PLEASE, DO NOT HAVE ANY CHILDREN!
.005 x 10K = .50c
.50c x 250 days = $125.00
Unclear as to importance of .005, but there's your calculation and answer.
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1/4% Tax on all stock trades pushed in NY Times today
- Thread starter seasideheights
- Start date
PLEASE, DO NOT HAVE ANY CHILDREN!
.005 x 10K = .50c
.50c x 250 days = $125.00
Unclear as to importance of .005, but there's your calculation and answer.
Quote from risktaker:
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 I do understand this correctly. It means that if an unleveraged trader doubles his capital after 1 year he still will be unprofitable. Besides this tax is going to deplete the trading capital with the speed of light. Wow.
BTW, talk about a hypocrite "free market" system.
Not even the European "socialist" countries like Sweden/Finland have such a stupid tax!
If it continues down this path, US is history.
The politicians who want this tax have never traded anything in their lives, suck the hell out of government, many actually cheat on taxes themselves, then turn around and stick it to those who still have something left so they can continue to ''help those in need" buy more crap made in China.
I'd say, if your wife is pregnant, go have the baby in another less-screwed up country.
Not even the European "socialist" countries like Sweden/Finland have such a stupid tax!
If it continues down this path, US is history.
The politicians who want this tax have never traded anything in their lives, suck the hell out of government, many actually cheat on taxes themselves, then turn around and stick it to those who still have something left so they can continue to ''help those in need" buy more crap made in China.
I'd say, if your wife is pregnant, go have the baby in another less-screwed up country.
Your math is correct but as the earlier post mentioned, it's the tax on the value of the transaction so when the market turns back into a bull market the tax will gradually increase. Right now the ES is at about 850 * .005 * 50 = $212.50 tax. Now suppose the market was at 1400. 1400 * .005 * 50 = $350.00. Yeow! The higher the market goes the less inclined people will be to buy. Hmmm....
Quote from gkishot:
.005 * $10000 = $50;
0.5% /100 * $10000 = $50.
No mistake there.
There is no need to continue to talk of this.................the last thing the Obama administration wants is a 1 day 10%-15% drop in the Dow, which is a certainty.
This is a bill drawn up by those who love to tax, tax, tax and spend, spend, spend.
Wall Street for the most part backed the dems in the election, they do not want to end this forever by making every one even remotely connected to Wall Street angry with them.
Along with the drop in the Dow, all salaries would be cut not just the CEO's, executives, traders and all others whom are well paid, the assistants and secretaries would see a pay cut also.
In effect Obama would be hurting the people he wants to help.
Along with this, every time I hear of this my blood pressure rises.
This is a bill drawn up by those who love to tax, tax, tax and spend, spend, spend.
Wall Street for the most part backed the dems in the election, they do not want to end this forever by making every one even remotely connected to Wall Street angry with them.
Along with the drop in the Dow, all salaries would be cut not just the CEO's, executives, traders and all others whom are well paid, the assistants and secretaries would see a pay cut also.
In effect Obama would be hurting the people he wants to help.
Along with this, every time I hear of this my blood pressure rises.
one more time and one more time only, this tax is never gonna happen and if by some miracle it does if you read between the lines it will not and i repeat will not effect your profitablilty at all. why you ask because only the investing public is gonna have to pay this transactions tax. i will when i invest in my ira but we are talking about 10 to 20 transcations a year. if you dont believe me go to the uk go to a big bank or prop firm and ask if those guys there pay any stamp tax of .5 % to conduct business. they will look at you and laugh their ass off about the suckers that actually have to pay such a tax on a regualar basis. i speak from a personal experience by the way. my cousin who lived in the us all his life went to england on a vacation found his wife has been living there for the past 8 years and trades for a living. basically a prop shop in the us same business model. they do not and i repeat do not pay stamp tax case closed. he even said the stamp tax will be repealed withing a year or two since it has only dampened internal investing and the economy is lagging because of the rejection of fresh capital into the country.
0bama said this morning, "We must write and enforce new rules of the road, to stop unscrupulous speculators from undermining our economy ever again."
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