What if u cross the street and get run over by a garbage truck tomorrow? What if u take a train and gotta poop and shit on yourself? What if this and that? U sound like a whiny bitch. That’s what u sound like.
How likely is it now that a financial transaction tax will pass?
- Thread starter takeprofitsalways
- Start date
Maybe you don't trade for a living or are a shit trader, but this impacts all profitable traders that make this a career and have invested so much time in learning the process.
Without the details of the plan, it is all speculation. I have been saying this over and over again. What was an idea a year ago is not what will be realized 2-3 years later, if ever. We need the details of the plan that will be submitted to the overlords.
Any transaction tax has to be ruled out. The goal is to get the camel's nose under the tent. Then the tax will be raised periodically.
re:history of income tax
the federal income tax was implemented to help finance World War I in 1913, the marginal tax rate was 1% on income of $0 to $20,000, 2% on income of $20,000 to $50,000, 3% on income of $50,000 to $75,000, 4% on income of $75,000 to $100,000, 5% on income of $100,000 to $250,000, 6% on income of $250,000 to $500,000, and 7% on income of $500,000 and up
Those numbers have to multiplied by 15x in today's dollars. e.g. 15 x 500,000 is 7.5m.
Think about what tax rates are today being all-inclusive reaching 50% in ny and cali.
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We are talking about 0.1% tax on all transactions, buy and sell. As simple as that. Plus capital gain tax of course. What kind of "details" you think will save people from compelling them to take more risk or even ruining their strategies and their businesses? Give examples.
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Obfuscation is the tools of trade by politicians and certain ET posters.
I haven’t gone to the dispensary by my house yet but now I may startLol funny thread. But tax increases are coming. Prolly big with dems in charge. Why tf are futs green. At least I bought pot stocks today. Wish I had some
My man Clarence Beeks can help you out with that. Will give you my venmo and after I have your cash and consult with Mortimer and Randolph I can send you his contact info.
Here's a link to an interesting article detailing the proposals and a history of such proposals and their implementation around the world. Most impacted are HFT but their profitability has shrunk in the last decade anyway. Maybe we'll have some wider bid / ask spreads in the options.
https://taxfoundation.org/financial-transaction-tax/
https://taxfoundation.org/financial-transaction-tax/
