Kamala wants a 0.2% transaction tax

[Sig]

Regardless of who wins, this will never pass either congress or senate and will likely never come up at all. Even disregarding the Wall Street lobby (which is huge), the stock market is a political utility by now. No politician would fuck with it.

Couldn't agree more. If you need to work yourself apoplectic about the VP candidate's position on something back when they were campaigning for their party's nomination that has little or no chance of passing anyway..... it says a lot about how many legitimate things you have to criticize about the other side.

 

[newwurldmn]

Most "edges" that exist, btwn asset classes, indexes, or in sectors, only exist for a short period of time,... rarely for longer than very next trading day.

The more leftist Dems (Sanders, Warren, AOC) want to punish ST trading....seeing it as pulling money from thin air, at the expense of long term investors. (Flawed thinking...in reality ST trading increases liquidity and enhances mkt efficiency).

only if you are a price maker. If you are a price taker, you are taking liquidity.

I think most traders on this site are trend followers, making them price takers. They reduce liquidity.

 

[zdreg]

Couldn't agree more. If you need to work yourself apoplectic about the VP candidate's position on something back when they were campaigning for their party's nomination that has little or no chance of passing anyway..... it says a lot about how many legitimate things you have to criticize about the other side.

Famous last words. by Sig.
This proposal is never dead. "Legislate in haste repent in leisure."
Watch carefully.

 

[Eafetrader]

Famous last words. by Sig.
This proposal is never dead. "Legislate in haste repent in leisure."
Watch carefully.

Agree zdreg, Wall St is too fat a target for Dems to pass up. A FTT will be key way to fund Medicare for All.

 

[zdreg]

A FTT will be key way to fund Medicare for All.

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. An FTT will eliminate retail day traders and HFT traders.

 

[Eafetrader]

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. An FTT will eliminate retail day traders and HFT traders.

 

[tommo]

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. An FTT will eliminate retail day traders and HFT traders.

Politicians (left leaning ones in particular) don’t worry about little things like reality. By the time they figure out the tax wipes out day traders and with it most of the retail brokers we use (and the tax revenue it generates) and try and reverse it. It will be too late.

 

[Eafetrader]

Agree. As a result of a FTT, the mkt will see a profound change (for the worse).

Need to monitor articles and media going forward for next mention of FTT...from either Biden or Harris. Since her nomination, there has been no focus on a FTT.

Wall Street is in denial as to the reality of that possibility.

 

[KCalhoun]

Democrats will KILL daytrading with their fucking ftt.... I'm voting Republican

 

[zdreg]

If Mike Bloomberg, who should know better the ill effects of FTT , suggested an FTT the lemmings in a Democratic Congress and a Biden presidency will surely follow.