afternoon when we heard it being introduced officially...now we have Geitner maybe wanting it. Markets will be down 30%+ if this gets enacted...and guess what....wall street is SELLING HARD and will DO to get the point across!!! SO SELL!

This guy for the tax summed it up...the gubernment DOESN'T need the revenue for jobs, etc, it is to KILL traders and capitalism...IT'S A F*CKING AGENDA OF THE SOCIALIST!!! THESE GUYS CANNOT USE A CALCULATOR!!

Yes...I posted earlier about this...a study needs to be done to show how this would be revenue net negative!! For ex., are they computing the $170B in tax revenue based on current market volume?? HA! Volume will go down 70%...so they need to readjust the expected tax revenue down 50-70%...then...

What people need to understand is that the tax is really double all that. If you buy 1 ES with a nominal value of $55,000, the buyer pays the .002 and the seller pays the .002, in which for only $55,000 exchanged, the gubernment is getting now .004. Same with stocks. Gubernment gets 0.50 now...

And this tax has nothing to do with "the drag on the government due to recent financial collapse". The gov will make $$ on TARP. This is a socialist agenda, same with cap & trade and public health care, they are shoving down our throats. They hate capitalism, speculators, and wall street...

I want to know how they get the $170B number? Is it based on current volume? Because volume would drop 70% in this tax. Someone has to prove that this is revenue net negative! lets say volume drops 50%...they bring in $70B...but how much do they lose out on in income & capital gains tax from...

What needs to be said...is that 70-90% of the volume...aka liquidity, is done by short term traders...whether the marker makers, program trading, arb trading, prop trading or the little guys at home in their underwear. This tax puts all of them out of business...I am mean short term as in the...

Here is the perfect look into a liberal, socialist mind...and the spin they do! Tax and spend, rinse and repeat. They want to kill all free enterprise, free markets and capitalism. The mutual fund mangers pay this tax and pass along with dramatically lowered performance due to this tax and the...

I agree...and Nov 2010 CANNOT get here quick enough!

These liberal clowns need to go bye bye...one way or the other :D How long have these yoyo's been in office anyways??

Also said in the article: "But analysts said it still faces long odds due to opposition from prominent lawmakers and the Obama administration."

This is what is needed to get the trans tax hawks off of our backs. GS and JPM already said they wanted to pay it all back, and the Gov wouldn't let them...so now maybe they can soon.

Guys & Gals, here is another article that has 34 pages of responses: http://thehill.com//homenews/house/69295-dems-push-wall-street-150b-s