If Biden wins, is a Stock Transaction Tax likely?

[murray t turtle]

Highly unlikely. Once the lobbyists step in expect that the most they'll do is get the top rate back to 39.6% again and maybe raise the corporate tax rate to 25%. That's if they can take control of the Senate.

%%
Highly unlikely/exactly.
Senator Biden has twice this year asked for people to vote for him as US Senator/LOL.
Even more unlikely is a big DEM victory anywhere;Portand riots make that very unlikely for anybody with common sense.
Dave Ramsey said change the [DEM] govs of CA, NY, for the same reason you change diapers/LOL...……………………………………………………………………………….

 

[Turveyd]

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.

Thanks, likely won't affect me, but if it does I can live with a 50% increase in my costs.

 

[JSOP]

Wall Street donated 5 times as much to Biden as they did to Trump. a) They expect Biden to remember that, and b) they don't seriously think that Biden would put their business in Jeopardy.

https://www.cnn.com/2020/09/25/business/trump-biden-wall-street-campaign-donations/index.html

yeah but he won't and besides it's not Biden who's in charge. It's the Harris b**** who is cracking the whip. She is SPEAKING!!

 

[longandshort]

AFAIK, Dem Sweep = higher real rates + improving inflation. Overlay that on components of GDP and there are you trading ideas.

 

[SunTrader]

AFAIK, Dem Sweep = higher real rates + improving inflation. Overlay that on components of GDP and there are you trading ideas.

Nah why do that - trading ideas - gets in the way of bitching.

 

[KCalhoun]

If Biden Kamala Pelosi get in power then we are truly fucked. #hightaxes

 

[Sig]

yeah but he won't and besides it's not Biden who's in charge. It's the Harris b**** who is cracking the whip. She is SPEAKING!!

What is compelling you to refer to Senator Harris as a b**** every time you refer to her? I get it, you don't like her, but why diminish yourself (my formerly high opinion of you took a nosedive with this) with gratuitous disrespect of another person? What exactly do you accomplish with that?

 

[Sig]

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

"Guaranteed" is it? You all need to chill out a little, your panic isn't helping you think clearly. If the Senate is controlled by the democrats, it means Chuck Schumer is most likely Senate majority leader. Senator Schumer is the senator from New York, he's bought and paid for by the financial industry and has never shown any indication that he forgets who pays his way. There are more than a couple other senators in the same position. The FTT is unlikely to ever make it to a full Senate vote, let alone become law. Now take a deep breath, remember that we all did just fine as traders under 8 years of Obama and if you are old enough 8 years of Clinton despite all the breathless panic like this you same people worked yourselves into when they were elected.

 

[newwurldmn]

"Guaranteed" is it? You all need to chill out a little, your panic isn't helping you think clearly. If the Senate is controlled by the democrats, it means Chuck Schumer is most likely Senate majority leader. Senator Schumer is the senator from New York, he's bought and paid for by the financial industry and has never shown any indication that he forgets who pays his way. There are more than a couple other senators in the same position. The FTT is unlikely to ever make it to a full Senate vote, let alone become law. Now take a deep breath, remember that we all did just fine as traders under 8 years of Obama and if you are old enough 8 years of Clinton despite all the breathless panic like this you same people worked yourselves into when they were elected.

But, but, but this time.... AOC!

 

[SunTrader]

... then we are truly fucked...

Guess you really haven't been following things too closely the last 4 years?