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

Quote from listedguru:

I think this will all settle down once we get passed the G20 meeting in November. The G20 is going to give a global ftt a huge thumbs down so hopefully things will calm down then.

Right now there is a lot of hype heading into that meeting with all the protests and the upcoming Defazio bill (again). If the ftt were a stock I would start shorting it soon:)

-Guru
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why do u keep posting pollyannish nonsense?
just for the record how many shares do you trade per day.
it can't be much.
http://www.elitetrader.com/vb/showthread.php?s=&postid=3318729#post3318729
 
Quote from Stok:

Isn't .001% of 50k be $10 roundturn?
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He's talking 1/10th of 1%.

1% of $50k = $500, 1/10th of 1% = $50.

$50 each way.

$50 on the buy + $50 on the sell = $100 in taxes on a 50k trade.
 
Guru is correct, Wall street is going to get to cold and those worthy of a seat at the G20 are no more economically illiterate than they were the last time they were there..

I think the repetitiveness of this is frankly pissing every one off, add to that the fact that the degree of fool pushing for this has now hit purebred,its hard to envision this ending yet it will.
 
Uk not against financial transaction tax (if global) Osborne:

http://in.reuters.com/article/2011/10/10/britain-osborne-tax-idINL9E7LA00220111010

Oct 10 (Reuters) - Britain does not oppose a financial transaction tax as long it is adopted globally and is not restricted to Europe, Finance Minister George Osborne said on Monday.

"I am not against financial transaction tax in principle ... what I am against is a European financial transaction tax," Osborne told parliament.

"If we can get global agreement with the United States and China and others on a world financial tax, all well and good. I don't personally think that is terribly likely," he added.
 
I just see a massive campaign about to start with the OWS crowd being sponsored and now making the FTT their goal. They are here in Dallas and Fort Worth now acting like fucking drones. Now this global occupy deal for the FTT is scary. Headlines today are the Dems embracing this movement as "their" tea party....Defagio is introducing the FTT again, and as this gets louder, the main media (NBC, CBS, ABC, MSNBC) are all liberal biased, this can get big time coverage.

Europe will rally hard on all this, as they see a window open to possible change the minds of the USA....Now with the UK saying they aren't opposed to a global FTT, this could get ugly, and the populists love this.
 
Quote from Stok:

I just see a massive campaign about to start with the OWS crowd being sponsored and now making the FTT their goal. They are here in Dallas and Fort Worth now acting like fucking drones. Now this global occupy deal for the FTT is scary. Headlines today are the Dems embracing this movement as "their" tea party....Defagio is introducing the FTT again, and as this gets louder, the main media (NBC, CBS, ABC, MSNBC) are all liberal biased, this can get big time coverage.

Europe will rally hard on all this, as they see a window open to possible change the minds of the USA....Now with the UK saying they aren't opposed to a global FTT, this could get ugly, and the populists love this.
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Keep in mind that Osborne from the UK saying that he isn't against a ftt if it's global is not new. He's been saying that line for quite awhile now.

I really don't get the whole we're not against the ftt if it's global stuff. Even if the entire G20 agreed to this tax that would not change the fact that this is still a terrible tax. This is not a tax on the banks it's a straight up tax on investment and savings. At least Geithner seems to get that. But maybe Mr. Osborne is trying to be kind knowing damn well that global agreement on the ftt is a pipedream.

At any rate, I am a confident that this entire OWS movement which has been hijacked by the union thugs and democrats will fall on deaf ears after the G20 rejects the ftt. Go ahead and call me pollyanish (LOL)...

-Guru
 
Quote from listedguru:

Keep in mind that Osborne from the UK saying that he isn't against a ftt if it's global is not new. He's been saying that line for quite awhile now.

I really don't get the whole we're not against the ftt if it's global stuff. Even if the entire G20 agreed to this tax that would not change the fact that this is still a terrible tax. This is not a tax on the banks it's a straight up tax on investment and savings. At least Geithner seems to get that. But maybe Mr. Osborne is trying to be kind knowing damn well that global agreement on the ftt is a pipedream.

At any rate, I am a confident that this entire OWS movement which has been hijacked by the union thugs and democrats will fall on deaf ears after the G20 rejects the ftt. Go ahead and call me pollyanish (LOL)...

-Guru
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Let's say for example that the entire G20 agreed to enact a global FTT. It still wouldn't happen, as each country would need their respective Governments (ie: House/Senate) to agree to pass it. You can't have each countries respective leaders agree to a FTT, and think that it's now the law. It simply doesn't work that way, and in the end, there will be no global FTT. Other countries may commit financial suicide by enacting it, but there will never be a global consensus for such an idiotic proposal. I guess I can be called pollyanish as well. lol
 
Quote from listedguru:

Keep in mind that Osborne from the UK saying that he isn't against a ftt if it's global is not new. He's been saying that line for quite awhile now.

I really don't get the whole we're not against the ftt if it's global stuff. Even if the entire G20 agreed to this tax that would not change the fact that this is still a terrible tax. This is not a tax on the banks it's a straight up tax on investment and savings. At least Geithner seems to get that. But maybe Mr. Osborne is trying to be kind knowing damn well that global agreement on the ftt is a pipedream.

At any rate, I am a confident that this entire OWS movement which has been hijacked by the union thugs and democrats will fall on deaf ears after the G20 rejects the ftt. Go ahead and call me pollyanish (LOL)...

-Guru
More...

I agree with you listedguru....and we all know this is a horrible, killing tax. But, the OWS and liberals just cannot comprehend that.

But, there is a bigger issue here that I have mentioned before and it is the behind the scenes stuff that scares me. I believe there is a massive liberal, socialist movement that wants to kill capitalism at all costs. FTT is a great bullet or nuke that is sold to the stupid and they believe that is hurts the banks, when it is just the individual investor who pays (like the $5 ATM bankofamerica fee).

Reading all this dribble that is pro-FTT makes all of us want to puke because it is 99% BS, but to the liberal, OWS, young idiot crowd (and the European crowd who demands entitlements), this is a very popular idea, no matter how bad it is.

Just get ready to see this on the nightly news more and headlines in many major papers within coming months.
 
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