Tax on Trades Should Be Part of Rescue Plan, Some Democrats Say

Landis82 · Sep 25, 2008

Quote from achilles28:

DeFazio. What a Clown.

"Speculators" caused this?

No, dumb fuck.

1% Fed Funds caused this. And useless Politicians (like you) who were either too stupid, or too corrupt to realize 65 Trillion in derivatives and Fed ownership in the same hands (Wallstreet), is a bad fucking idea.

Its called Moral Hazard, you Douche Bag

DeFazio's contact info:

http://www.defazio.house.gov/index.php?option=com_content&task=view&id=127&Itemid=74

Landis82 · Sep 25, 2008

Quote from Pa(b)st Prime:

Wags in many ways you're more a SoCal kind of guy, eh?

I'm against anyone in political office that has never taken a basic Econ. 101A class.
And unfortunately, that means just about everyone in the House and Senate.

Wayne Gibbous · Sep 25, 2008

Quote from achilles28:

These self-serving, dirt-stupid Politicians will be the death of this Country.

They grin and spread lies all day to butter their own bread.

What a load of cocksucking Motherless Whores.

Fuck it makes me ANGRY

Quit holding back and tell us how you REALLY feel, a28!

I'm with you. This is some scary shit. It would really f*ck us traders. :mad:

palenimbus · Sep 25, 2008

oh man, this is baddddd news

Look at all the kinds of bullshit they are pulling, first the short sale ban (even on stocks like IBM ?!) and now this.. And the market has only fallen approx. 20%, the real economy hasn't even contracted yet!

Can you imagine the crazy shit they are going to do when things really start to get hairy? Man I have no idea but it's not going to be good for anybody who's profession is even remotely associated with wall street.

heaven help us

Pa(b)st Prime · Sep 25, 2008

Quote from Landis82:

I'm against anyone in political office that has never taken a basic Econ. 101A class.
And unfortunately, that means just about everyone in the House and Senate.

It's like the whole country. Free market capitalism should be REQUIRED lessons. Of course it would never fly with one of the chapters being "Why School Choice Delivers More For Less".........

Susannah · Sep 25, 2008

So, if it did happen, when would it take effect? The day the bill is passed? Do we need to look this legislation over as soon as it is passed? How do they normally start new taxes on things, it's normally the new tax year, right?

wjk · Sep 25, 2008

Punish all for the actions of a few. Enact new laws because the old ones aren't enforced. Etc... These fuckers have been in DC way to long. Totally out of touch. We need an end to career politics. Sure would be nice to see a turnover. 535 would be about right.

sprstpd · Sep 25, 2008

Quote from Susannah:

So, if it did happen, when would it take effect?

No no you don't understand. It will just magically be enacted overnight, kind of like banning short selling!

sprstpd · Sep 25, 2008

Quote from seasideheights:

In a letter sent late yesterday to House Speaker Nancy Pelosi, 16 Democrats asked her to ensure any rescue legislation include a ``transaction tax'' on all U.S. stock trades and on other types of trades, such as credit default swaps, options and futures. They are proposing the tax would be at a rate of one quarter of one percent on all trades.

And these are the people we expect to make a good decision on a $700B bailout bill?

Susannah · Sep 25, 2008

So, you're saying it would all be collected from the broker. That's fine, at least I'd know about it then. If it's something I'd have to put on my tax return, I'd hate to get that surprise, if it was retroactive, well, then I guess I'd just be bankrupt.

ETA: I don't mean it's fine, I just mean I wouldn't be screwed without knowing.