How likely is it now that a financial transaction tax will pass?

[TimtheEnchanter]

I think someone needs to take his medication...

 

[gkishot]

That is old news. That is 100% irrelevant at this point.

https://www.elitetrader.com/et/threads/kamala-wants-a-0-2-transaction-tax.348870/page-2#post-5180486

You math is way off. The transaction tax is on the size of transaction ( = position size ) not on profit you make. This would be capital gain tax. And this is regardless of whether you make a profit or not. You can redo your math now.

 

[JSOP]

I can stop trading, but if they do it retroactively, my million dollar roth ira will be wiped out

I don't think they will do it retroactively IF they really do manage to pass the FTT. Remember, they have the majority in both houses but not by a very large margin. So on majority of the bills, they will still need bipartisan support. Time to call your congressman/woman to complain!!

 

[takeprofitsalways]

You math is way off. The transaction tax is on size of transaction ( = position size ) not on profit you make. This would be capital gain tax. And this is regardless of whether you make a profit or not. You can redo your math now.

Yeah that overnight guy is on drugs and just speaks without doing research. A true birdbrain

 

[JSOP]

Find me the text for the proposed FTT that you fear will be singed into law, and we'll review it together. Because at this point it is ephemeral, and is fear-mongering.

Singed into law??!! like this?

Didn't know Biden could sing, dressed like that?

 

[zdreg]

What you are saying, is that you made all of your MILLIONS last year, but somehow, in some way, a tax of less than 100 percent on your trades would bankrupt you. WHO or WHAT the hell are you, and why do you exist?

It would bankrupt day traders. Do I have to show the calculations again to get rid of the nonsense that day traders can beat a FTT?

 

[ctheo1]

You are a useless waste of space on this forum, because what you just typed is not logical. What you typed is impossible.

What you are saying, is that you made all of your MILLIONS last year, but somehow, in some way, a tax of less than 100 percent on your trades would bankrupt you. WHO or WHAT the hell are you, and why do you exist?

From what dimension do you come?

Why don't you endear us with your millionaire trades last year, and explain to us how a "FTT" will make you owe money and BANKRUPT you?

HUH? You are teetering on the edge between being a millionaire and a bankrupt refugee on a .0X% tax on trades?

Please enlighten us. My spidey sense in on fire right now.

+1

 

[traderslair]

This is pure comedy gold, takeprofitalways answered all questions that Overnight deemed impossible

libtards are funny again in 2021!!

 

[zdreg]

Yeah that overnight guy is on drugs and just speaks without doing research. A true birdbrain

Give him a break.
If there were no birdbrains who would pay for for the cocaine and the mistresses of the market makers?

 

[smallfil]

That is the least of your problems. Higher capital gains rates are coming under Joe Biden and it will crash the stockmarket. Extreme liberal ET trolls praying for a market crash will finally, get their wish.