Mark Cuban pushes for 20 cents per share tax on every roundtrip.
- Thread starter seasideheights
- Start date
Not exactly, though. Most traders are limited by the capital loss limit on how much loss they can claim. I have to imagine a big percentage of the losers in this trading game are big losers, which means that loss is going to take a *long* time to show up. The transaction tax will be immediate revenue, the loss will only be allowed to be taken at a point in the far future. Present dollars are worth more than future dollars, plus our government needs money now, they're not going to be worrying as much about losses being deducted years down the road (they'll have plenty of time to pass more taxes to screw over someone else before that happens :eek: ).
It's which side of the fence you're sitting mr. supertrader (at least according to *archie*).
Notice the key point of my paragraph being the "adding value to society part". Not the question of it being done, as that baby is already out the door.
You guys (you and your boyfriend, *archie*) obviously didn't take reading comprehension ... guess it isn't required to make money, LOL.
Who cares, this stuff is never going to happen.
Anyone with half a brain knows the day this passed you would have the biggest crash in market history as every security goes no bid and every valuation model is totally wrong.
Cuban isn't dumb...this is just grand standing because he probly wants to run for office someday.
Anyone with half a brain knows the day this passed you would have the biggest crash in market history as every security goes no bid and every valuation model is totally wrong.
Cuban isn't dumb...this is just grand standing because he probly wants to run for office someday.
They did it in England.
The tax protects inefficiency.....
The brokerages in Europe and Asia do not want to give up the commission collusive spread business.....just review the US court cases....
This tax is going to disappear once companies like BATS get into the picture....in both Europe and Asia...
It was very difficult for the US brokerages to give it up...they fought against efficiency and lost ...in the US....
Efficiency will win at the end of the day....
The choice is clear.....
When the public of Europe and China have a choice to pay $100 for a transaction which includes a tax, collusive bid/ask by broker.....or 10 cents.......
Gee....let me guess what will happen.....
Just a matter of time......and just a little bit of internet eduction to Europeans and Asians....
This is not rocket science....
To bet that Europeans and Asian would rather pay $100 when they could easily be paying 10 cents with just a signature on a piece of paper....would be like betting that phones with wire attachments are easier to deal with than phones without wires....
Not to mention the billions to be saved by the European and Asian retirement plans in transaction and spread costs.....
All the public needs.... IS TO KNOW....
And the catalyst will be BATS...or a company like them.....
The US is ahead of the curve.....Europe and Asia are behind the curve.....but will catch up fast....
Money is dear to the Chinese......They would burn a politician at the stake if they did not allow 10 cents versus a $100.....
The problem in the US is political design....People with a political podium can enact laws about a subject matter they know nothing about....For this very reason the system is deeply flawed....
I doubt Cuban or anyone in his family has ever bought a stock.....Stocks are those things run by crooks in New York.....
The brokerages in Europe and Asia do not want to give up the commission collusive spread business.....just review the US court cases....
This tax is going to disappear once companies like BATS get into the picture....in both Europe and Asia...
It was very difficult for the US brokerages to give it up...they fought against efficiency and lost ...in the US....
Efficiency will win at the end of the day....
The choice is clear.....
When the public of Europe and China have a choice to pay $100 for a transaction which includes a tax, collusive bid/ask by broker.....or 10 cents.......
Gee....let me guess what will happen.....
Just a matter of time......and just a little bit of internet eduction to Europeans and Asians....
This is not rocket science....
To bet that Europeans and Asian would rather pay $100 when they could easily be paying 10 cents with just a signature on a piece of paper....would be like betting that phones with wire attachments are easier to deal with than phones without wires....
Not to mention the billions to be saved by the European and Asian retirement plans in transaction and spread costs.....
All the public needs.... IS TO KNOW....
And the catalyst will be BATS...or a company like them.....
The US is ahead of the curve.....Europe and Asia are behind the curve.....but will catch up fast....
Money is dear to the Chinese......They would burn a politician at the stake if they did not allow 10 cents versus a $100.....
The problem in the US is political design....People with a political podium can enact laws about a subject matter they know nothing about....For this very reason the system is deeply flawed....
I doubt Cuban or anyone in his family has ever bought a stock.....Stocks are those things run by crooks in New York.....