Kamala wants a 0.2% transaction tax

[tommo]

In practice there would no difference You cannot be a day trader with either number.

As a trader from the U.K. nobody day trades stocks for this reason. Every prop firm is 90% futures traders.

People get around it trading CFDs but even those you can’t really scalp as you are paying a spread.

 

[KCalhoun]

Hey a random thought, maybe casinos could set up betting structure for some stocks for vig that's far less than ftt. That doesn't make trading gambling though. Actually might be a workaround if legal etc

 

[Arnie]

I think it's a mistake to look at this as if it will only apply to US exchanges. There is global effort afoot to make this an international FFT. Everyone knows that if you're the only country to pass an FFT, you're just laying out welcome mat for other countries to take your business.

https://www.google.com/search?rlz=1...hUKEwjOlMnspqDsAhWDlHIEHdCfDnoQ4dUDCA0&uact=5

 

[listedguru]

Ever try to trade options on exchanges outside the U.S. as an American? If you buy into the whole big bad gubmnt thing then you have to acknowledge that it's trivially easy for the U.S. government to restrict trading in offshore exchanges by U.S. citizens. Once you throw in something commonly used for tax evasion like bitcoin, it's not even that draconian to restrict it based on tax implications alone and you'd get a lot of Republican votes. Failure of imagination here, funny for those who are probably proudly thinking that everyone else lacks their foresight.

As I've said before, you're all forgetting that if the Democrats are in a position to pass a FTT then it will mean they control the Senate which would mean that Chuck Schumer is the majority leader. Say what you like about Schumer, but he's acutely aware of who butters his bread and they aren't going to let any significant changes to the financial system happen. So you basically can thank cronyism for it, but there's slim to none chance of this happening and slim just left town. You can now stop the hyperventilating and hyperbole and go back to living your lives which will be about as impacted by the next administration as they were by any of the past 5.

I agree with you on Schumer. Just can't see him all of the sudden flip flopping and supporting a ftt. Here is his stance on the ftt issue back in 2009:

Senator Chuck Schumer opposes the trader tax:

https://thereformedbroker.com/2009/09/15/senator-chuck-schumer-opposes-the-trader-tax/

 

[virtusa]

I think it's a mistake to look at this as if it will only apply to US exchanges. There is global effort afoot to make this an international FFT. Everyone knows that if you're the only country to pass an FFT, you're just laying out welcome mat for other countries to take your business.

https://www.google.com/search?rlz=1...hUKEwjOlMnspqDsAhWDlHIEHdCfDnoQ4dUDCA0&uact=5

In Europe they speak already 10 years of a FTT. But till today there are not enough countries who support this.
There were a few countries that tried it out and for most of them it was a failure. Instead of increasing the income from taxes, the income decreased. In some of these countries they abolished the tax quickly. If a tax is created, capital starts to move abroad.

The Middle East has to prepare for the "after oil period". They already put Aramco on the market to sell it expensive while income and demand for oil is going down. They need alternative business to generate income. Start a taxfree exchange would be a good idea. And it might solve the FTT problem.

 

[JSOP]

One does not identify their own race, the biology will identify their race.

Kamala is:
50% = Asian
25% = White
25% = Black

But she identifies herself as black because she knows the left can be manipulated by race, especially black.

Real blacks should realize that the left has been using the black race to further their political career. They should boycott these self-claimed blacks.


Joe Biden: 'If you like Trump, You Ain't Black'

It's so hypocritical that she only identifies with the 25% of her racial heritage ignoring 50% of herself just for political purposes and yet at the same time accuses others of racial discrimination. She herself is the biggest racist discriminating against the South Asian race/ethnic background just because South Asian is not politically powerful enough of a group. You teach others how you want to be treated. If she is acting like a racist herself...

 

[Sig]

It's so hypocritical that she only identifies with the 25% of her racial heritage ignoring 50% of herself just for political purposes and yet at the same time accuses others of racial discrimination. She herself is the biggest racist discriminating against the South Asian race/ethnic background just because South Asian is not politically powerful enough of a group. You teach others how you want to be treated. If she is acting like a racist herself...

WTF does this have to do with a FTT again?

 

[zdreg]

Just can't see him all of the sudden flip flopping and supporting a ftt.Here is his stance on the ftt issue back in 2009:

Yesterday or is it a few minutes ago is a long time ago for a politician and 2009 certainly has no relevance for today.

 

[SunTrader]

It's so hypocritical that she only identifies with the 25% of her racial heritage ignoring 50% of herself just for political purposes and yet at the same time accuses others of racial discrimination. She herself is the biggest racist discriminating against the South Asian race/ethnic background just because South Asian is not politically powerful enough of a group. You teach others how you want to be treated. If she is acting like a racist herself...

Race only exists at the track.

 

[murray t turtle]

It will not raise enough revenue to fund Medicare. Most projections are based upon that trader behavior will not change after imposition of a FTT...…….

%%
Sounds like a real low probability of US voters electing a tax+ spend CA climate kook.[Sarcasm=if some like to worry, talk radio found a glacier that has been melting since 1400ad/LOL]