financial transaction tax is on the table for real

Financial Stock transaction tax is a real possibility.

  • True

    Votes: 17 65.4%

  • False

    Votes: 9 34.6%
  • Total voters
    26
  • Poll closed .
This is extremely disappointing. I was going to vote for him in the FL primary. Maybe I should just vote for Bernie (who I think is less electable) and hope Trump (who I hate) wins re-election at this point, LOL. There's a decent chance Bloomberg is lying to appease the Democratic base and has no plans to actually push this nonsense. He's gotta know the reality is that this tax would destroy market liquidity and increase volatility (which is at an all time low despite what these idiots are saying).
 
Maverick2608 said:
I have to admit given Michael Bloomberg's knowledge of financial markets, I am surprised to see him support a financial transaction tax. Maybe I am naive, but I believe and hope this is something the data tells him he needs to support to get elected with no real intention to carry it out in real life.
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write him a email/letter showing him the math.
 
I just emailed my entire list with this, and highly recommend ALL of us incl et, brokers, educators etc do similar. It's finally a very real threat.


Protect Your Right to Trade: Vote Trump, or Bloomberg/Sanders Financial Transaction Tax Kills Trading

If democrats get Bloomberg or Sanders in the White House, it will very likely kill day & swingtrading. Because they want to pass a "financial transaction tax", which would wipe out any chance of profitable active trading.

I like every pro trader I know will be voting to re-elect Republican President Donald Trump. Please get the word out. A dem prez will kill our right to trade.

https://www.cnbc.com/2020/02/18/mike-bloomberg-releases-plan-to-reign-in-wall-street.html

https://www.cnbc.com/2020/02/18/leo...to-the-stock-market-than-the-coronavirus.html
 
Maverick2608 said:
I have to admit given Michael Bloomberg's knowledge of financial markets, I am surprised to see him support a financial transaction tax. Maybe I am naive, but I hope this is something the data tells him he needs to support to get elected with no real intention of carrying it out in real life.
More...

I'd say you're naive. The Democrats in general have been trying to get a FTT since when? 2008? Peter de Fazio was pushing it back then. All the Democrat economists are for it. And all of the people running for President now are for it. It looks like free money to them for their social programs. Bloomberg is no exception. Look at the programs he's proposing. He has to pay for them when he somehow. And if Trump gets beat, and they lose the Senate along with it, you can kiss trading goodbye. BTW, Bloomberg also wants to raise capital gains tax, corporate tax, and "special" taxes on the "wealthy". He's just another Democrat in my eyes.
 
More than likely, some type marginal usage fee/tax will be imposed. All cyber transactions will have a tax. Back to the old school barter system we go. I have eggs and chickens for trade....

Akuma
 
jpiper said:
I'd say you're naive. The Democrats in general have been trying to get a FTT since when? 2008? Peter de Fazio was pushing it back then. All the Democrat economists are for it. And all of the people running for President now are for it. It looks like free money to them for their social programs. Bloomberg is no exception. Look at the programs he's proposing. He has to pay for them when he somehow. And if Trump gets beat, and they lose the Senate along with it, you can kiss trading goodbye. BTW, Bloomberg also wants to raise capital gains tax, corporate tax, and "special" taxes on the "wealthy". He's just another Democrat in my eyes.
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Mnuchin was against it and Obama never pushed for it.
 
jpiper said:
Does anyone understand how this tax would be applied to a futures contract? For instance, the value of 1 ES right now is around $168,000. If the FTT is .1%, the tax is $168 one way. Is that the way they figure it? Or do they use some other method? If it's the way I just suggested I think that closes down the ES market.
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"normally" "they" don't do this on futures I guess...
 
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