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

Quote from bears21:

just saw on cramers mad money he recanted his view and said he was against the tax, said he was bombarded with emails cant believing he was for the tax
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not quite. he's for the tax if the money goes for creating jobs. he just said it. 52 minutes into the show. He didn't change his position. The question this afternoon was about a transaction tax being considered as the funding for a jobs bill. He's still for it. No change.

He doesn't put food on his family's plates with his trading profits anymore. Who cares if someone else has to pay $270 in taxes to buy 1000 shares of Walmart to someone who has several different income streams & doesn't need to trade to survive?

He's not one of us.
 
Quote from seasideheights:

not quite. he's for the tax if the money goes for creating jobs. he just said it. 52 minutes into the show. He didn't change his position. The question this afternoon was about a transaction tax being considered as part of a jobs bill. He's still for it. No change.
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He said he WASN'T for it but that we had to do whatever we had to do to create jobs because jobs is #1. I have no clue how he thinks a transaction tax creates jobs, based on every measure it will eliminate jobs...
 
So THAT is how they plan to pay for the next round of unemployment insurance extensions. Well damn, I knew another round was coming, after all we are in a socialist nation now, but I didn't expect traders, participants in capitalism, would be the horses on the yoke. Well fuck me...
 
Quote from drukes1234:

He said he WASN'T for it but that we had to do whatever we had to do to create jobs because jobs is #1. I have no clue how he thinks a transaction tax creates jobs, based on every measure it will eliminate jobs...
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His comment in the reader comments section of the following page explains his position.

http://www.thestreet.com/storycomme...-to-critics-on-financial-transaction-tax.html

PS: I certainly hope the out of line comments on that page didn't come from anyone here. A vigorous debate on the tax is one thing, personal attacks are another & are totally out of line.
 
Cramer Responds to Critics on Financial Transaction Tax

http://www.thestreet.com/story/1063...financial-transaction-tax.html?cm_ven=GOOGLEN

"To those who now despise me for saying that I could live with a transfer tax, understand, I do not want one. I do not favor higher taxes. Taxing trading would be bad for business.

But I am a believer that if we do not create jobs in this country we will fall horribly behind all others in the world. I think we will be doomed to permanently low growth, if no growth at all. I believe that it is incumbent upon everyone to sacrifice at this time.

I repeat, I am not so stupid as to want taxes to cut into profits.

However, for those who are not willing to sacrifice in order to create employment in this country, I say to you that you do not recognize what goes wrong if we don't get employment going in this country.

For those of you who say that I stabbed you in the back by saying that I could live with this tax, let me remind you of something: I can live with any tax IF it helps create jobs.

--

The comments are interesting also
 
Under a bill being drafted by Democratic Reps. Peter DeFazio (Ore.) and Ed Perlmutter (Colo.), the sale and purchase of financial instruments such as stocks, options, derivatives and futures would face a 0.25 percent tax.

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LOL, for all you clowns who trade and voted for OBAMA. Your about to get your wish, Change is coming......Change is the only thing you will have left in your pockets if this shit passes.

I can see this passing as well as the Immigration Bill. These two could easly pass, while Cap and Trade and Health Care fail.


WELCOME TO OBAMANATION......
 
However, for those who are not willing to sacrifice in order to create employment in this country, I say to you that you do not recognize what goes wrong if we don't get employment going in this country.

____________________________________________________-

Absolute bullshit. Are you kidding me, you think a tax on WallStreet is going to go and create jobs? It's fools like you that need to leave this country. Yes, I said it...get the fuck out. Go to Euro Land, or even to Russia, I heard the emerging market scene is pretty good over there.

TAX CUTS on Small Business's as well as Personal Tax Cuts will create jobs. YOU THINK AIG IS HIRING? YOU THINK GM is going to survive. HOW ABOUT THE POST OFFICE? How about any Gov. Agency worth a damn? Well, hell how about all those SHOVEL READY PROJECTS? What happen to the JOB CREATION PROMISSED WITH ALL THAT PRINTED MONEY?

Its stupid shit like your post that we need to attack. People with the mentality that TAXING CREATES JOBS are as dangerous as the idiots who believe in Socialism.

Get the fuck outa of my country. Yes, the country that is based on Freedom to persue work without NANNY GOV, Capitalism and representative Democracy.

Go live in some nanny state overseas, there are plenty of them.
 
Quote from EMRGLOBAL:

Absolute bullshit. Are you kidding me, you think a tax on WallStreet is going to go and create jobs? It's fools like you that need to leave this country. Yes, I said it...get the fuck out. Go to Euro Land, or even to Russia, I heard the emerging market scene is pretty good over there.

TAX CUTS on Small Business's as well as Personal Tax Cuts will create jobs. YOU THINK AIG IS HIRING? YOU THINK GM is going to survive. HOW ABOUT THE POST OFFICE? How about any Gov. Agency worth a damn? Well, hell how about all those SHOVEL READY PROJECTS? What happen to the JOB CREATION PROMISSED WITH ALL THAT PRINTED MONEY?

Its stupid shit like your post that we need to attack. People with the mentality that TAXING CREATES JOBS are as dangerous as the idiots who believe in Socialism.

Get the fuck outa of my country. Yes, the country that is based on Freedom, Capitalism and representative Democracy.

Go live in some nanny state overseas, there are plenty of them.
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+1 except for the form of govt cited. We are a democratic republic, not a representative democracy. Two different animals.
 
Quote from ksharmon:

Cramer Responds to Critics on Financial Transaction Tax

http://www.thestreet.com/story/1063...financial-transaction-tax.html?cm_ven=GOOGLEN

"To those who now despise me for saying that I could live with a transfer tax, understand, I do not want one. I do not favor higher taxes. Taxing trading would be bad for business.

But I am a believer that if we do not create jobs in this country we will fall horribly behind all others in the world. I think we will be doomed to permanently low growth, if no growth at all. I believe that it is incumbent upon everyone to sacrifice at this time.

I repeat, I am not so stupid as to want taxes to cut into profits.

However, for those who are not willing to sacrifice in order to create employment in this country, I say to you that you do not recognize what goes wrong if we don't get employment going in this country.

For those of you who say that I stabbed you in the back by saying that I could live with this tax, let me remind you of something: I can live with any tax IF it helps create jobs.

--

The comments are interesting also
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Cramer's doing a lot of talking & throwing stuff against the wall to see if the main topic gets forgotten.

The bottom line is he is for a jobs bill paid for by a trader transaction tax. Period. Read his last paragraph there & watch the video from this afternoon.

Nothing has changed.

Hopefully we won't turn on the TV one day & see Cramer standing next to Pelosi & Frank saying he knows Wall Street & he agrees it should go thru to create jobs.

Who would've thought that an ex-trader would be supporting something to eliminate us from trading?

Pretty sad.
 
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