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

Quote from Redshak:

I am going to post example calculations on the website so traders can really understand what it means to their business.

I will ask that if there are errors on the web site that I be notified so it can be corrected.

if this is on the thread already, it would help me

example tax calculations for each market

stocks
bonds
options
futures
forex
et cetera

for example, the way I read the tax act, both sides of one transaction are taxed.

Thus, one transaction is a buy/sell or a sell/buy and the base rate is then 2 x .03% = .06%

Say for example, a Futures contract has a base value of $100,000.

Then to enter/exit ONE contract (long/short or short/long) is going to cost

.0003 x 2 x 100,000 = $60

if the current transaction cost (broker fee, etc) is $6 for one contract, then this is a 1000% increase in the transaction cost

Please correct me if I'm wrong

Forex would have a similar problem, and Options, since they are leveraged.

For Stocks, one simply begins further in the hole, at the first entry, than before and the stock has to work harder than before, just to break even.

Well, I am going to post information on the web site and then ask others to review it and correct any errors.
More...

I think it's best to use very specific examples:

At current Value (1435) ES futures FTT would be $43.05 round trip. Or perhaps round to 1400 ($42 FTT round-trip), but it should be a value that anyone who trades it would instantly recognize.
 
since I'm focusing on the web site production...

does anyone care to contribute specific real world examples for each type of market

I would like to use also

ES
CL
NG
6E

for futures, the examples can be reviewed here before I integrate them

prices tied to today, for example

stocks
apple
ibm

et cetera
 
I should clarify that the first web site will be for traders, showing a concise summary of FTT, calculations, outline the follow-up project to the public, and then asking for support in skills or money. I want to build a small core of dedicated people who are willing to donate some time and energy to this project, as well as receive money for any professional services we many need (video production, tax and entity advice, web master, fund raising, et cetera)

The second web site will be for the public. It will have focused, short youtube videos with the primary message showing

1) Main Street is going to pay the full FTT

2) A series of short, concise videos showing the unintentional results of the FTT

3) Redirect the angry energy to better, more positive solutions

All the time acknowledging that the anger and frustration are real, and acknowledging the INTENT of the FTT is good but can never be met. (The Intent will fail, and instead there will be Unintentional results.)

(We need to break through the emotionally based fantasy that the FTT is going to punish Wall Street and bring tons of money to Main Street. That is what the public, and quite a few leaders and politicians, believe. This is the challenge.)

Then this new group would work parallel to the people working in this thread, and in collaboration.
 
Quote from Redshak:

since I'm focusing on the web site production...

does anyone care to contribute specific real world examples for each type of market

I would like to use also

ES
CL
NG
6E

for futures, the examples can be reviewed here before I integrate them

prices tied to today, for example

stocks
apple
ibm

et cetera
More...

ES futures contract @1400.00 = $42 FTT per round trip

CL futures contract @90.00 = $54 FTT per round trip

6E futures contract @125.0000 = $75 FTT per round trip
 
Barroso again on his version of social justice, 12 Sept 2012:- "And the Commission will continue to fight for a fair and ambitious Financial Transactions Tax** that would ensure that taxpayers benefit from the financial sector, not just that the financial sector benefits from taxpayers. Now that it is clear that agreement on this can only happen through enhanced cooperation, the Commission will do all it can to move this forward rapidly and effectively with those Member States that are willing. Because this is about fairness. And fairness is an essential condition to make the necessary economic reforms socially and politically acceptable. And above all fairness is a question of justice, social justice."

**described here as a batty and irrelevant policy:-

--http://www.telegraph.co.uk/finance/financialcrisis/9538595/Debt-crisis-Barroso-may-want-political-union-but-whats-in-it-for-the-people.html[/url]

Semeta says still working on 9 or more EC for ftt, just because it does not headline, doesn't mean it is lost somewhere...

--http://www.euractiv.com/euro-finance/semeta-fiscal-union-involves-tax-interview-514735
 
I just had an email exchange with a very intelligent, well educated engineer who told me that she is for the FTT, and she believed most of the public was.

If Obama wins.......

Please consider, each of you, putting in some effort to bring more education to the public.
 
Quote from Redshak:

I just had an email exchange with a very intelligent, well educated engineer who told me that she is for the FTT, and she believed most of the public was.

If Obama wins.......

Please consider, each of you, putting in some effort to bring more education to the public.
More...

Redshak, thanks for the help/support. One thing that I don't know if you are familiar with is a direct bank tax that Geither is for. That is the only way to actually tax the banks fairly and once you can explain that and how main street pays the FTT, a lot of people will understand. Unless they are die hard liberals/socialist/communists....which is a fine line now these days to the whole democratic party. The dems have changed so much since even the Clinton years.

Anyways, the bank tax is called a bank levy and it is on their assets.
 
Quote from Redshak:

I just had an email exchange with a very intelligent, well educated engineer who told me that she is for the FTT, and she believed most of the public was.

If Obama wins.......

Please consider, each of you, putting in some effort to bring more education to the public.
More...

Just vote Democrats out of the White House and Congress. They will ruin US economy.
 
Quote from vicirek:

Just vote Democrats out of the White House and Congress. They will ruin US economy.
More...

++++++1111111

Problem is the dems have duped so many people and the media on their side...it's gonna be tough.
 
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