Quote from BPtrader:
Which retail trader in this world pays "six figures in taxes to uncle sam every year"? You must be a total idiot to do so. [/B]
Probably more than you think.
Oh it's not every year. It's every quarter, and ..............settled up once a year.
Paying taxes, ie writing out that check, is a painful notion for me. Far more so than slippage or commissions.
And........it helps pay for cops eating donuts, two aimless wars, and the old boy network of political favors. Despite construction bid letting, I still have to dodge 12 inch deep chuck holes when I drive. It's alot like being fined, and I'm not talking about $80 speeding tickets.
And all those freeloading towel heads out there, many can't even speak English getting hand outs. Food stamps, Section 8, ADC, etc. Helluva deal. Makes me seriously wonder about the Department of Immigration. Which is.........tax supported.
Losses are actually a tool to offset gains. Encourages a little risk-taking.
Being a total idiot to do so?????????????? Pssst, I've got gun to my head. 1099's go to the IRS. I don't have a choice. Apparently you do.
The adage "there are old traders, there are bold traders. and there are few that are both" has a lot of truth in it. Which camp do you fall into?
475 election. You don't even know what I'm referring to, do ya?
