Mark Cuban pushes for 20 cents per share tax on every roundtrip.

[Avid_Consumer]

Quote from MandelbrotSet:

Nothing you are saying here actually means anything.

It's just another way for politicians to take money from people and line their pockets with it.

ditto. elaborate or share the sentiment

i'm arguing that there may be societal value to this policy, given how abstracted the financial economy has become from a real price discovery mechanism for real assets.

does trading for trading's sake have marginally declining value or even negative value to the real economy? once the financial economy consists mostly of leveraged trading for trading's sake, maybe it does. ...leveraged scalpers, CDS gamers, etc

the further you are from the real economy, the more you have to worry about imo

 

[MandelbrotSet]

Quote from Avid_Consumer:

i don't mind the criticism, but really .. you need to step outside your assumptions.

you're thinking as a free agent with no stake in the survival of the whole.

i don't' mind criticizing you, but really ... you need to act like you have some type of intelligence.

It's obvious that this is a captialist system.

It's obvious that in a capitalist system, people only operate in their self-interest, and the theory goes that the greater good will be fullfilled by this personal self-interst.

It is obvious that that is not the case here, but rather the few have benefited first and foremost by bankrupting their companies, at which point they went to the government with their handout (through their intermediaries) and now to add insult to injury we are being told that we have to pay the price for their excess.

Lastly, it's also pretty obvious that you can't trade.
***
I see that you're looking for trading to bring some type of "societal value" agenda to the table. I can't but speak to you as if you are brain-dead, becuse you act like it.

If you think for one minute these financial insitutions were concerned with "societal value" they would not have made the bad loans and taken the wrong-headed decisions that they did to put us in this situation in the first place.

If you really do have a socialist agenda, you're in the wrong country. This one will pretend to cater to your fantasy agenda and spit you out like the naivete you are.

"Social Value" ... LMAO.

 

[toc]

If this can be fine tuned a little then transaction taxes might be good earners for the budget deficit government. The QQQQ average volume is 225M shares a day, this mean from Cubes alone government can earn $45M a day. Say going price of Qs is $30, this means less than 1% tax on each transaction. However, it would really bite for smaller priced shares, so anything under $5 is ending up paying roughly 5% tax each time which is really regressive for the economic growth and stock exchange trading.

 

[MandelbrotSet]

Quote from toc:

If this can be fine tuned a little then transaction taxes might be good earners for the budget deficit government. The QQQQ average volume is 225M shares a day, this mean from Cubes alone government can earn $45M a day. Say going price of Qs is $30, this means less than 1% tax on each transaction. However, it would really bite for smaller priced shares, so anything under $5 is ending up paying roughly 5% tax each time which is really regressive for the economic growth and stock exchange trading.

Great

So now they can take that money and put it in their pockets too.

We already pay a tax ... it's called income tax (that's assuming one is profitable) ... is there still a transaction tax for the losers (like you guys who are championing this idiocy on a trading board)?

 

[bears21]

Quote from MandelbrotSet:

Great

So now they can take that money and put it in their pockets too.

We already pay a tax ... it's called income tax (that's assuming one is profitable) ... is there still a transaction tax for the losers (like you guys who are championing this idiocy on a trading board)?

im in the wrong country hey mandlebrot do these people realize that this is coming out of our pockets, why not stick a gun in someones face and demand cash, same thing.

please stop analyzing if the qqqqs trade this and xyz trades that those volumes that you see today would become phantom volumes if this tax is passed, why cant people see this and how did this country become so gullible.

thinking outside the box is not gonna kill us is it, or would we rather have someone holding us by our wee wee telling us how its gonna go. we as a country has to grow a sack and say enough is enough tax is a liability not an asset remember that people

 

[toc]

Just one percent increase in taxes is not even going to be noticed. If it hurts, it will hurt the speculators who usually create bubbles and taking very high risks. Average position trader and even swing trader will not even feel the pinch.

The problem will be if the bastard politicians start to raise taxes on things and then go around mismanaging these funds rather than finding ways to channel them back to people in form investments into new jobs and paying off toxic debt levels and other nonsense that has built up in the last 30 years.

 

[piggie2000]

toc your statment is only correct in a non volatile mkt. lets say you're swing trading with 300k positions. each buy and sell of that 300k at a .5% transaction tax is $1500. so lets say in a mkt like this you get stopped out 10 times in a a month . Thats 30k of taxes on 10 r/t's. its a huge deal. What about the huge decline in returns for 50 million mutal fund holders? Plus with such a huge tax it will cause returns to fall as one will hesitiate to take stop loses as the tax is so high.India and chinia down 50-60% says a transaction tax doesn't stop volatility.

 

[MandelbrotSet]

Quote from bears21:

im in the wrong country hey mandlebrot do these people realize that this is coming out of our pockets, why not stick a gun in someones face and demand cash, same thing.

I don't know what to say man.

It's like these people don't realize just how thorughly they've been screwed over for the banks to have gotten themselves in this situation in the first place (they should never have been allowed to get into this situation in the first place, your, excuse me, our government dollars at work).

Now the want to screw the american populace again by levying even more taxes on those people who are smart enough to create income for themselves (which is what you are supposed to do in a capitalist system - uh, hello!).

Well if these guys are any measurement of the sophistical level of the average american taxpayer, we are well and truly screwed.

 

[weld1]

its hard to imagine an adult with any knowledge of markets would ever consider something like this much less say it out loud!!!!! amazing.........

 

[MandelbrotSet]

Quote from toc:

Just one percent increase in taxes is not even going to be noticed. If it hurts, it will hurt the speculators who usually create bubbles and taking very high risks. Average position trader and even swing trader will not even feel the pinch.

You're making a judgement call their toc, belive me. They won't differentiate your type of trading from mine.

Quote from toc:

The problem will be if the bastard politicians start to raise taxes on things and then go around mismanaging these funds rather than finding ways to channel them back to people in form investments into new jobs and paying off toxic debt levels and other nonsense that has built up in the last 30 years.

Count on it ...