1/4% Tax on all stock trades pushed in NY Times today

[Xspurt]

Quote from TraDaToR:

Tax havens "ended" this year?



I have a friend that works in trust business in Switzerland, it was not their best year but it is nowhere near dead.

I didn't say tax havens ended this year. Google end of tax havens.

Trusts are different from tax. Trusts will still exist if there are no tax havens, unless they kill of those as well... and they will try.

 

[listedguru]

Here's a nice little piece:

http://www.cato-at-liberty.org/2009/09/03/afl-cio-wants-to-tax-stock-trades-to-stop-speculation/

And another one:

http://www.realclearmarkets.com/articles/2009/09/02/a_tax_too_far_97388.html

-Guru

 

[SNBthetrue]

Quote from TraDaToR:

Tax havens "ended" this year?



I have a friend that works in trust business in Switzerland, it was not their best year but it is nowhere near dead.

Don't trust to much this friend...

 

[S2007S]

191 pages about this topic.....


I cant believe so many here believe that there is a strong possibility this will be passed. The chances of this being passed in my opinion are less than 1%.

I highly doubt this gets approved for reasons that any approval of this bill would have an enormous negative impact on the overall market, investors, businesses and wallstreet.

Liquidity would instantly dry up. Market makers would not be able to stay in business as the transaction side of the business would completely fall apart. You want to talk about job losses on wall street,.... I think you could easily see hundreds of thousands of jobs lost in a short amount of time as money would disappear as the markets literally fall apart.

 

[OldTrader]

Quote from S2007S:

191 pages about this topic.....


I cant believe so many here believe that there is a strong possibility this will be passed. The chances of this being passed in my opinion are less than 1%.

I highly doubt this gets approved for reasons that any approval of this bill would have an enormous negative impact on the overall market, investors, businesses and wallstreet.

Liquidity would instantly dry up. Market makers would not be able to stay in business as the transaction side of the business would completely fall apart. You want to talk about job losses on wall street,.... I think you could easily see hundreds of thousands of jobs lost in a short amount of time as money would disappear as the markets literally fall apart.

This is truly an ignorant post.

How would you possibly come up a 1% chance? Did you interview the politicans?

Here's the way I look at it. I don't care what the chance is. The government needs money. Wall Street, and anyone associated with it is unpopular. Therefore taxing Wall Street will not be unpopular, in fact, may be cheered. It's really that simple. Even in this thread we have traders bashing Goldman Sachs for gawds sake.

Politicians don't operate based on whether anything makes sense. Would you care to review all of the actions taken just in the last couple of years that made no sense at all?

Tell ya what, when my livelihood is at risk, ANY RISK, I do something about it. Complacency is not on my radar. And if you were a real trader I think you would feel the same way. I'm going to do everything I can do, in every way I can think of, to make sure this tax does not become law.

OldTrader

 

[FB123]

Quote from OldTrader:


Tell ya what, when my livelihood is at risk, ANY RISK, I do something about it. Complacency is not on my radar. And if you were a real trader I think you would feel the same way. I'm going to do everything I can do, in every way I can think of, to make sure this tax does not become law.

OldTrader

I agree. Personally I happen to think that the chances of this passing are very very small, however it doesn't hurt to send a few emails and do whatever we can to fight it anyways. The thing is that while a few other countries that have this law are now phasing it out, THEY STILL ORIGINALLY PASSED IT. That's kind of scary because it shows just how DUMB politicians can be. Given the average level of intelligence that exists in our government, I'd rather be safe than sorry.

 

[MohdSalleh]

Quote from S2007S:

191 pages about this topic.....


I cant believe so many here believe that there is a strong possibility this will be passed. The chances of this being passed in my opinion are less than 1%.

I highly doubt this gets approved for reasons that any approval of this bill would have an enormous negative impact on the overall market, investors, businesses and wallstreet.

Liquidity would instantly dry up. Market makers would not be able to stay in business as the transaction side of the business would completely fall apart. You want to talk about job losses on wall street,.... I think you could easily see hundreds of thousands of jobs lost in a short amount of time as money would disappear as the markets literally fall apart.

If bush was in charge then yes no chance of passing. But with obama anything goes. I hope you obama supporters are happy now, give the messiah your soul

 

[FB123]

Quote from MohdSalleh:

If bush was in charge then yes no chance of passing. But with obama anything goes. I hope you obama supporters are happy now, give the messiah your soul

To be fair, Obama has not said that he supports something like this in any way. Some looney-toon Democrats like DeFazio, yes - they are fair game. But you can't blame a person for the idiots in their party. We do have to be fair and not personally judge Obama or anyone else on this topic until they actually come out in support of it.

 

[PatrickQ]

Quote from FB123:

To be fair, Obama has not said that he supports something like this in any way. Some looney-toon Democrats like DeFazio, yes - they are fair game. But you can't blame a person for the idiots in their party. We do have to be fair and not personally judge Obama or anyone else on this topic until they actually come out in support of it.

isn't the AFL-CIO the largest UNION backer of Obama?

 

[the1]

They were dancing in the streets and drinking in the bars to celebrate the election of the Mighty One. My wife cried when he was elected. I actually cried to but for a different reason LOL

Quote from MohdSalleh:

If bush was in charge then yes no chance of passing. But with obama anything goes. I hope you obama supporters are happy now, give the messiah your soul