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

Quote from justrading:

I suggest you look at it differently.

If all that is on this thread is for the benefit of those that subscribe to it, then we are all wasting our time preaching to the converted.

A quick glance earlier showed 80+ members and 300+ guests on the board. Now a number of the guests may be members who have not logged in, but we do get a lot of lurkers and casuals. Most will not bother to go back through the long thread. Most will probably not bother clicking on every link and reading all the articles. A little excerpt and comment pointing out how silly it is goes a long way to improving visibility.

Proponents of the FTT never tire of telling the world it will solve unemployment (permanently it now seems), climate change, bring development to the world and solve global poverty. By the time they are finished with the blarney, you would be painted as darned unpatriotic not to support the proposal.

So whilst it may be as exciting as a hangover that won't go away, we do need to keep on message, and keep it up in the same way advertisers continually advertise their products.
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thanks for presenting a different perspective.
from time to time it is necessary to provide the numbers that would show that even the smallest proposed ftt would put prop stock traders out of business.
 
Quote from TraDaToR:

http://www.usnews.com/opinion/blogs...-would-be-good-for-the-economy-and-the-budget
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this article so f** up on so many levels..

would generate more than $350 billion over the coming decade, according to a non-partisan analysis of similar legislation introduced in 2012.

So we are talking about serious money, and a proven way to raise it. Similar taxes already exist in more than 30 countries, including the United Kingdom, South Korea, South Africa, India, Hong Kong and Brazil. Encouraged by their experience, France, Germany, Italy, Spain and seven other European countries are moving forward with plans to adopt a coordinated speculation tax.

[See a collection of political cartoons on the economy.]

It's a tax – no getting around that. But it's also a way to help close what amounts to a huge tax loophole. Americans pay sales taxes on all manner of goods and services. Wall Streeters don't pay sales taxes when they buy and sell securities. That fact helps explain why the financial sector, which generates some 30 percent of the nation's total corporate profits, pays only about 18 percent of corporate taxes.
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but before all this -i like to see gvt CUTTING the spending. and study the effect on those taxes in countries above. what a dumb**ts..it would be also nice(since they referring to 'wall streeters')that the tax should be applied to everyone EXCEPT the retail. this would make SOME sense.
yeah..and let's see what GS will say in this case to this dumb**ck defazio..but..it's ain't going to happens and one again, if they enforce FTT-we,the retailers will be the ones,who will(or not) foot the bill. the problem is (for those,who expect a cool 300+B)-they won't see it. retail is gone already long time ago. what you are going to see(in exchange for a few M's into the budget from this FTT scam) is lower volume,les liquidity,wider spreads . the spreds will be so f** wide that those dumbf**ks at SEC with their 5% halt rule will be halting damn stocks all day long. what a bunch of morons. on every f** level. sad and pathetic to see the mad man at work

nice comparison to a sales tax. idiotic
 
Aye, sales tax is corporate tax now, those pushing this have not got the slightest bit wiser in what, 2-3 freaking years? Its been quiet lately but reading a pro article, the simple minded thinking applied to such an issue still makes me cringe, hard.
 
Quote from Bob111:

this article so f** up on so many levels..



but before all this -i like to see gvt CUTTING the spending. and study the effect on those taxes in countries above. what a dumb**ts..it would be also nice(since they referring to 'wall streeters')that the tax should be applied to everyone EXCEPT the retail. this would make SOME sense.
yeah..and let's see what GS will say in this case to this dumb**ck defazio..but..it's ain't going to happens and one again, if they enforce FTT-we,the retailers will be the ones,who will(or not) foot the bill. the problem is (for those,who expect a cool 300+B)-they won't see it. retail is gone already long time ago. what you are going to see(in exchange for a few M's into the budget from this FTT scam) is lower volume,les liquidity,wider spreads . the spreds will be so f** wide that those dumbf**ks at SEC with their 5% halt rule will be halting damn stocks all day long. what a bunch of morons. on every f** level. sad and pathetic to see the mad man at work

nice comparison to a sales tax. idiotic
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+1
 
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