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

Plenty of posters here are sure this will not go anywhere. Time and again for YEARS this has been debated, with thankfully a growing chorus who DOES realize it is closer than anyone thinks.

One cannot take this lightly, argue that Schumer etc. is opposed so it will never pass even if it gets to the Senate floor, etc.

What worries me most is so many think this will never pass, which means it probably will. It causes too many to shrug it off, assuming Geithner will not agree, etc. so before you know it, politicians ram it down our throat before we can even say "WTF?" and then it is outright reality and not going anywhere.

We should ALL assume it can happen with ease unless we constantly oppose and take direct action, both election-wise and individually, in a never ending war, because that is what this is.

Any complacency is bound to be fatal...
 
Quote from drukes1234:

I, like many of you thought it was unrealistic to think that responding and commenting to articles on the tax and contacting congressmen/senators etc would work but we have clearly had an impact and I'd like to say to everyone that so far we have done a great job but we MUST continue to be vigilant and MUST continue to do even more than we already are to keep this tax from gaining any momentum
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I agree 100%. I write a comment on virtually every article. It does not take very long after the first comment because you can use similar bullet points. Folks, take a few minutes out of your day to comment. If time is a problems simply paraphrase. I support a family run a side business and trade all day, so I know what it is like to have limited time. But it literally takes 5 to 10 minute.......

Great thread!
 
I have responded in forums against the tax with a view toward ordinary investors being affected, because the GENERAL public is angry at what they consider "Wall Street" and (small retail) traders are lumped incorrectly with big players who "took down" financials the past year.

I have wrote public officials, even emailing each senator individually, tailoring the message to person and their pet groups.

I do not think there is any way to overdo our reaction against and the danger is, even now, in retail traders taking this less seriously than they should, because it is quite a danger, not a long shot if the right things and the right momentum happen.
 
More people should write on the hill article and politico article about dems souring on th stock tax. There are only a few comments on each but the last hill article last week had over 700 comments. This one should have the same showing our agreement with dem opposition to the tax and challenging the rest to sign the letter.


EDIT : There is only like 25 comments on the hill and 5 on politico. Not enough especially when they are on our side! Let them here how we agree!
 
Sent my letter or Rep Sires of Hudson Cnty, NJ to urge him to join the Dear Colleague protest as it would affect his constituency as much as anywhere, since Jersey City is the home of many firm's back office operations and lower paid employees. Got to get all these Reps local to these markets to jump on board and denounce this lunacy.
 
Quote from rsikit:

More people should write on the hill article and politico article about dems souring on th stock tax. There are only a few comments on each but the last hill article last week had over 700 comments. This one should have the same showing our agreement with dem opposition to the tax and challenging the rest to sign the letter.


EDIT : There is only like 25 comments on the hill and 5 on politico. Not enough especially when they are on our side! Let them here how we agree!
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Good point; will do.
 
Quote from ksharmon:

The Vanguard 500 Index fund, as Mike Santoli pointed out in Barrons, would have paid $34 million on a financial transaction tax of 0.25% in 2007 because it bought and sold a total of $13.6 billion of securities that year. This would double the expenses of the fund
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How much did they pay in soft commissions? Including commissions to themselves. I but they could hold expenses steady and just do without as much excessive profit.
 
Quote from rsikit:

More people should write on the hill article and politico article about dems souring on th stock tax. There are only a few comments on each but the last hill article last week had over 700 comments. This one should have the same showing our agreement with dem opposition to the tax and challenging the rest to sign the letter.


EDIT : There is only like 25 comments on the hill and 5 on politico. Not enough especially when they are on our side! Let them here how we agree!
More...

OK. Did the Politico, but where is the link for the Hill artilcle?
 
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