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

FB123 · Sep 11, 2009

Quote from zdreg:

correct. reported instantly and instantly forgotten.

Not likely. If GS got an exemption and could still run their HFT programs, it would be seized upon by the opposition candidate in the next congressional election. The other side would make a case of it - they look for these types of things.

listedguru · Sep 11, 2009

Here's some more garbage from our favorite union:

http://www.aflcio.org/mediacenter/prsptm/pr09092009b.cfm

-Guru

listedguru · Sep 11, 2009

Here is a very good read on the transaction tax:

http://www.tradersmagazine.com/news/securities-transaction-tax-104338-1.html

-Guru

killthesunshine · Sep 11, 2009

Quote from FB123:

I won't bother to respond to your ignorant comment. And I don't need a "real job", I will do just fine whatever happens. Thanks for the sentiment though.

so you say i don't care what happens one way or the other? then why don't you shut up

FB123 · Sep 11, 2009

Quote from killthesunshine:

so you say i don't care what happens one way or the other? then why don't you shut up

Congratulations - you have made it to my ignore list.

zdreg · Sep 11, 2009

Quote from FB123:

Not likely. If GS got an exemption and could still run their HFT programs, it would be seized upon by the opposition candidate in the next congressional election. The other side would make a case of it - they look for these types of things.

as if the average american voter has the sophistication to understand.

FB123 · Sep 11, 2009

Quote from zdreg:

as if the average american voter has the sophistication to understand.

Exactly what sophistication do they need? The opponent says "look, the other guy voted to tax you but let the wall street fat cats off the hook!". It would be literally true, so it couldn't be denied. That's all they would need to hear.

rsikit · Sep 11, 2009

http://www.ft.com/cms/s/0/4038e1fe-...c-1b8f-11dd-9e58-0000779fd2ac.html?ftcamp=rss

Yet another call for a tax, if anyones tax has to pass this one would be the best one to pass , but its global tax called for by German Finance minister, but Merkels office blows it off

It calls for a .0005 % tax, basically it is 5 dollars per 100,000 dollars which will not put us out of buisness. I do not want any tax at all, but if I had to live with one, it would be this number, not our ridiculous .10% or .25% that was being floated by Defaggio

risktaker · Sep 11, 2009

I suspect the writer has the figure wrong or it's deliberately being sold that way to get people to jump onboard. Some people make the mistake of writing .5% as .005%

I hope you're right though, as that transaction tax would certainly be viable. Again, suspiciously too low.

Quote from rsikit:

http://www.ft.com/cms/s/0/4038e1fe-...c-1b8f-11dd-9e58-0000779fd2ac.html?ftcamp=rss

Yet another call for a tax, if anyones tax has to pass this one would be the best one to pass , but its global tax called for by German Finance minister, but Merkels office blows it off It calls for a .0005 % tax, basically it is 5 dollars per 100,000 dollars which will not put us out of buisness. I do not want any tax at all, but if I had to live with one, it would be this number, not our ridiculous .10% or .25% that was being floated by Defaggio

rsikit · Sep 11, 2009

I trade forex now and speaking in a currency aspect .005% has been thrown about for years as a CTT- Currency Transaction Tax. They figure it is low enough to not cause too much damage but good enough to raise money worldwide for worldwide causes. So they figure if they do it globally its a low number that shouldnt hurt to bad and make money for all governments. I am not for any tax what so ever, but its a number where we can still trade. Either way I do not want it thrown out there, becuase if they ever do pass it, which is probably a stretch then they can raise it when they want. Anyways we shall see when the g-20 meets. This is not a new thing for Europeans, they bring this up a lot more then here in the U.S.