Kamala wants a 0.2% transaction tax

lindq said:
Evidently you are too young to recall the devastation of the economy in 2008. Whatever your politics, the fact is that Obama/Biden put together a team that cut unemployment in half and put us on an upward trajectory.

So to infer that the "left" will shut down the economy is simply a stupid statement.
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What did he do as a guy from the left to cut unemployment in half? Lowered corporate taxes? How is the "left" different from the "right" as far as economy is concerned in your view? If Obama was a typical "left" guy during a crisis.
 
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lvca said:
Even if I don't support this tax, I can see that with a critical eye.

That would mean more investment and less speculation. More holding and less scalping. HFT would be dead, and day traders as well. It would be different, but there will be tons of opportunities as well.

And after all, how many day traders are full-time traders? The impact would be 0.001% of the US population.
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Less self-employed people and less govt revenues and less efficient markets. Will the market makers be taxed as well? Will it be on top of capital gains tax?
 
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lvca said:
Even if I don't support this tax, I can see that with a critical eye.

That would mean more investment and less speculation. More holding and less scalping. HFT would be dead, and day traders as well. It would be different, but there will be tons of opportunities as well.

And after all, how many day traders are full-time traders? The impact would be 0.001% of the US population.
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Xir, I think you are a little short sighted. It will be like a domino effect, a chain reaction.
You have to think steps further.

Any tax which is imposed upon you before you even make money is a bad tax. Maybe there are a few exceptions, but generally, they are bad. One should be taxed only after he has made some money.
 
A FTT will be widely popular. Even moderate Michael Bloomberg supported a FTT. With increasing focus on inequality, a FTT is an obvious place to start. It will happen, only a matter of time.
 
Eafetrader said:
A FTT will be widely popular. Even moderate Michael Bloomberg supported a FTT. With increasing focus on inequality, a FTT is an obvious place to start. It will happen, only a matter of time.
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will be popular among the left wingers. They have always been turkeys voting for Christmas. They will cheer those “evil speculators” getting a beating. Yet when the golden goose of tax revenue that is Wall Street moves offshore and costs on commodities and savings go up they will feel the pain. Not that they will ever learn.
 
It's too easy a target to pass up for Democrats, their parasitic tax-grubbing ftt is a very real threat.

Impact on futures and forex too, or stocks/etfs only?
 
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