Rich people screwed. Free college ,$500 a week unemployment for the next 9 months .

[freeman311122]

I was answering the question as to the apparent discrepancy in the CBO math which was really just them doing their best to accurately model the reality that taxes always impact the market they are imposed on. Nothing to do with if FTT is good or bad. I for one wouldn't cry if HFT went away, but think FTT is a bad idea because of implementation issues.

If HFT is gone, the brokerage companies will have no place to sell order flow to, and the free commission will be gone too. FTT is indeed a bad idea because it will ultimately suppress trading activities, reduce liquidity dramatically and it may reduce overall revenue.

The topic of FTT was not very popular during the primary last year.

 

[Sig]

If HFT is gone, the brokerage companies will have no place to sell order flow to, and the free commission will be gone too. FTT is indeed a bad idea because it will ultimately suppress trading activities, reduce liquidity dramatically and it may reduce overall revenue.

The topic of FTT was not very popular during the primary last year.

I don't use a broker who sells order flow anyway and don't care if those who do all go back to charging a commission. Why should I or anyone else really? The whole thing is a market distortion we're all better off without, including those getting "free" commission.

 

[freeman311122]

I don't use a broker who sells order flow anyway and don't care if those who do all go back to charging a commission. Why should I or anyone else really? The whole thing is a market distortion we're all better off without, including those getting "free" commission.

Very interesting, I am so sorry I didn’t know this topic was about you. I will let you talk about yourself.

 

[Vindago]

well, if it really is on the transaction than the only way to make a profit would be by making at least more than 0.5% of the invested capital per trade and have only profitable trades

 

[KCalhoun]

Can someone do the math? If I do 10 roundtrip daytrades of just 200 shares of a $30 stock, with .2% ftt what's the total tax?

Btw boo on parasitic fckhg dems and their damn leech taxes

 

[Sig]

Very interesting, I am so sorry I didn’t know this topic was about you. I will let you talk about yourself.

That was a pretty unnecessarily asshole level reply there, is that really how you interact with people in day to day life? Why, exactly, did you feel the need to take that tone and what did you hope to accomplish? Sorry if you're having a rough day/week/month, but being a dick for absolutely no reason won't make it any better.

 

[piezoe]

Bezo’s and company will have 1/2 their wealth taken. Transaction tax 100% coming . Days of traders sitting in their undy’s pressing buttons all day coming to and end.

This is not Wall Street News. It's unsupported personal opinion. It belongs in either Chit Chat or Politics.

 

[freeman311122]

That was a pretty unnecessarily asshole level reply there, is that really how you interact with people in day to day life? Why, exactly, did you feel the need to take that tone and what did you hope to accomplish? Sorry if you're having a rough day/week/month, but being a dick for absolutely no reason won't make it any better.

Trying to find asshole? look no further other than your mirror! You are being the dick! I was talking in general and you were the one talking about the impact on yourself. I am glad there is a function called ignore.

 

[Sig]

Trying to find asshole? look no further other than your mirror! You are being the dick! I was talking in general and you were the one talking about the impact on yourself. I am glad there is a function called ignore.

Again, what are you hoping to accomplish by this tone? And is this really the way you talk to people in day to day life (I hope for your sake it isn't!)?

Take a deep breath and go read my post again, then decide if my pointing out that "free" commissions going away wasn't a bad thing for anyone rose to the level of your response to me. Hint, it didn't and yes, you're being an asshole here again for no reason and to no end. The only question, especially since you seem to have discovered the ignore function exists, is why?

 

[JSOP]

The biggest concern of ftt is not really the profitability of a trader per se. What the tax concerns most is the health or even existence of an entire financial industry, its volume, its activities and etc. The majority of the trading volume on a daily basis is now generated from HFT upwards to 73% of it and if HFT won't be able to survive if ftt is implemented then the entire financial market is GONE!! It's not a question of how much less profit you will make, it's you won't be able to make money at all!! There would be no volume, no movement, no volatility, no liquidity, the bid/ask spread several 10's of cents apart even dollars apart, the market will be DEAD!! Imagine the price not moving at all from one day to another or moving very little and slippages in the amount of several dollars and forget about stop-losses you might as well wait for margin calls cuz there won't be any difference. And technical analysis will be meaningless cuz it would be so skewed and there would be so many whiplashes that there won't be any trends.

This is very likely the scenario if ftt is implemented. And moving trading into derivatives won't help because without the underlying moving, derivatives would essentially become the new underlying and if there is no movement in underlyings, there won't be any movement in the derivatives either.

If this is something that you like to see, then by all means rejoice but if not, then you know what to do. It's time you contact your Congressman/woman, Republican or Democrats to let them know your thoughts.