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1/4% Tax on all stock trades pushed in NY Times today
- Thread starter seasideheights
- Start date
Quote from JOSEF:
<i>Guru -- We hear talk of that from time to time, but have not seen any proposals.</i>
I don't think this is true anymore. Didn't John Conyers put in a formal proposal with HR 676? He proposes single payer health care to be partially funded with this tax?
This tax is supposed to repay the TARP. Now they want to use it to pay for other shit???
From the funding portion of the proposal:
(B) Increasing personal income taxes on
the top 5 percent income earners.
(C) Instituting a modest and progressive
excise tax on payroll and self-employment income.
(D) Instituting a small tax on stock and
bond transactions.
http://www.google.com/url?sa=t&sour...Ee4lXnoUh6_ZMOsJA&sig2=LA6vrSNDnKd-qG7X-vVHVA
Whoever wrote that "proposal" is a total retard!
A "small" tax here and a "small" tax there and pretty soon all tax *paying* people will be saying adios to USA and hello to some other country that doesn't fuck them left and right!
A "small" tax here and a "small" tax there and pretty soon all tax *paying* people will be saying adios to USA and hello to some other country that doesn't fuck them left and right!
Quote from cstfx:
This tax is supposed to repay the TARP. Now they want to use it to pay for other shit???
From the funding portion of the proposal:
(B) Increasing personal income taxes on
the top 5 percent income earners.
(C) Instituting a modest and progressive
excise tax on payroll and self-employment income.
(D) Instituting a small tax on stock and
bond transactions.
http://www.google.com/url?sa=t&sour...Ee4lXnoUh6_ZMOsJA&sig2=LA6vrSNDnKd-qG7X-vVHVA
Quote from risktaker:
Whoever wrote that "proposal" is a total retard!
A "small" tax here and a "small" tax there and pretty soon all tax *paying* people will be saying adios to USA and hello to some other country that doesn't fuck them left and right!
Yes, Singapore is looking better and better every day. Jim Rogers got it right.
I watched the "comittee" headed by Barney Frank grilling the 8 bank ceo's last week.
All I can say is...what a bunch of morons we have in government.
They were asking the most stupid questions, designed to kiss the ass of the voting fools in their districts.
Very sad!
A few years ago they were pushing the banks to loan to all. That stupid shit backfired, now they think they own the banks and demand all kinds of shit to pacify the "voter/shareholders"!
All I can say is...what a bunch of morons we have in government.
They were asking the most stupid questions, designed to kiss the ass of the voting fools in their districts.
Very sad!
A few years ago they were pushing the banks to loan to all. That stupid shit backfired, now they think they own the banks and demand all kinds of shit to pacify the "voter/shareholders"!
So if I am doing one trade every day and I am making on average 0.5% profit per transaction this tax will make me a loser?
Wow, this is outrages. How much they think are the profit margins of the unleveraged day traders? What do they know about this business? Capital gains taxes are enough and fair IMO.
Wow, this is outrages. How much they think are the profit margins of the unleveraged day traders? What do they know about this business? Capital gains taxes are enough and fair IMO.
It's not your capital they're talking about taxing, it's the transaction value.
So, if you do 1 e-mini S&P trade, then it'd be $40,000*.0025=$100.00 in and $100.00 out.
That's $200/day, $1000/week, $52k/year (for 1 emini trade/day!).
I suppose futures traders would then be given a small "break".
Fucking laughable stupidity in US Senate/Congress! Total ass-kissing morons.
So, if you do 1 e-mini S&P trade, then it'd be $40,000*.0025=$100.00 in and $100.00 out.
That's $200/day, $1000/week, $52k/year (for 1 emini trade/day!).
I suppose futures traders would then be given a small "break".
Fucking laughable stupidity in US Senate/Congress! Total ass-kissing morons.
Quote from gkishot:
If I have $10,000 of the trading capital and I am I am doing 1 round-trip trade every day then according to this proposal the government wants $10,000 * 0.005 * 250 trading days per year = $12500 as tax. That's even more than my initial capital. Is this math correct?