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

Quote from Landis82:

Given some of my previous correspondance over the years at CNBC, I would guess that Erin Burnett's e-mail address is the following:

Erin.Burnett@nbcuni.com

:)
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call cnbc and ask for her. you will be connected to the producer of her show who will talk to you.(201) 735-2622
 
Quote from S2007S:

I can't believe how much talk there is on this matter yet it's practically never discussed on cnbc or bloomberg, even the annoying money managers don't even discuss it. How many here actually think this is going through?
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Kinda makes you wonder, doesn't it, that you don't hear much about this on the 'professional' level and it sems that the only ones getting upset by this talk are the individual, small investors/traders. Save for SIA and Green's efforts, there is little organized opposition/bitching about a possible tax so either a: the big boys don't think it will happen or b: they think they will be exempt.
 
This tax would be disgraceful, and almost certainly won't pass, but it's somewhat nice to know that if it does pass it will be .005% which would add a ton of fees per year but wouldn't end trading.
 
Quote from drukes1234:

This tax would be disgraceful, and almost certainly won't pass, but it's somewhat nice to know that if it does pass it will be .005% which would add a ton of fees per year but wouldn't end trading.
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from the 1st sentence to the last sentence you keep repeating absolute nonsense.

look at previous posts that have refuted everything u are saying.

of course it wouldn't end trading but it would certainly inhibit day trading and swing trading. $50 per million transaction action is alot for an active trader.
"it will be .005%. "statement is ridiculous since nobody knows. maybe it will be .05% or $500/million which does not sound like much too many people but would put active traders out of business.

the outcome is completely unclear. the goal is to nick the tax in its bud.
 
If tax ever does go through, US govt will be watching our money transfer to Canada or other countries and we will continue to day trade as if nothing has happened. Might even pay lower fees?

I have never day traded in a serious way in other countries, perhaps someone can shed some lite if it is doable as far as costs?
 
Well it wont be Canada they want the tax as do many other countries, I do not see the g20 agereing to this. But down the road if they us sets one up then almost all countries will follow
 
Quote from Handle123:

If tax ever does go through, US govt will be watching our money transfer to Canada or other countries and we will continue to day trade as if nothing has happened. Might even pay lower fees?

I have never day traded in a serious way in other countries, perhaps someone can shed some lite if it is doable as far as costs?
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have you ever day traded in any other country?

"if tax ever does go through, US govt will be watching our money transfer to Canada or other countries and we will continue to day trade as if nothing has happened"
sound like u are not experienced.
 
A global financial-transaction tax, applied uniformly across the G20 countries, is the obvious instrument to ensure that all financial-market participants contribute equally. German Foreign Minister Frank-Walter Steinmeier and I suggest the G20 take concrete steps toward implementing a tax of 0.05 per cent on all trades of financial products within their jurisdictions, regardless of whether these trades occur on an exchange. Retail investors could be exempt.

http://www.ft.com/cms/s/0/25afd1d4-a905-11de-b8bd-00144feabdc0.html
 
From the same article:

"I don’t think such a tax would significantly affect market liquidity; even if it did, a nudge towards buying and holding would be no bad thing."

So buy a dog and later find out it has fleas and you are SOL!
 
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