Execs fighting transaction tax.
http://news.google.com/news/url?sa=...nline.com/article/20091102/PRINTSUB/311029965
http://news.google.com/news/url?sa=...nline.com/article/20091102/PRINTSUB/311029965
1/4% Tax on all stock trades pushed in NY Times today
- Thread starter seasideheights
- Start date
Quote from skylr33:
All Democrats need to be voted out in 2010. What happened in New Jersey and Virgina was only the beginning. It's so comical that the Democrats don't seem to care about that. The 2010 elections are going to be exactly like 1994, which had the GOP destroy them, and take over congress. It's coming!!!
Unless disgust with the overall Democratic party increases, this will not happen. The memory of GWB is still too fresh in the minds of the voters to hand the Congress back over to the Right. The best you can hope for is that the GOP picks up seats in the house and Senate and makes things more difficult to get things pushed thru. If they are squeaking to get something passed with a 60 vote majority in the Senate and a 35 seat advantage in the house, imagine how ineffectual proposed legislation will be if just a few more seats swing back to the right.
A 1994 redux is not going to happen. That's just wishful thinking.
i see it differently i know gwb gets a bad rap and lets face it not the sharpest tool in the shed. but the democrats have been in control of this country since 06 not hard to do the math on that one. the dems get in control and growth stops. after reagan left office in the 80s he laid it out perfectly for clinton to reap the benefits and he did. stop spending and increasing taxes and let the lazy asses get of their ass and earn a living, i am so sick of the poor me excuses of the democrats. if this makes me a cynical person so be it.
Thanks for posting this. It's a very good read. I like the part about the WH spokesman commenting on Larry Summers. These articles all seem to reference what Larry said 20 years ago (we all know he is now against this tax)...
It also mentions for this to become law it would first have to be approved by the House Ways and Means Committee. Then it would need to pass the house and the Senate (= ain't going to happen).
It's good to see some folks coming out against this terrible tax though
-Guru
It may not be repeat of 1994, but the GOP should pick up enough seats in the House and Senate to be able to kill off any Democrat proposals.
The Democrats just don't seem to care, and have absolutely turned a deaf ear to their constituents on everything. They simply choose to ignore the fact that Independent voters, by a margin of 3-1, turned on Democrats in New Jersey and Virgina. Of course, the white house tries to downplay this as local elections, that don't reflect Obama or his Democratic policies. lol
What these idiot Democrats don't get is that everyone is sick of being taxed to death, unemployment being out of control, and Obama spending our money like a drunken sailor.
Reading these articles, I think the only argument against the tax that they take seriously is the foreign concurrence and the threat of seeing capital flee.
We need to make them also understand that when you tax transactions 0.25% , Bid-ask spreads instantly widens 0.25% and the one who will pay the tax is the market taker which is the investor, the pension fund, the hedger, the farmer and not the one supposed to support it, the speculator. This one instantly disappear and flee overseas( see above ), Market makers need to be profitable to continue so they need to widen spreads accordingly.
Can you mention that in your mails to congressmen, comments... It's a valid argument they don't seem to take into account.
We need to make them also understand that when you tax transactions 0.25% , Bid-ask spreads instantly widens 0.25% and the one who will pay the tax is the market taker which is the investor, the pension fund, the hedger, the farmer and not the one supposed to support it, the speculator. This one instantly disappear and flee overseas( see above ), Market makers need to be profitable to continue so they need to widen spreads accordingly.
Can you mention that in your mails to congressmen, comments... It's a valid argument they don't seem to take into account.
Quote from skylr33:
The 2010 elections are going to be exactly like 1994, which had the GOP destroy them, and take over congress. It's coming!!!
Well, which is it??
Quote from listedguru:
Thanks for posting this. It's a very good read. I like the part about the WH spokesman commenting on Larry Summers. These articles all seem to reference what Larry said 20 years ago (we all know he is now against this tax)...
It also mentions for this to become law it would first have to be approved by the House Ways and Means Committee. Then it would need to pass the house and the Senate (= ain't going to happen).
It's good to see some folks coming out against this terrible tax though
-Guru
Agreed Guru. My interpretation of that article is that Summers is not for the tax. I could actually see the Pelosi stooges in the house pass this, but I see no way it get's through the senate, especially with NY Dem. Charles Schumer against the tax. He's also up for re-election in 2010, so you know this isn't happening.