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Expatriation tax: http://www.irs.gov/businesses/small/international/article/0,,id=97245,00.html

And that is the point. The sponsors of the bill ostensibly want people to buy and hold rather than do short-term speculation, in order to lend stability to the markets. Other supporters like Krugman are even more specific: they hate high frequency traders who don't do anything socially redeeming...

I think most of Schwab's revenue is from its advisory services. Their active daytraders, especially from Cybertrader, have probably long left for less expensive firms. My point is that if the cost difference between brokers is now less than a third instead of a factor of 10, the brokers will...

Since it hits all traders equally, no matter what broker, it would change the trade cost to be $21 at places like IB and $28.95 at places like Schwab. This would hurt IB more than Schwab, as people would see they're now saving less than 1/3 by going to a broker that has longer phone support...

The daytrading business will be injured. But discount brokers like Schwab will survive. My first stock purchase was $5K worth of SUNW in 1987. From Schwab. The commission was around 2%. I held onto it through 5 splits. I'm not sure non-daytraders are buying GOOG right now, but suppose a mom and...

Sounds like this will *not* affect the vast majority of investors, only high-frequency traders.

This wouldn't happen if only quality, diversified companies went public. Companies that consistently lose money (like VG), companies that are selling something that is commoditized (like VMW), companies that have basically a single customer (STEC) should not be public. You don't see companies...

Maybe they won't move in crazy ways. Maybe they'll move based on their fundamentals and not on manipulation. Maybe half the listed companies that shouldn't have gone public because they have negative PE and a dubious business plan will get delisted. Maybe people will invest in a company so that...

Pro athletes are their own ecosystem. I haven't been to a live game in 35 years. If people want to pay $50 to watch mercenaries battle each other, let them. I haven't been to a movie in 4 years. Again, if people want to pay $12 to sit arm-to-arm with other people for two hours, that's fine...

If oil futures had been limited to oil suppliers and oil consumers, the price would have been based on supply and demand, not inflation, speculation, etc.

It was not that long ago that we had 1/4 and 1/8 ticks, meaning the spread was often half a percent or more. Despite this, the market went up an average of 11% per year and millions of traders and investors managed to make money.

This is well put. But they also need to penalize the guilty parties in cases like AIG, which (a) had losses, not windfall profits, last year and (b) had an offshore subsidiary (in AIG's case, London) doing most of the damage.

OK. Would not be surprised if they intended to include forex. They might need to tighten up the wording a bit. The loose wording in the online gambling prohibition act is why the Fed is delaying its implementation.

It is certainly heavy-handed, but any short-term efficiency gain has to balanced by the long-term damage that things like $140 oil did to the country. [b] Thus returning us to the gentler period 50 years ago, where you invested in a company for the long haul, got dividends, took an actual...

Unless the bill has changed, it covers only section 31 and CFTC instruments, not forex.

The world is full of excise taxes and sales taxes. [b] Yes, they're trying to destroy te business of speculation. [b] It will only penalize speculators. Yes, that includes you and me. It includes GS employees who are getting paid an average of $700K this year. It does really affect mom...

Some people say that GDX is "due" to "catch up" with gold prices. Maybe that's happening today, with GDX up 6%.

I can easily see them either taxing transactions made by US taxpayers on foreign exchanges, or like today with foreign derivatives, just making it illegal to trade them. DeFazio also has an oil futures transaction tax bill pending. .2% on futures. He claims it'll cut down on speculation and...

Congresspeople (of either party) are in office to help their constituents. If that means taxing those rich New Yawkers to get money to pay for that new coal mine, they owe it to their constituents to vote that way.

Not a good idea to say this. They will flag your name and the IRS will make sure to look at your offshore activity to make sure you pay taxes.