Kamala wants a 0.2% transaction tax

Kamala say NO Transaction Tax!

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zdreg said:
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.
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That is about the correct viewpoint. Make sure your population is subjected and has no way out of the system. FTT targeting will be enforced to the fullest extent on the plebeian masses ...

Akuma
FX or bust... expatriate the G1
 
tommo said:
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.
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Old saying: "legislate in haste. Repent at leisure."
 
tommo said:
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.
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Curious given what you're saying, what was/is impact on liquidity if there are no 'daytraders'? and any other interesting impacts on market structure?
 
No HFT would vastly increase visible size. HFT gone, dark liquidity gone and other small traffic diminished. Many people would view that as a huge uptick. There will be winners and losers. Any wonder why it's alleged Biden got more dollars from Wallstreet than Trump.
 
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