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

bwolinsky · Oct 12, 2009

Quote from DHOHHI:

Your list brings to light a good point --- what "value" is there is junk food from McDonald's? Maybe we should levy additional taxes on the crap they sell as food. After all the ramifications are that we have lots of overweight, even obese people in society whose health is marginal that eat this junk.

It is my opinion that we are larger people than decades ago because there is growth hormone in our meat, and we are injesting it.

FightTheFuture · Oct 14, 2009

Taiwan tax commission is discussing reintroducing a stock transaction tax again.

1973 was the first time they introduced the tax, result: the market fell 63% within a year.

In 1988 they reintroduced the tax for a second time, result: 19 consecutive losing days, down 43% in less than 3 months.

I'm sure, if questioned, the proponents would think those losses are a good thing.

http://www.taiwannews.com.tw/etn/ne...g_news&cate_img=83.jpg&cate_rss=news_Politics

cstfx · Oct 14, 2009

FINRA Chairman Richard Ketchum just said on CNBC interview with Pisani that he doesn't see a transaction tax that would slow down the growth/operations of the markets.

Probably find the video posted later online.

listedguru · Oct 14, 2009

Quote from cstfx:

FINRA Chairman Richard Ketchum just said on CNBC interview with Pisani that he doesn't see a transaction tax that would slow down the growth/operations of the markets.

Probably find the video posted later online.

Thanks for posting this. We need more folks to side with us

-Guru

drukes1234 · Oct 14, 2009

Quote from listedguru:

Thanks for posting this. We need more folks to side with us

-Guru

I was listening in the background but was he saying he didn't think the tax would happen because it would dry up liquidity or that the tax wouldn't really dry up liquidity if it came into place?

cstfx · Oct 14, 2009

JOSEF · Oct 14, 2009

Quote from cstfx:

Uh...actually in this case, we do. (or at least trying to)

I wish we would be treated the same way as the tobacco industry. The last time I checked that industry is doing just fine. Heck, MO had operating income of almost $5 billion for FY 2008.

Compare that to this transaction tax which will kill the traders. Quite a difference from the tobacco industry.

listedguru · Oct 15, 2009

Derivatives Tax...

Does anyone have any color on this?

"California Dems Float State Derivatives Tax"?

http://www.iiderivatives.com/Article/2315398/Calif__Dems_Float_State_Derivatives_Tax.html

-I can't read the article. On google it mentions something about a 1% tax on derivatives floated but thats all I see. Just wondering who is behind this...

-Guru

rsikit · Oct 15, 2009

I cannot read it either, but anyways I wouldnt put anything past california since they need the money!! Anyways from the title about otc derivatives, I would think it means the same thing the house is trying to do to reform otc derivitives, like the CDO'S CMBS'S etc..

listedguru · Oct 15, 2009

Quote from rsikit:

I cannot read it either, but anyways I wouldnt put anything past california since they need the money!! Anyways from the title about otc derivatives, I would think it means the same thing the house is trying to do to reform otc derivitives, like the CDO'S CMBS'S etc..

Yeah I doubt it pertains to stocks but it's interesting that it would be proposed at a state level. Would those trades have to take place in the state of CA? Also a 1% tax? Thats nuts...

-Guru