If Biden wins, is a Stock Transaction Tax likely?

[gkishot]

Not sure what you mean but yes US stocks are the most traded in the world, and not every other international stock market has a FTT.

I mean there is no need to pay ftt on US stocks. https://the-international-investor.com/investment-faq/paying-uk-tax-foreign-shares

 

[Turveyd]

Based on some of your recent posts what you are smoking lately? A democratic congress and a
democratic president is something to fear. Biden by himself cannot ruin the country. He needs a compliant congress.

Obama didn't have a Compliant congress, but times have changed, we are in scared easily manipulated Covid world these days, there not doing all this damage for nothing and it's never to save lives, which there not even doing.

 

[MarkBrown]

sorry for the selloff boys i read here about the tax increase so i started liquidating my positions and will continue until election results so expect the market to stay down till then.

i might get back in just depends on the sentiment in this thread.

 

[wiesman02]

FTT guaranteed with a biden win and house and senate democrat. I've already started transitioning my system away from scalping in preparation.

 

[KCalhoun]

No trader with common sense would vote for Democrats and horrible ftt.

 

[MarkBrown]

No trader with common sense would vote for Democrats and horrible ftt.

but seriously most traders and most et members are hard core dems.

 

[movingaverage]

So what does this mean for me...i just started making money on futures contracts trading... My account is 10k and i live in ny

 

[zdreg]

So what does this mean for me...i just started making money on futures contracts trading... My account is 10k and i live in ny

It means nothing till it happens or the odds of it happening increases substantially. Wait for election results. Pray that in this situation yogi berra is right: "it ain't over till it is over."

 

[DevBru]

FX Spot account so I'm all good, until they change there legislation again, the 20:1 margin in the UK nearly killed me off, 2 years ago.

My Average Scalp is 8pts on NQ, 1pt spread so 12.5% cost per trade, 0.4% ontop wouldn't bother me.

A financial transaction tax of 0.002% on futures (0.2% would be on stocks) roughly equals to 0.5 points in NQ profits.
So your costs would go up by 50%, it wouldn't be 12.9% total costs for you, but more like 18.75%.

Also, the financial transaction tax need to be paid on every transaction, profit or loss doesn't matter.

 

[zdreg]

A financial transaction tax of 0.002% on futures (0.2% would be on stocks) roughly equals to 0.5 points in NQ profits.
So your costs would go up by 50%, it wouldn't be 12.9% total costs for you, but more like 18.75%.

Also, the financial transaction tax need to be paid on every transaction, profit or loss doesn't matter.

Do the same for stocks.
The results will shock people.