I added some new talking points. Feel free to use them or paraphrase in the future:
Consider this:
I live in a small town in FL and had nothing to do with the current financial crisis we are in. I trade for a living and would be put out of business with this tax. I will be forced to trade from a overseas exchange with no transaction tax out of pure survival and to keep the roof over the heads of my family of 4 and food on the table. 1000's of other like me will face the same fate: unemployed or trade from an overseas exchange.
To add insult to injury my families retirement savings and pension will be fleeced by this tax as well. Mutual funds and Pension funds are among the most active participants and trade on behalf of CURRENT an FUTURE retirees accounting for BILLIONS of transactions every year. Returns on these funds could be hit several % points annually by this not so small tax. Over a life time an investor could see his retirement nest egg cut by a 1/3 or more when compounding is taken into account.
This is no small tax it is a tyranny tax on middle class retirements, small business traders, and mom and pop investors. The big wall street firms will not see this tax as they will move activity overseas. If you want to get at the wall street firms tax their profits, but leave "main street" alone. We have payed for enough.
Consider this:
I live in a small town in FL and had nothing to do with the current financial crisis we are in. I trade for a living and would be put out of business with this tax. I will be forced to trade from a overseas exchange with no transaction tax out of pure survival and to keep the roof over the heads of my family of 4 and food on the table. 1000's of other like me will face the same fate: unemployed or trade from an overseas exchange.
To add insult to injury my families retirement savings and pension will be fleeced by this tax as well. Mutual funds and Pension funds are among the most active participants and trade on behalf of CURRENT an FUTURE retirees accounting for BILLIONS of transactions every year. Returns on these funds could be hit several % points annually by this not so small tax. Over a life time an investor could see his retirement nest egg cut by a 1/3 or more when compounding is taken into account.
This is no small tax it is a tyranny tax on middle class retirements, small business traders, and mom and pop investors. The big wall street firms will not see this tax as they will move activity overseas. If you want to get at the wall street firms tax their profits, but leave "main street" alone. We have payed for enough.
