Can't believe this thread is still going. I remember reading this before I was a member back in 2010. it's almost 2000 pages long!
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1/4% Tax on all stock trades pushed in NY Times today
- Thread starter seasideheights
- Start date
In the meantime the financial industry is lobbying the European parliament and governments, aggressively pushing for exemptions that would deprive the tax of any impact. The lobbying aims to exempt all non-financial companies, for example, as well as the now infamous "market-making" activities, that is proprietary trading. In a shameless effort to protect the vested interests of its wealthiest constituents, the British government decided to sue the European commission over the design of the tax. It was backed by Luxembourg.
This is not only about banks being taxed, it's about democracy.
http://www.guardian.co.uk/commentisfree/2013/jun/07/robin-hood-tax-under-attack
Dear oh dear..
A financial transaction tax makes so much good sense, I think in the end everyone except the HFT will get on board.
Without question, a tiny FTT is the easiest-to-implement fix for eliminating the dangers HFT poses for the markets. The tax can be made so small, and should be, that no one except HFT will notice. A tax set at the right level will drive the HFT out of business without affecting anyone else one iota.
Without question, a tiny FTT is the easiest-to-implement fix for eliminating the dangers HFT poses for the markets. The tax can be made so small, and should be, that no one except HFT will notice. A tax set at the right level will drive the HFT out of business without affecting anyone else one iota.
Quote from piezoe:
A financial transaction tax makes so much good sense, I think in the end everyone except the HFT will get on board.
Without question, a tiny FTT is the easiest-to-implement fix for eliminating the dangers HFT poses for the markets. The tax can be made so small, and should be, that no one except HFT will notice. A tax set at the right level will drive the HFT out of business without affecting anyone else one iota.
Oh lord. Why are you even saying this? Once any tiny tiny tax gets implemented, the socialists democrats will raise it. Stop this nonsense! I don't even trade stocks, just futures and forex, and all the tiny tiny taxes they want would severely hurt me, and I swing trade. They hurt because the leverage involved and they want to tax the nominal value, which is f*cking insane.
Quote from piezoe:
A financial transaction tax makes so much good sense, I think in the end everyone except the HFT will get on board.
Without question, a tiny FTT is the easiest-to-implement fix for eliminating the dangers HFT poses for the markets. The tax can be made so small, and should be, that no one except HFT will notice. A tax set at the right level will drive the HFT out of business without affecting anyone else one iota.
Its page 1828 . . .
A financial transaction tax makes so much good sense, I think in the end everyone except the HFT will get on board.
Without question, a tiny FTT is the easiest-to-implement fix for eliminating the dangers HFT poses for the markets. The tax can be made so small, and should be, that no one except HFT will notice. A tax set at the right level will drive the HFT out of business without affecting anyone else one iota.
one of the dumbest statements ever uttered...either you don't trade or you don't think
Without question, a tiny FTT is the easiest-to-implement fix for eliminating the dangers HFT poses for the markets. The tax can be made so small, and should be, that no one except HFT will notice. A tax set at the right level will drive the HFT out of business without affecting anyone else one iota.
one of the dumbest statements ever uttered...either you don't trade or you don't think
Quote from piezoe:
A financial transaction tax makes so much good sense, I think in the end everyone except the HFT will get on board.
Without question, a tiny FTT is the easiest-to-implement fix for eliminating the dangers HFT poses for the markets. The tax can be made so small, and should be, that no one except HFT will notice. A tax set at the right level will drive the HFT out of business without affecting anyone else one iota.
I must disagree with you on a very fundamental level. If HFT is the issue, legislate/regulate against that.
Once you go down the slippery slope of broad brush indirect action, what next?
piezoe probably doesn't realize the HFT's will be exempt from the tax. All they have to do is grease a politician's pocket, join the department of a bank, or claim something like "market maker" status. A FTT will do nothing to prevent HFT. Joe Six Pack will be the only one paying the tax.
Quote from justrading:
I must disagree with you on a very fundamental level. If HFT is the issue, legislate/regulate against that.
Once you go down the slippery slope of broad brush indirect action, what next?