Obama to eliminate 60/40 tax benefit for dealers

[Mnphats]

Quote from pismo10:

Another dumb move by Obama, another tax hike...It will get to traders as well very soon.

It will get to everyone.

 

[Landis82]

Quote from clacy:

That might be because the average age on ET is around 20.

And the level of reading comprehension is around 14.

 

[Dr. Zhivodka]

Oh geeze....For second there i thought you said that Obama was the best thing to happen to conservative causes since Coulter.

I was gonna reply ...wow someone who really thinks on his feet here.

Quote from pismo10:

Obama will be the best thing to happen to conservative causes since Carter.

 

[indexer]

I wonder if this is in response to Rick Santelli's rant?

Not a good idea to mix politics and business.

 

[listedguru]

Robert Green weigh's in here:

http://www.greencompany.com/blog/index.php

Let's hope they stop this witchhunt here real soon.

-Guru

 

[Trader KGB]

Quote from listedguru:
http://www.greencompany.com/blog/index.php

"The government’s first step could be to repeal 60/40 for everyone. Next, they could argue that a day trader has earned income on their trading gains too, thereby subjecting them to SE taxes as well (which are also headed up in the Obama initiatives). "

Good lord! Where will it end?

 

[Angrycat]

Quote from Trader KGB:


Good lord! Where will it end?

Obama is channeling FDR. He's implementing strategies that will cause the U.S. economy to continue to sink and stagnate because everyone feels so insecure right now.

After a while, there should be a backlash (as there was with FDR). If there isn't, we're in deep deep trouble.