Stock Tax May Reduce Volume 90%, Interactive Brokers CEO Says

Quote from tortoise:

At CME? Definitely.

NYSE/NASDAQ?

More like 50%
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I think it would totally obliterate stock trading at 0.25%. I'd be gone from the markets overnight and I can only assume many other traders would vanish instantly. The volume would plummet especially on stock transactions because they are being punished the most in DeFazio's bill in its current form.
 
I would be gone overnight as well.....


Quote from sprstpd:

I think it would totally obliterate stock trading at 0.25%. I'd be gone from the markets overnight and I can only assume many other traders would vanish instantly. The volume would plummet especially on stock transactions because they are being punished the most in DeFazio's bill in its current form.
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I would have went from making a great income last year to losing probably ten million dollars with this tax. Anyone who trades millions of shares each month would be obliterated.
 
It's populist kickback for all the graft that was allowed to happen. I think cooler heads will prevail, but there will be some other onerous thing rear its ugly head.

They never think of the consequences, just how it plays in Peoria.
 
Quote from kxvid:

If it passes I wont know wether to laugh or cry. Congress should make a law against making new laws.
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OMFG laughing my ass off :D

brilliant :D
 
DeFazio’s proposal would put a tax of 0.25 percent on stock transactions and 0.02 percent on derivatives including futures, options, swaps and credit-default swaps.
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not fair to stock traders. those WMD derivatives shold be taxed more than plain common stocks.

The bill’s sponsors have “no understanding whatsoever” about its likely effect, Peterffy said.
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that's for sure.
 
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