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You people fear too much, there will be no tax on transaction coming from congress anytime soon. Focus on your trading and forget this garbage. Same shit from the same guy, with the same support, which is none.

The drudge report is carrying the hill article on its main page in the center bright red. There is a huge backlash against this tax proposal just starting, there is no way in hell this tax becomes law. www.drudgereport.com/

Absolutely my friend, fear of government should never enter a citizens mind. World governments will not survive the next century in their current forms.

The derivatives tax was abolished this year, also know as CTT in India. http://in.reuters.com/article/domesticNews/idINBOM54634420090706

Only on stock purchases, there isn't a country in the world that has a transaction tax on derivates other than stocks. With the recent exception of Brazil, but that only applies to foreign investors, not domestic. The tax had zero chances of being implemented by this congress.

I'd be a bond vulture, there is a lot of high quality debt trading outside of the US very undervalued, especially in Russia.

I will have nothing to do with anything related to brazil. I would only invest in RIC countries, especially after they put the foreign tax in place on their capital markets.

Merkel aides have ruled out support of the tax after their election victory, and there is no proof whatsoever that the Obama administration is or is willing to support the tax. This is the guardian trying to drum up support that isn't there. The tax is dead and has no chance whatsoever of...

I second that!

He's a safe democunt, he's not going anywhere. He has no productive skills necessary to make it in the private sector.

Scalping with a 8 tick stop, your comm rate and 5 tick profit and a 70% win rate, you end up with $100 profit per contract with 100 round turn trades. With taking 4 ticks profit, you end up with $250 lose per contract. It can be done consistently, I've done it with CL for the past year, with a 5...

What's your calculus to infer that prices are over valued by 25-50% nationally?

TUC is a union, not the government. Even as Brown brought up the idea of a financial transaction tax, he said he wouldn't act unilaterally. There is zero chance of a transaction tax on an international level. With that said, the tax is dead in the US.

Well what defazio did was attack Mr. Obama's ability to manage his administration. If I were defazio I would lick my wounds and hide for the next 3 years.

Yeah, no one wants to talk to Rangel over the tax, because they know he would tear them a new one. Hoyer was less than enthusiastic in mentioning the tax as a possible option and Slaughter wasn't signing on without international participation, which isn't going to happen. For the tax to have...

Irregardless of anything that is proposed on an international stage or domestically, the tax can't pass the Senate. The Senate is where bills go to die ;)

Anyway you spin it, the support among key legislators for this issue isn't there. Even the administration came out against in on an international level. The numbers are to big in the US to implement such a levy. Finance is to interconnected in the daily lives of people in the US. In addition...

When all is said and done and the Senate and House bills are reconciled, there will be an exemption. I don't see the repeal of the exemption surviving the legislative process.

He has absolutely zero pull with this administration. He messed up when it came to the stimulus vote and voted against it. He also keeps calling out Summers, I think he has a secret death wish when it comes to his proposed legislation. Defazio is a bottom feeding legislator with no pull in...

Thanks rsikit, it seem to me that we will starting to see some key figures distance themselves from this proposal. I don't believe we will see a transaction tax in 2010.