Call for End to Short Term Investing
- Thread starter sophiekay
- Start date
unless the govt can guarantee a return of 10% per year for every american that invests for the long term, that would be the only way you can really push this tax. but guess what thats not gonna happen so if an american has to invest on a 15 year plan or 15 min plan to get those results then thats what they have to do. another thing that all these politicians dont understand is that the usa is like microsoft how much more growth do you think we are gonna see. we have had our time of supergrowth as a nation. the usa is blown out. not much room for tremendous growth. alot easier for the dow to go from 1000 to 10,000 then from 10,000 to 100,000.
ps we wont see 100k in our grand kids lifetimes.
ps we wont see 100k in our grand kids lifetimes.
The excise tax proposal was thrown in there by Bogle (Vanguard) and Trumka (AFL-CIO). They have been pushing for this for the better part of a decade and have gotten zero traction with it. Markets are opening up all over the world, taxes like this are a relic of the past not the future. Look to asian and even parts of europe for the future. One door closes another opens, there are parts of the world that would love to have more speculators in their markets. But there is nothing to fear over this becoming law, simply to many people with a vested interest in the way markets are currently. Hard to rally support for an excise tax on the investor class of America. With that said never isolate yourself in the markets, I would recommend everyone start to look at trading opportunities in asia and europe.
Agreed, Buffet 20 years ago had a radically different mindset, than he has today. Without the promise of short term growth, he wouldn't have the wealth that he has today.
Wall Street won't like this, commish is there bread and butter.
This is just another example of people, in light of the current regulatory environment we seem to be heading, throwing whatever they can against the wall and hoping something sticks because from their perspective, the wall is white and empty. It's nice to get worried about what some people are proposing (can you imagine this new idea standing up to scrutiny in an American court with American laws?) but most of what is being proposed will not see the light of day. But the way we have been trading for the past decade is about to change and we better prepare for something. The only way to stop it is to change the face of Congress in '10.
BTW, isn't it nice that now Buffet wants to change the rules after he has made all his billions trading those damn pesky derivatives now that he's only got a few years left. When will people realize that this Buffet is not the same Buffet from 20 yrs ago, let alone 10? This is a man who is facing his mortality and doesn't care what happens a few years from now.
BTW, isn't it nice that now Buffet wants to change the rules after he has made all his billions trading those damn pesky derivatives now that he's only got a few years left. When will people realize that this Buffet is not the same Buffet from 20 yrs ago, let alone 10? This is a man who is facing his mortality and doesn't care what happens a few years from now.