1/4% Tax on all stock trades pushed in NY Times today
- Thread starter seasideheights
- Start date
That limit can be so easily hit by small traders trading in out of stocks even if the account size if only 25-30k! Our government doesn't want little people striking out a livelihood on our own. The want everyone to go begging for jobs that doesn't exists.
By granting this $100,000 limit, it removes objections 401k holders who are non-traders. Little does these 401k holders realized they would be taxed indirectly because those who manage these accounts do trade it.
Let's hope the Democrats agree with that concept.
England threw their stamp tax on unilaterally.
I think on this thread, given the importance of the subject, it's best stick to influential media, not anonymous tin foil hat/conspiracy theory blogs.
Geithner again coming out against the tax:
http://bloomberg.com/apps/news?pid=20601087&sid=a45uxLtxi3N8&pos=6
Given he's the most senior financier in the Obama administration, I think this is shifting the odds against it. Geithner, Germany, Switerland, Sweden all against - it will take a significant escalation in political anger worldwide IMO to make this go through globally.
Its great that we have Germany along as against the tax, but Seaside is right. You never know how stupid our dem legislators could be , stranger things have happened. We all know it would be detrimental, but they could do it or try hard for it. Even if they see it is not working, its the government and they are slow and will take years to repeal. So our best bet as always is to get in front of this now and keep fighting it regardless of who comes out against it until it is not talked about anymore!