1/4% Tax on all stock trades pushed in NY Times today
- Thread starter seasideheights
- Start date
DeFazio states that "In addition, if someone trades overseas, the broker making the trade is still responsible for paying the tax." http://www.defazio.house.gov/images/zoom/MZCTYM/wall street - main street summary.doc
Not sure but when Strauss Kahn gave his thoughts on the tax a month or so ago, Lipsky also stated in the media that he didnt see the merit in the tax and he was leaning toward the insurance levy modeled after the FDIC. Thats what Lipsky and DSK both said. so we shall see if they stick to their inital guns.
The markets from that era and today are completely different worlds. Hell, the market from the 1980s is radically different from today! Back then who really actively traded? What was the volumes like, not just 1966 but 1986?
I did a little research in my local library, and guess what I found out. We had stock taxes before, in 1898. The next one was 1914. Do you know what they were both for? Wars. Congratulations, you support a proposal that funds death.
You know, loufah, if you really believing in paying a transaction tax. Then why not put your money where your mouth is, and order your broker to withdraw a set amount of cash each day or time when you make a trade (you do some sort of trading right, or at least passive investing?). Have your broker automatically make a check out to the government as a donation.
Now don't come back at us and say you donate your time for X or you give annually to charity. If you really believe in this, then do as I suggested. Have your broker, withdraw a set amount of your balance with them, when you open a trade and close a trade, and have them send a check to the Internal Revenue Service.