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

Quote from traderbigt:

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!


That little guy was Dean Baker basically the one who started this thread with his NY time article, he was such an ass when he said , " it wont affect me"
 
Quote from rsikit:

I found it surprising that she didnt mention that on Saturday, the IMF, ECB, RUSSIA, CANADA, US, SWEDEN and some other Scandinavian countries came out against the tax, pretty shitty reporting with her bias!

But "it's gaining momentum around the world!"
 
It's just sad when she could with a straight face say it's gaining momentum around the world, she disgusts me.

I'm quite upset that no opponent to the tax has come out with the incredibly simple counter-argument that this tax would be a NET REVENUE NEGGGGGGGGGGGGGATTTTTIVEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE
 
This literally just crossed the wires.

11:51 (US) Treasury Sec Geithner: Opposed to trading transaction tax, any fee on bank liability needs widespread agreement - TV interview


11:53 IMF's Strauss-Kahn: Transaction tax on trading could be avoided - TV interview
 
Quote from rsikit:

I found it surprising that she didnt mention that on Saturday, the IMF, ECB, RUSSIA, CANADA, US, SWEDEN and some other Scandinavian countries came out against the tax, pretty shitty reporting with her bias!

She is reading a teleprompter. She didn't write the copy.

So your beef should be with CNBC.

News networks don't make money on stats of their accuracy. They make money ONLY by collecting eyeballs, which they know they can do through fanning the flames of controversy.
 
Reading a little bit (and maybe there is/are someone here more knowledgeable than I) but to target day traders and firms that daytrade while exempting pensions and 401k which may employ similar trading activities, doesn't this fall under a violation of the Constitution in re: Bills of Attainder?
 
Once again, do NOT underestimate these globalist fascists. Sure, some of those countries understand the folly and *currently* oppose this tax, but that could change. Folks, freedom, as always is never more than one generation from a memory, remember that!

Why do not people get that each time a politician suggests a NEW tax that is weird or not much thought of previously (not quite true here but follow my reasoning) it is ALWAYS used to buy votes and aggrandize and consolidate the power of the government, NOT to "protect" the public or little guy from abuses?

Governmental power to regulate and control every minute aspect of your life, and hence its size and scope of expansion, is DIRECTLY linked to how much and WHERE *revenue* is obtained from. That is why the original founder's of this nation saw only a few *well defined* sources of taxes, (excise, etc.) not limitless new tax revenue stream ideas, personal income tax, health care, etc.

Each time a pol asks for a new tax, he/she is only doing to to benefit THEM, not you!

Why is this so hard to understand?

Government has a place, but only to provide basic services, if it is allowed to grow unchecked, like ours has and is, through taxes like this and Universal Health Care, etc. it causes those in power to corrupt, because their ever more absolute power always does, as per human nature.

Nobody, even self professed small government advocates CAN be trusted, because they always end up using their amount of power to self advantage, so it must be artificially forcibly limited.

These types of policies help remove those barriers to power consolidation and wielding, which hurt us all.

The advocates of these ideas are interested in controlling YOU, not solving the world's problems...
 
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