Who mentioned that it could be snuck into legislation at the last minute? I just don't see that happening. I think that would cause a huge uproar but stranger things have happened.
-Guru
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1/4% Tax on all stock trades pushed in NY Times today
- Thread starter seasideheights
- Start date
Who mentioned that it could be snuck into legislation at the last minute? I just don't see that happening. I think that would cause a huge uproar but stranger things have happened.
-Guru
PatternRec
Guest
Quote from listedguru:
Who mentioned that it could be snuck into legislation at the last minute? I just don't see that happening. I think that would cause a huge uproar but stranger things have happened.
-Guru
Repeal of the 60/40 rule for 1256 contracts was snuck into a bill several years ago and all the industry heads and lobby groups made a very loud uproar which had it removed with a "technical correction."
I am a very effective swing and day trader in stocks.
I work with a daily list of very good volatile stock candidates that I can choose my trades from.
Every time, this trader tax discussion comes to the fore, my list starts to shrink dramatically. It's happening again just as the list started to build back up from last summer's fallout over this issue.
It had gotten so bad by the end of last year that I practically stopped trading all together because when I run my proprietary stock analysis software to narrow the list down to the most favorable candidates on a daily basis, there were days when nothing showed up at all after the usual filters were applied to the list -- So by my normal list standards, I was unable to trade at all because all of the good leads had dried up.
So, I always know when this traders tax discussion is heating up again just by looking at the daily shrinkage (as opposed to the daily growth) of my list.
This will definitely put short term stock traders out of business and alot of average joes who may be utilizing some of these traders services to grow their personal nesteggs.
Some things are just best left alone.
I work with a daily list of very good volatile stock candidates that I can choose my trades from.
Every time, this trader tax discussion comes to the fore, my list starts to shrink dramatically. It's happening again just as the list started to build back up from last summer's fallout over this issue.
It had gotten so bad by the end of last year that I practically stopped trading all together because when I run my proprietary stock analysis software to narrow the list down to the most favorable candidates on a daily basis, there were days when nothing showed up at all after the usual filters were applied to the list -- So by my normal list standards, I was unable to trade at all because all of the good leads had dried up.
So, I always know when this traders tax discussion is heating up again just by looking at the daily shrinkage (as opposed to the daily growth) of my list.
This will definitely put short term stock traders out of business and alot of average joes who may be utilizing some of these traders services to grow their personal nesteggs.
Some things are just best left alone.
Bank taxes are undermining reform
http://www.efinancialnews.com/story/2010-03-15/bank-taxes-undermine-reform
http://www.efinancialnews.com/story/2010-03-15/bank-taxes-undermine-reform
Asked if we would need a TV show about the difficulties of this tax, I don't think there is a chance in hell that this will ever pass.
There is no debate. The favorability for the tax is less than 10%, and was always unlikely to be passed. I doubt we'll ever need the show.
<script type="text/javascript" src="http://washingtonwatch.com/info/widget.php?id=200515025"></script>
Quote from mp_strategies:
What do you think? Has a nice ring to it don't you think?
Remember the documentary 'Who Killed The Electric Car?'
I think some of us should get together and create our own documentary with this title if that trader tax legislation passes.
Who thinks this is a great idea?
There is no debate. The favorability for the tax is less than 10%, and was always unlikely to be passed. I doubt we'll ever need the show.
<script type="text/javascript" src="http://washingtonwatch.com/info/widget.php?id=200515025"></script>
Where is this poll from? And how many voted on it?
Quote from bwolinsky:
There is no debate. The favorability for the tax is less than 10%, and was always unlikely to be passed. I doubt we'll ever need the show.
<script type="text/javascript" src="http://washingtonwatch.com/info/widget.php?id=200515025"></script>
He is/was against it last time I checked. He wants to stop banks from prop trading and have a direct levy on banks.Quote from andohmeeta:
Dodd:
http://www.google.com/hostednews/ap/article/ALeqM5g7ffRdswXTlfgaQS0FCOZmrvbwcAD9EF93700
Quote from muller:
Where is this poll from? And how many voted on it?
Apparently this poll is from WashingtonWatch.
This poll is more than a year old, from Feb. 18, 2009
A poll of readers of whatever leaning site does not mean much. Congress passes all kinds that the people, businesses and the economy don't want.
Hopefully, and there should be, enough aware of how damaging this would be to the economy.
http://www.washingtonwatch.com/bills/show/111_HR_1068.html
I don't see something like this ever passing, I think it is more a scare tactic to scare wall st. If something like this ever passed prop firms, retail firms, etc etc would be closed doors overnight. How would black boxes possibly send their orders? Not a chance this will pass, the market will go to a stand still and the economy will freeze. I spoke with many prop firms regarding this and they spoke with their lawyers who spoke with their people and rumor has it not a chance this will ever pass. This thread should be deleted.