This has to be all sarcasm, irony from crash n burn, right? No one could be that..... well....
Awesome quotes from crash n burn:
"the rationale behind the transaction tax is to curb a parasitic activity that adds nothing to the economy''
The more trading, the more traders, the more competition that there is, the more liquidity, the cheaper it is for a long term investor to buy stock, mutual funds. A business relies on cheaper investment transactions to attract shareholders to the company. The large institutions would profit immensely once the competition is crushed. The profits would go to the few at the expense of the many.
Trading is better than being an unemployed parasite on assistance.
"while absorbing viable resources that could be efficiently deployed elsewhere."
That makes no sense at all. You mean tax money that the government could efficiently vaporize?
"by enacting this legislation, financial markets will be cleansed of all sort of parasites (independent traders, gurus, prop houses, retail brokers, etc)."
Retail brokers are parasites? How will investors purchase stocks and funds? Or will investing be unnecessary in your utopia? The taxing government is a parasite.
"the essence of financial markets is not to provide a venue for gamblers to flip contracts. markets are there to allow companies to finance themselves and hedge against uncertainty. speculation can not and should not based on a game of chance. that's why the transaction tax is necessary."
The transaction tax in 1929 did not prevent the huge speculative bubble nor the crash.
"nowadays, market speculation is around 98% of the transactions occurring on any given day. this has to change."
Most of the trading volume is institutional, done on behalf of long term investors. There are only about 10,000 traders, most with their 5k accounts, merely trying to avoid the unemployment line.
"hence, parasitic activities should be aggressively taxed to the bone, as they illustrate the profound perversity of a society in which e.g. <b>more than 10 million children die of starvation every year</b>."
Tens of millions of parasites on government assistance should be taxed to the bone. Tens of millions have died of hunger from induced famine by socialist governments. Never hear of anyone complaining about that.
"people need to work in a productive way, i.e. in a factory, office, land, etc, rather than spending time sucking blood out of the market."
Hitler called capital gains âeffortless incomeâ so you do have a friend.
Awesome quotes from crash n burn:
"the rationale behind the transaction tax is to curb a parasitic activity that adds nothing to the economy''
The more trading, the more traders, the more competition that there is, the more liquidity, the cheaper it is for a long term investor to buy stock, mutual funds. A business relies on cheaper investment transactions to attract shareholders to the company. The large institutions would profit immensely once the competition is crushed. The profits would go to the few at the expense of the many.
Trading is better than being an unemployed parasite on assistance.
"while absorbing viable resources that could be efficiently deployed elsewhere."
That makes no sense at all. You mean tax money that the government could efficiently vaporize?
"by enacting this legislation, financial markets will be cleansed of all sort of parasites (independent traders, gurus, prop houses, retail brokers, etc)."
Retail brokers are parasites? How will investors purchase stocks and funds? Or will investing be unnecessary in your utopia? The taxing government is a parasite.
"the essence of financial markets is not to provide a venue for gamblers to flip contracts. markets are there to allow companies to finance themselves and hedge against uncertainty. speculation can not and should not based on a game of chance. that's why the transaction tax is necessary."
The transaction tax in 1929 did not prevent the huge speculative bubble nor the crash.
"nowadays, market speculation is around 98% of the transactions occurring on any given day. this has to change."
Most of the trading volume is institutional, done on behalf of long term investors. There are only about 10,000 traders, most with their 5k accounts, merely trying to avoid the unemployment line.
"hence, parasitic activities should be aggressively taxed to the bone, as they illustrate the profound perversity of a society in which e.g. <b>more than 10 million children die of starvation every year</b>."
Tens of millions of parasites on government assistance should be taxed to the bone. Tens of millions have died of hunger from induced famine by socialist governments. Never hear of anyone complaining about that.
"people need to work in a productive way, i.e. in a factory, office, land, etc, rather than spending time sucking blood out of the market."
Hitler called capital gains âeffortless incomeâ so you do have a friend.
