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

DeFazio is a congressman [not a Senator even] from Oregon... of course he supports this, it would do nothing to his corner of the woods except piss off a few people trading out of their log cabin...
 
Quote from Eight:

DeFazio is a congressman [not a Senator even] from Oregon... of course he supports this, it would do nothing to his corner of the woods except piss off a few people trading out of their log cabin...
More...

Which is why we don't have to worry. The state of NY would lose a lot of money from this type of thing... they wouldn't just let it pass. NY is a little more influential than Oregon, last time I checked...
 
Did you guys see her facial expression when Cramer said "...that'll kill the market"? For whatever reason, she does not yet grasp the impact of this "tiny" tax on essentially eliminating short-term trading, and therefore eliminating a bulk of CNBC's audience. She's stuck on the notion that this is just a small fee, a nuisance, and trading will go on as usual. She doesn't fathom at all her viewers losing their livelihoods. She may be more amenable to rethinking her position(or at least see what's good for her employer and herself) if someone "higher-up" sets her straight. So let's keep emailing CNBC's other shows/ producers as well as StreetSigns and specifically ask to enlighten Ms. Burnett for the benefit of the team.
 
At least we got a decent defense on air this time. I liked the emotion that David Lutz showed arguing againt this garbage. We need to absolutely bombard CNBC with request to set Burnett straight.
 
Quote from jj69:

Did you guys see her facial expression when Cramer said "...that'll kill the market"? For whatever reason, she does not yet grasp the impact of this "tiny" tax on essentially eliminating short-term trading, and therefore eliminating a bulk of CNBC's audience. She's stuck on the notion that this is just a small fee, a nuisance, and trading will go on as usual. She doesn't fathom at all her viewers losing their livelihoods. She may be more amenable to rethinking her position(or at least see what's good for her employer and herself) if someone "higher-up" sets her straight. So let's keep emailing CNBC's other shows/ producers as well as StreetSigns and specifically ask to enlighten Ms. Burnett for the benefit of the team.
More...

I already emailed her twice and explained in rudimentary, grade-5 level math how this tax is anything but "tiny". Unfortunately, since her mathematical skills are currently stuck at the grade 3 level, she failed to understand and is still arguing for it. I wouldn't hold my breath.
 
Quote from jj69:

She doesn't fathom at all her viewers losing their livelihoods. She may be more amenable to rethinking her position(or at least see what's good for her employer and herself) if someone "higher-up" sets her straight.
More...

As if the producers at CNBC are not already able to take her aside a few minutes and explain the damage she is causing.
 
Here is what I don't get. She is obviously an imbecile. A pretty imbecile for sure but still an imbecile. I accept that.

There must be someone in management that has both clout and a brain. Why doesn't her ass get straightened out by the powers that be.

I don't watch TV during the day and I am also not worried that the tax will come close to passing -- it's simply an out bet.

That said, it is annoying to hear that she believes this proposed levy is a nuance ... small potatoes in effect. The tax, as we all know, would have far reaching effects beyond the trading community. It would be a message to the world's financial community that the US has lost all shred of sanity.
 
You must log in or register to reply here.
Back
Top