Wrong. They aren't proposing a 1/4% of the commission tax, it's 1/4% of the value of the TRADE! You buy 2000 shares of a $50 stock and it's 1/4% of $100K. Or a nice little $500 + commission for a round trip.
this proposal should morph into a tax on shorts, and then you would get a reinflation of the market, as we could only scalp effectively from the long side
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.
And that is why Chuck Schumer ( Senate Finance and Senate Banking Committee ), Larry Summers, Michael Bloomberg, David Paterson, and Hillary Clinton will never allow this to happen.
It would kill the NY metropolitan area.
And that is why Chuck Schumer ( Senate Finance and Senate Banking Committee ), Larry Summers, Michael Bloomberg, David Paterson, and Hillary Clinton will never allow this to happen.
It would kill the NY metropolitan area.
