Here's CME's response to this proposed bill:
http://www.grainnet.com/articles/CM...cy_and_Accountability_Act_of_2009_-70835.html
http://www.grainnet.com/articles/CM...cy_and_Accountability_Act_of_2009_-70835.html
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Kiss Your Job GoodBye
- Thread starter cstfx
- Start date
Hmmmm...it appears the donations that hedge funds and others gave to Obama and the democrats were in fact, a bad investment.
Quote from listedguru:
I agree that the cap gains increase is a foregone conclusion. But the transaction tax isn't going to happen...
-Guru
It always amazes me when someone makes such a definite statement as you have just made. Especially when we all know you have literally no basis for having made it.
Here's what we know: the government has just spent, or is in the process of spending, trillions of dollars. That's trillions with a T. That expenditure is in fact going to be paid for by higher taxes...that you can count on.
Now, what form will this higher tax take? None of us, including you, knows. But one thing for sure is that the idea of a transaction tax will naturally arise, because it is a tax that can be levied on an unpopular constituency. You think there will be a hue and cry against this tax from the public?
Rather than to assure us all that this tax will never happen, I suggest to you that we all better be vigilant, and proactive in fighting any suggestion of this tax. The danger is that we all sit back, content in the knowledge that you have assurred us this will never happen, until one day it appears attached to a bill, and IS passed. Don't let complacency arise through ill-founded assurances that "no way there will ever be a transaction tax".