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1/4% Tax on all stock trades pushed in NY Times today
- Thread starter seasideheights
- Start date
They have a version of that. It's called a "sales" tax aka VAT tax in some locales, as high as 30%.
Quote from gkishot:
This people do not understand that if they start taxing security transactions next thing they should tax all other transactions in all other markets: potatoes, computers, cars etc. The reason is that financial markets as the most efficient and free markets ( so far, with no transaction tax yet) should serve as a model for all other markets out there. Let's see how others merchants and dealers would like this idea.
Quote from NielsenDK:
It used to be 0.25%
Then the AFL-CIO came out with 0.10%
Now, the European socialists are proposing 0.01% to 0.05% for all global transactions to be discussed at G20.
http://www.reuters.com/article/marketsNews/idUSLB1366720090911
At least the worst case scenario seems to be diminishing and the fools proposing these ideas, are seeing the damage it will do, thereby decreasing the target rate.
I doubt we will see a bad outcome, if any at all.
that is the problem. people like yourself who obviously do not trade heavily don't understand that .001 tax can wipe out the capital of an active trader very easily within a year.
from gk ishot:
Minimum annual transaction tax with one turnover per day ( 1 buy and 1 sell) and $100,000 of capital is:
$100,000 * 0.001 * 2 * 250 days = $50,000
http://www.elitetrader.com/vb/showt...highlight=mathematics+transaction#post2562720
Quote from zdreg:
that is the problem. people like yourself who obviously do not trade heavily don't understand that .001 tax can wipe out the capital of an active trader very easily within a year.
from gk ishot:
Minimum annual transaction tax with one turnover per day ( 1 buy and 1 sell) and $100,000 of capital is:
$100,000 * 0.001 * 2 * 250 days = $50,000
http://www.elitetrader.com/vb/showt...highlight=mathematics+transaction#post2562720
0.01% would be
$100,000 * 0.0001 * 2 * 250 days = $5,000.
0.1% would be $50,000.
-SL
Quote from risktaker:
Looks like zdreg had it right, though. There was no reference to %'s.
Quote from NielsenDK:
It used to be 0.25%
Then the AFL-CIO came out with 0.10%
Now, the European socialists are proposing 0.01% to 0.05% for all global transactions to be discussed at G20.
http://www.reuters.com/article/mark...LB1366720090911
At least the worst case scenario seems to be diminishing and the fools proposing these ideas, are seeing the damage it will do, thereby decreasing the target rate.
I doubt we will see a bad outcome, if any at all.
-------
NielsenDK was talking about 0.01%. And zdreg was talking about 0.001 which equals 0.1%.
I was just showing the difference, that's all.
Quote from risktaker:
They have a version of that. It's called a "sales" tax aka VAT tax in some locales, as high as 30%.
Sales tax is paid by the end customers whose livelihood does not depend on it. Imagine all the merchants down the chain from manufacturer to end customer are taxed with some small sales tax. Just like security tax they propose on the security transactions.
Some B2B transaction tax on all goods which is never charged now because it would put the merchants out of business.