1/4% Tax on all stock trades pushed in NY Times today
- Thread starter seasideheights
- Start date
Another useless debate on cnbc, same crap everytime, they bring on only one of 3 people Defazio, Dean Baker (who wrote the initial NY TIMES article) and the other guy I forgot his name but works for Dean Baker. 3 left leaning basically radicals
I shouldnt even have wasted my time to watch that. At least Stifel Nicholas guy was passionate about it.
I shouldnt even have wasted my time to watch that. At least Stifel Nicholas guy was passionate about it.That's because Burnett is an advocate of the tax. Notice how she didn't mention Geithner speaking out against it. Notice how her questions slanted on that it wasn't a big deal. It's true the show's producer has a say in what topics are discussed, but it's also true that if Burnett pushes for a story, she'll get to do it. She's the only one on that channel who yaps about it so much. Remember when she originally called the idea "tantalizing" with a big smile.
Frankly, she's pretty ignorant to tick off her audience. It's like an announcer for the NY Yankees continually talking up the Boston Red Sox.
http://www.financialexpress.com/new...l-to-impose-financial-transaction-tax/539325/
India likely to oppose UK proposal to impose financial transaction tax
India likely to oppose UK proposal to impose financial transaction tax
AGAIN, Erin B is talking up this insanity. The guest who supports denies reality, disses day traders and argues it won't hurt the little guy.
Yes it will. It will wipe out traders with less than 1 million in total capital to make day trades with over night. It will WIDEN not lessen the gap between the rich and poor.
It will dry liquidity and big boys will get exemptions, widening that gap ever more.
Yet this fool argues (probably as he is not a day trader!) that it will not harm the little guy.
Erin, please do not give these idiots a forum for spewing their governmental power expanding hidden agendas, why do you keep doing this?
Of course if you are an INVESTOR it is not so impacting as you are not trading several positions in an out daily. But it wipes out RETAIL day traders like US.
It is not his business or right to decide to single out frequent traders as bad guy evil speculators.
These folks use emotion and ignorance to get the average public to believe incorrect and unfair things through trickery, leading to unintended consequences and aggrandized governmental power, which is all this about in the and and why so many public officials are falling in line with the idea, they see yet another greedy revenue stream to advance their socialist vote buying agenda to tighten the grip another notch.
Day traders cannot invest, they are being singled out in effect to financial ruin by these bozos with this idea should it ever see the light of day, and I for one do not assume as many here argue, that it will not-these clowns are the same folks who cheated bond holders in the auto deal, nationalized banks and GM, etc.
What was thought unthinkable a few short years ago has is now reality. Now it is national health care. Anyone who believes this CANNOT happen is seriously deluded and ignoring the stupidity and greed and cynicism of politicians these days!
Yes it will. It will wipe out traders with less than 1 million in total capital to make day trades with over night. It will WIDEN not lessen the gap between the rich and poor.
It will dry liquidity and big boys will get exemptions, widening that gap ever more.
Yet this fool argues (probably as he is not a day trader!) that it will not harm the little guy.
Erin, please do not give these idiots a forum for spewing their governmental power expanding hidden agendas, why do you keep doing this?
Of course if you are an INVESTOR it is not so impacting as you are not trading several positions in an out daily. But it wipes out RETAIL day traders like US.
It is not his business or right to decide to single out frequent traders as bad guy evil speculators.
These folks use emotion and ignorance to get the average public to believe incorrect and unfair things through trickery, leading to unintended consequences and aggrandized governmental power, which is all this about in the and and why so many public officials are falling in line with the idea, they see yet another greedy revenue stream to advance their socialist vote buying agenda to tighten the grip another notch.
Day traders cannot invest, they are being singled out in effect to financial ruin by these bozos with this idea should it ever see the light of day, and I for one do not assume as many here argue, that it will not-these clowns are the same folks who cheated bond holders in the auto deal, nationalized banks and GM, etc.
What was thought unthinkable a few short years ago has is now reality. Now it is national health care. Anyone who believes this CANNOT happen is seriously deluded and ignoring the stupidity and greed and cynicism of politicians these days!
I have little doubt that b*tch supports this insane rape, but at least we could have fulll examination by the other side with guests that can DETAIL the illogic of the arguments and the expose the fact that LITTLE GUYS are the first to be gutted in such a plan.
Big boys will get their exemptions as they always do. Heck, normal sessions will resemble pre-market conditions possibly, where MM's and other deep pocketers run the show with their "making" a low volume market.
Once again, this tax will prevent small business day traders, with sub 1 million to sub 250-100K accounts from making money consistently, because the transaction fees relative to the capital size available prevents anything but being a buy and hold 401ker like that moronic guest who gleefully argued the little guy is fine under this silly idea!
Big boys will get their exemptions as they always do. Heck, normal sessions will resemble pre-market conditions possibly, where MM's and other deep pocketers run the show with their "making" a low volume market.
Once again, this tax will prevent small business day traders, with sub 1 million to sub 250-100K accounts from making money consistently, because the transaction fees relative to the capital size available prevents anything but being a buy and hold 401ker like that moronic guest who gleefully argued the little guy is fine under this silly idea!