If the "Trading Tax" is Passed

Quote from slapshot:

I agree. And right now, with IRA's + 401K's so beaten up, any political attempt to tax the stock market further would be VERY unpopular.

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I'm not so sure. Look at how popular it seems in the comments in the NYT article. Plus when I posted it on another trading site no one seemed to give a shit.
 
Quote from Rex84:

I am in favor of a trading tax. They should make it $.05 a trade. a percentage tax is a huge mistake.
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Any tax is a huge mistake. Are you serious? Why are you in favor of this? How about we come to your business and start taxing the crap out of it?
 
Quote from ang_99:

If this thing gets even the least bit of traction..

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She's not puking. It's back door access.
 
Quote from Bot_Pimp:

Any tax is a huge mistake. Are you serious?
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Absolutely serious. If they had taxed 20% on Credit Default Swap notable value, the investment banks would not have taken so much leverage and they won't have collapsed and the tax payers will not be on the hook for $8 Trillion.

If they had additional tax of $1 on gasoline, the blow off top on the oil speculative run up would have been over much sooner as the consumer realized the games being played and demanded action from an administration zealous on deregulation on Enron and oil and gas.
 
Quote from tmarket:

Absolutely serious. If they had taxed 20% on Credit Default Swap notable value, the investment banks would not have taken so much leverage and they won't have collapsed and the tax payers will not be on the hook for $8 Trillion.

If they had additional tax of $1 on gasoline, the blow off top on the oil speculative run up would have been over much sooner as the consumer realized the games being played and demanded action from an administration zealous on deregulation on Enron and oil and gas.
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Uhhh, can I ask why you are here? :confused:
 
Quote from Bot_Pimp:

Any tax is a huge mistake. Are you serious? Why are you in favor of this? How about we come to your business and start taxing the crap out of it?
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I pay $8 a trade, what is the big deal if I pay $8.05 a trade? It isn't taxing the "crap" out of my or anyone else's trading account. It would raise some nice revenues for the gov. and it wouldn't hurt me or anyone. A tax of 1/4% would kill day traders who normally ony mike a sixteenth of a point a trade.
 
Quote from Rex84:

I pay $8 a trade, what is the big deal if I pay $8.05 a trade? It isn't taxing the "crap" out of my or anyone else's trading account. It would raise some nice revenues for the gov. and it wouldn't hurt me or anyone. A tax of 1/4% would kill day traders who normally ony mike a sixteenth of a point a trade.
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well I pay nothing close to 8 dollars a trade and I make numerous trades a day, many of them automated. So in the end it adds up for my strategy. I'm just a little guy trying to make an honest buck, not some 29 year old asshole trading House Billions in the CDS market.

I respect your setup at 8 dollars a trade to whack around in your Swing account, but I am already paying taxes and SEC fees in each of my trades. And beleive me, they add up!
 
Quote from Klamath:

I'm not so sure. Look at how popular it seems in the comments in the NYT article. Plus when I posted it on another trading site no one seemed to give a shit.
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Well, the NYT is the most liberal, absurd, politicized rag in the mainstream press. Of course those tree-hugging granola whacks are for anything anti-business.
 
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