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

[bbqbbq]

well, if they mean with 0,25% the whole worth of a futures contract, then yes, it's alot. a $5 roundturn is less then 0,01% of a future contract worth $70000

a 0.25% tax will make roundturn 25x more expensive, making it around $125. That would probably kill futures daytrading.

 

[IanMacQuaide]

and they'll make it retroactive for 10 years

 

[Robert Weinstein]

Quote from mokwit:

Big drag on non institutional trading volume. This tax created the CFD market and reduced stock trading further. Now that IDIOT Brown, the Sub Prime Minister is talking about permanent anti shorting legislation to shift the blame from his creation of false prosperity that is now collapsing.

UK is OFF my radar screen because of this tax.

I agree, I trade some markets outside the US but the UK isnt even on my radar due to the tax.

 

[alientrader]

china cuts taxes on stock trading but america imposes it, this is like a communist CUNTry

 

[Red_Ink_inc]

Tax his land, tax his wage,
Tax his bed in which he lays.
Tax his tractor, tax his mule,
Teach him taxes is the rule.



Tax his cow, tax his goat,
Tax his pants, tax his coat.
Tax his ties, tax his shirts,
Tax his work, tax his dirt.



Tax his tobacco, tax his drink,
Tax him if he tries to think.
Tax his booze, tax his beers,
If he cries, tax his tears.



Tax his bills, tax his gas,
Tax his notes, tax his cash.
Tax him good and let him know
That after taxes, he has no dough.



If he hollers, tax him more,
Tax him until he's good and sore.
Tax his coffin, tax his grave,
Tax the sod in which he lays.



Put these words upon his tomb,
"Taxes drove me to my doom!"
And when he's gone, we won't relax,
We'll still be after the inheritance TAX

 

[wilburbear]

Quote from seasideheights:

Make sure you send that URL to each of your brokers. Even just thru the online help messaging if your broker has it. Otherwise, email.


http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a5UhcbI4jecU

Great idea. Send it to anyone you know in the financial industry.

 

[achilles28]

Quote from Landis82:

DeFazio's contact info:

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

THanks.

I'm gonna write that Son of Bitch

 

[styron]

How dare they ask the financial industry to pay for a portion of the bailout of the financial industry. A bailout caused by the recklessness of the financial industry. I'm outraged.

The burden of this bailout should not fall on any portion of the financial industry but rather fall entirely on middle America.

 

[sprstpd]

Quote from styron:

How dare they ask the financial industry to pay for a portion of the bailout of the financial industry. A bailout caused by the recklessness of the financial industry. I'm outraged.

Ummm, certainly the retail brokerages and the exchanges had nothing to do with the current fiasco. So I think your argument is pretty dumb.

 

[forsalenyc]

Quote from 1Reason:

I agree, I trade some markets outside the US but the UK isnt even on my radar due to the tax.

If US does this, then rest of the world will follow. why not? it's free money for the gov't...hooray!!!