Kamala wants a 0.2% transaction tax

virtusa said:
It is an international disease. All politicians all over the world are infected by this disease.
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Oh I know it. On the campaign trail, it is always "For the people, for the people, for the people."

Once elected into office, it's always "For me, for me, for me. For what I believe, and screw the people."

This is EXACTLY why we have the stalemate on Capitol Hill on stimulus. People went right out the window, and in came personal ego trips. Shameful.
 
Overnight said:
Does someone here have an actual line from the tax bill she proposes that describes in detail what the new rule would be? All I read is speculation and supposition.
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https://taxfoundation.org/new-york-stock-exchange-nyse-new-jersey-financial-transaction-tax/

"
If implemented, New Jersey’s financial transaction tax would be a flat-rate tax imposed per instrument, not per trade, meaning that a purchase of 1,000 shares would generate $2.50 in taxes. As we have noted previously, this rate may seem small, but it would quickly pyramid as the same instrument is traded—and therefore taxed—multiple times.

Because the tax is imposed per transaction, the effective rate would be much higher on stocks that trade at lower prices—largely, though not invariably, associated with small and midcap stocks. The effective rate on the sale of a Berkshire Hathaway Class A share ($328,430 when markets opened on September 14th) would be 0.00000076 percent, while the rate on the sale of a share in Sirius FM ($5.51 at the opening bell) would be nearly 60,000 times higher at 0.045 percent."

https://taxfoundation.org/financial-transaction-tax/

Watch the "Table of contents"
 
Overnight said:
I guess you really are not a US citizen then. If you were, you would know that you would not be "forced" to vote for anyone. Nobody puts a gun to your head and says, "If you do not vote for one, then you must vote for the other." Especially if you are a Republican but do not want to vote for Trump, and decide to vote for Biden instead. That's betraying your party.
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Chumpie already did that as well as betraying the country. So voting for HIM is yet another betrayal. Fack the party - either one.
 
virtusa said:
https://taxfoundation.org/new-york-stock-exchange-nyse-new-jersey-financial-transaction-tax/

"
If implemented, New Jersey’s financial transaction tax would be a flat-rate tax imposed per instrument, not per trade, meaning that a purchase of 1,000 shares would generate $2.50 in taxes. As we have noted previously, this rate may seem small, but it would quickly pyramid as the same instrument is traded—and therefore taxed—multiple times.

Because the tax is imposed per transaction, the effective rate would be much higher on stocks that trade at lower prices—largely, though not invariably, associated with small and midcap stocks. The effective rate on the sale of a Berkshire Hathaway Class A share ($328,430 when markets opened on September 14th) would be 0.00000076 percent, while the rate on the sale of a share in Sirius FM ($5.51 at the opening bell) would be nearly 60,000 times higher at 0.045 percent."

https://taxfoundation.org/financial-transaction-tax/

Watch the "Table of contents"
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That has nothing to do with Kamala Harris's proposed transaction tax. That is a state-level thing that would not affect the CME, so your future trades are safe.
 
Overnight said:
That has nothing to do with Kamala Harris's proposed transaction tax. That is a state-level thing that would not affect the CME, so your future trades are safe.
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Most articles that I find are about 0.2% for stocks, and 0.02% for futures. In EU these numbers are mentioned most of the time too.
 
So let's say I do 10 roundtrips in a day of 100 shares of a $30 stock.

What's the total ftt? $120?

10 x 100 x 2 x $30 = $60000 x .002 = $120 if I got it right
 
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