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

The senator also said he expects Obama to use the Jan. 27 nationally televised address before Congress to embrace creation of a commission that would suggest spending cuts and tax increases that Congress would be forced to vote on. Bayh met this week with Treasury Secretary Timothy F. Geithner, Vice President Joe Biden and U.S. Office of Management and Budget Director Peter Orszag to discuss such a commission.

Bayh said he doubts Congress would approve establishment of such an independent panel, and that Obama would have to set it up by executive fiat.

Getting the 60 votes likely needed for Senate passage of a bill to create the commission “will be very hard,” said Bayh, a second-term Democrat who will face voters in this fall’s midterm elections. He said that as a result, he expects Obama to “then come forward with an executive commission which is not as good, but is at least there’s a step in the right direction.”

http://www.bloomberg.com/apps/news?pid=20601087&sid=a.pJ5uNs8bNc
 
I have read a few of the comments on the IMF comment page in opposition to the tax. In my opinion I think anyone who comments shouldnt focus on the trading aspect and how it will ruin trading. I think the IMF doesnt care how it affects trading or doesnt care that it increases the cost of an sp contract , which is also what I saw on there. They are more inclined to worry about jobs, gdp, economy, the real big effect on captial flows and what not. So again in my opinion we should be fighting this transaction tax on the global level, which is what the IMF is about with economical effects in the big picture. Our domestic fight in congress is more about mom and pop retiree and the effects it will have on trading and what not.
 
Quote from rsikit:

Seems like the same uptick rule from back in the day that everyone dealt with just fine. Or is it something more complex?
More...

i suggest you read it carefully before making off the cuff remarks.
 
I was simply asking you a question, I read it and its not as bad as your little GAME OVER doom and gloom comment. Traders adapt to what they are given, well if you cannot understand that, then I mean good traders adapt. So with all your negative comments on here over the past how everyone is done, but yet we are still here kicking and that's because we adapt to the situation. There are lots of things that were done and can be done to short when necessary if that's the way someone wanted to trade. By no means would this new rule if adopted be game over as you say. It seems from your comments you are bitter for some reason at other people. Sad life you must lead
 
You must log in or register to reply here.
Back
Top