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

helpme_please said:
I don't think the British are so stupid as to commit suicide. This will not pass. I can understand why Brexit went through. The immigration policy is hard to tolerate when the pace of new faces, new culture is too fast. Harming their financial hub advantage is suicide. The British are too smart for that.
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Good points,HelpMe+ it was not just the speed[new faces ,new culture to fast]I hope + pray you are right on the latter, you are certainly right on the former.Tally-ho................................
 
sheda said:
Under the plans, financial institutions would pay a levy of 0.2% on derivatives transactions, and non-financial institutions would pay 0.5%.

Labour would also lift the current stamp duty exemption on 'market makers' or intermediaries such as hedge funds. Currently, institutions which provide market liquidity by being able to buy securities from individuals and professional corporate bodies can claim relief on all their share purchases.

Labour shadow chancellor John McDonnell told Sky News at the weekend the proposed FTT was a “small transactional tax” which would help fund public services.


London is over.
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Which is why people without a demonstrable work experience within finance or an economics degree shouldn't be allowed to vote on political parties proposing insane tax/regulation laws.
People in the UK (and i suspect most countries) are so unhappy with.. im not sure what, but they are unhappy.. will vote for anything that sounds nice. Not anything that will work.

Labour also proposing a land value tax. That will increase most people's council tax about 400% and wipe out the property market in the south east.. another one of the UK economy's golden geese.


Insane, sorry off topic probably. Rant over.
 
tommo said:
People in the UK (and i suspect most countries) are so unhappy with.. im not sure what, but they are unhappy.. will vote for anything that sounds nice. Not anything that will work.
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Somewhat related, Theresa May recently proposed a complete ban on encryption (never let a terrorist attack go to waste).
Totally unworkable and impossible like many financial "fixes".
 
stevegee58 said:
Somewhat related, Theresa May recently proposed a complete ban on encryption (never let a terrorist attack go to waste).
Totally unworkable and impossible like many financial "fixes".
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Funny how more government and more "solutions" invariably leads to more problems.
But seems like a one way street to more complexity. Its relatively easy to write a new law compared to scrapping one.
 
David Donner said:
Doug Kass starting to yap about a transaction tax again.
https://twitter.com/x/status/1077947135713312771
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Best solution is have Doug Kass send that''small T tax'' to Treasury, his trades.We dont want any more tax , increases- the bear trend is doing well with out any more taxes/tariffs. And the 5 +/page debate on HFT, 5 page magazine article , HFT won the debate. Modern Trader mag i think it was.
And dont believe all you read in WSJ about mad market machines..... Every trading machine has been programmed by a human . But it makes a fun scary read for some to read, as if mindless robots selling out of control.......:D:D LOL
 
murray t turtle said:
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Best solution is have Doug Kass send that''small T tax'' to Treasury, his trades.We dont want any more tax , increases- the bear trend is doing well with out any more taxes/tariffs. And the 5 +/page debate on HFT, 5 page magazine article , HFT won the debate. Modern Trader mag i think it was.
And dont believe all you read in WSJ about mad market machines..... Every trading machine has been programmed by a human . But it makes a fun scary read for some to read, as if mindless robots selling out of control.......:D:D LOL
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Agree. How come no one complains about buy programs on the way up? It's only when markets are going down that the general public blames computers.
 
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