Tax on Trades Should Be Part of Rescue Plan, Some Democrats Say
- Thread starter seasideheights
- Start date
Perhaps that's why the dems were so desperate to have republicans on board. If they were to go it alone, the dems might lose seats. Of course, the dems knew the republicans would lose seats if they were on board. Now that they think they have a bill, it will be interesting to see how it plays out. Who was for, and who was against? That's what I want to see.
I hope the republicans that agreed assured there would be less idiocy in the bill.
We need to contact Ameritrade, Scottrade, Etrade, and Schwab.
These are brokers that have large quantities of average income "common" people with small brokerage accounts. That is who the democrats who proposed this idea must see to understand why this tax shouldn't be implemented & who will get hurt by it.
If you have an account at any of those brokers, please call the help lines or email them with the URL to the story in the first post of this thread.
A combined letter from all of them would be powerful. Imagine how many millions they represent.
Remember too that a brokerage account may represent a family & not just an individual as well. A family may have a budget that puts a certain percentage of their income in a brokerage account. That multiplies the amount of people effected by this tax over the amount of accounts that exist.
These are brokers that have large quantities of average income "common" people with small brokerage accounts. That is who the democrats who proposed this idea must see to understand why this tax shouldn't be implemented & who will get hurt by it.
If you have an account at any of those brokers, please call the help lines or email them with the URL to the story in the first post of this thread.
A combined letter from all of them would be powerful. Imagine how many millions they represent.
Remember too that a brokerage account may represent a family & not just an individual as well. A family may have a budget that puts a certain percentage of their income in a brokerage account. That multiplies the amount of people effected by this tax over the amount of accounts that exist.
Don't forget to contact STA.
http://www.securitytraders.org/
Mission Statement
The Security Traders Association is committed to promoting the interests of our members throughout the global financial markets, providing representation of these interests in the legislative, regulatory and technological processes, while fostering goodwill and high standards of integrity in accord with the Associationâs founding principle, Dictum Meum Pactum â " My word is my bond ".
http://www.securitytraders.org/
Mission Statement
The Security Traders Association is committed to promoting the interests of our members throughout the global financial markets, providing representation of these interests in the legislative, regulatory and technological processes, while fostering goodwill and high standards of integrity in accord with the Associationâs founding principle, Dictum Meum Pactum â " My word is my bond ".
shut-up you moronic douche... maybe you'd like to go back to phoning in your orders (from the YMCA) and waiting an hour or so for the call-back confirmation? or maybe a call back whenever - and you obviously never tired of taking it in the ass on fills? go to the library and look at the stock quotes from your dream decades... you're confusing a decade long uptrend in the 1990s with an orderly market. learn to play both sides of the market- moronic douche!
More brilliant idea's from the sages of Washington, DC.
A "Disgorgement" Recovery From Profligate CEOs: $40 Billion
Until several weeks ago, top CEOs and managers were collecting massive salaries and fees while they told the rest of us that "everything is fine." These CEOs gorged themselves and have taken the money and run. The four biggest investment banks on Wall Street shelled out $30 billion in bonuses last year. One of them, Lehman Brothers, has just gone under. Another, Bear Stearns, was bailed out earlier this year. To help pay for recovery, the new Treasury authority should seek the payback of executive compensation inappropriately extracted in the years before the Wall Street meltdown.
An Income Tax Surcharge on Incomes Over $5 Million: $105 Billion
A portion of the bailout cost should be financed with an emergency income tax surcharge on incomes over $5 million. Wealthy investors have been the big winners in the unregulated bubble economy. They have watched their incomes skyrocket over the last 25 years. Meanwhile, President George W. Bush has cut their taxes for seven years. Instituting a 50 percent tax rate on income over $5 million and a 70 percent rate on income over $10 million would generate $105 billion a year until the bailout is paid for.
A "Disgorgement" Recovery From Profligate CEOs: $40 Billion
Until several weeks ago, top CEOs and managers were collecting massive salaries and fees while they told the rest of us that "everything is fine." These CEOs gorged themselves and have taken the money and run. The four biggest investment banks on Wall Street shelled out $30 billion in bonuses last year. One of them, Lehman Brothers, has just gone under. Another, Bear Stearns, was bailed out earlier this year. To help pay for recovery, the new Treasury authority should seek the payback of executive compensation inappropriately extracted in the years before the Wall Street meltdown.
An Income Tax Surcharge on Incomes Over $5 Million: $105 Billion
A portion of the bailout cost should be financed with an emergency income tax surcharge on incomes over $5 million. Wealthy investors have been the big winners in the unregulated bubble economy. They have watched their incomes skyrocket over the last 25 years. Meanwhile, President George W. Bush has cut their taxes for seven years. Instituting a 50 percent tax rate on income over $5 million and a 70 percent rate on income over $10 million would generate $105 billion a year until the bailout is paid for.
"Obama said that, if elected, he would order a thorough review of the financial industry rescue plan and move to upgrade industry regulations. "
http://www.cnbc.com/id/26923233
Let's hope this doesn't include the transaction tax.
http://www.cnbc.com/id/26923233
Let's hope this doesn't include the transaction tax.
Just read this on one of the latest articles..
AP
Congress expected to pass rescue package
WASHINGTON - Congressional leaders and the Bush administration agreed Sunday on the main elements of a $700 billion bailout for the financial industry, paving the way for swift enactment of the largest government intervention in markets......
Another important bargain, vital to attracting support from centrist Democrats and Republicans who are fiscal hawks, would require that financial firms repay the government for any losses. A leading proposal would impose a 2 percent tax on the companies if, after five years, the program had not made back what it spent.
That works for me. Leave transactions out of this.
AP
Congress expected to pass rescue package
WASHINGTON - Congressional leaders and the Bush administration agreed Sunday on the main elements of a $700 billion bailout for the financial industry, paving the way for swift enactment of the largest government intervention in markets......
Another important bargain, vital to attracting support from centrist Democrats and Republicans who are fiscal hawks, would require that financial firms repay the government for any losses. A leading proposal would impose a 2 percent tax on the companies if, after five years, the program had not made back what it spent.
That works for me. Leave transactions out of this.
I saw that earlier this morning and thought the same....maybe this is their alternative to total immediate financial collapse?
btw...Barack Hussein Obama has a plan to place a Federal Ban on Concealed Carry Permits nationwide, usurping States' Rights to issue these permits in accordance with each states laws.
I found that to be frightening in the extreme.