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

Quote from drayton sawyer:

As Han solo would say from the movie star wars, "i have a bad feeling about this!!" I am just now after 5 hard years seeing my trading become profitable. i make 2-3 trades per day and that is it. it will make me sick ( i know this includes all of us) if this thing gets implemented into law. i certainly hope this thing goes away, but with all the support, i am very fearful.
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"Hoping it will go away" is a prescription for failure. We have to fight the FTT in Congress. That's where tax laws are written.

1) Get educated: http://financialtransactiontaxes.com/

2) Contact your congressional representatives and make clear to them that you oppose the FTT and why you oppose it.

3) Contact everyone else you can find in the trading business (e.g., brokers, forums, etc.) and encourage them to educate themselves and take a stand against the FTT.

4) In the upcoming election, support anti-FTT candidates with money and votes.
 
Quote from Stok:

Every time I read a HuffPos article (mainly from the ones posted here), I feel the need to take an immediate shower because the Huff is one big liberal shill full of liberal lefties blowing each other....shiver... :-)

The reason we are seeing these articles re-hashed is that there is behind the scenes peeps at work who tell these liberal blowhard journalists to rehash FTT...this will continue for the rest of our lives BTW.
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Today's biased, deceptive, conned HP journalist - wrong again and we take exception to the propoganda lie re Australia using taxes on financial transactions...

January 30th, 2012: Australian Treasurer Swan:-

"Large and small businesses all across Australia use financial transactions every day to prudently manage their risks, strengthen their business models and, ultimately, protect Australian jobs.

"The Government has no plans to introduce a financial transaction tax"

It is not Oz policy, never has been.
 
Quote from Stok:

Every time I read a HuffPos article (mainly from the ones posted here), I feel the need to take an immediate shower because the Huff is one big liberal shill full of liberal lefties blowing each other....shiver... :-)
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Many people are not aware that most of the "journalists" featured on Huffington are unpaid contributors. They aren't paid a cent.

She was able to create a great business model.

She capitalized on the need that some people have to see their name in print...then she packaged the whole thing and sold it to AOL.
 
Quote from andohmeeta:

Today's biased, deceptive, conned HP journalist - wrong again and we take exception to the propoganda lie re Australia using taxes on financial transactions...

January 30th, 2012: Australian Treasurer Swan:-

"Large and small businesses all across Australia use financial transactions every day to prudently manage their risks, strengthen their business models and, ultimately, protect Australian jobs.

"The Government has no plans to introduce a financial transaction tax"

It is not Oz policy, never has been.
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Next time try sending this sort of comment to HP. For the last article mentioned here I sent a comment taking exception to the assumption that HFT induced volatility is the cause of mutual fund redemptions and hedge funds going private. I pointed out that current volatility to a large extent is headline driven by the European mess, and provided evidence that the hedge funds were actually going private to avoid regulatory scrutiny.

I suggested that the author should clearly declare either a desire to eliminate HFT or introduce FTT, but not use one to achieve the other as this indirect means hurts people unnecessarily.

I though it was all firm but polite, nevertheless my comment did not get published. Apparently free speech at HP means you can yea or nay, but you cannot point out the authors lies, distortions or disingenuity. Either that or they hated that I was citing articles from the NYT, CSM and Bloomberg.
 
Quote from justrading:

Next time try sending this sort of comment to HP. For the last article mentioned here I sent a comment taking exception to the assumption that HFT induced volatility is the cause of mutual fund redemptions and hedge funds going private. I pointed out that current volatility to a large extent is headline driven by the European mess, and provided evidence that the hedge funds were actually going private to avoid regulatory scrutiny.

I suggested that the author should clearly declare either a desire to eliminate HFT or introduce FTT, but not use one to achieve the other as this indirect means hurts people unnecessarily.

I though it was all firm but polite, nevertheless my comment did not get published. Apparently free speech at HP means you can yea or nay, but you cannot point out the authors lies, distortions or disingenuity. Either that or they hated that I was citing articles from the NYT, CSM and Bloomberg.
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I've had several on my comments not published with HP, but others did. This is what liberals are all about....censorship for their own agenda and it runs from the college professors to NBC,ABC,CBS nightly news.
 
I found interesting comment and took the liberty to copy and paste it here because it is very informative.

link:

http://www.businessmanagementdaily.com/31964/occupy-and-tax-wall-street

Copy of the comment from this site:

Why do governments always punish investors and incentivize indebtedness that lead to financial crises? To create financial famine.

¡°A coalition of nurses¡¯ unions and other activists gathered together to protest the vast wealth accumulating in securities¡± ¨C Brilliant. That would be their own pensions, everyone¡¯s retirement plan.

¡°the U.S. hasn¡¯t done so since 1966¡å ¨C only the wealthy could afford to invest with that tax. The middle class had very low participation until that ¡°tiny little tax¡± was removed. That¡¯s what this tax is about. Taxing the investment infrastructure, indirectly and directly taxing middle class wealth, drastically reduce investment participation, create dependence on government subsistence, giving power and wealth to those that create these financial famines.

¡°Due to the expected sell-off in stocks at year-end¡± ¨C The U.S. introduced the transaction tax just before the 1929 crash. The whole point is to crash the market like 1929 and cause another Great Depression, gain power and advance corruption.
 
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