Trading tax of .25% on all transactions! Have you seen this?

A

ArcticTrader

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I can't believe that this would actually pass... 0.25% on a single contract worth $40,000 would be $100 per side! Has anyone heard something more about this idiot's idea and the chances of it passing?

http://www.cnbc.com/id/15840232?video=1051076486&play=1

If it does pass, it might make daytrading impossible... of course, the story is dated from the beginning of March, so I don't know how it has turned out since then...
 
Quote from ArcticTrader:

I can't believe that this would actually pass... 0.25% on a single contract worth $40,000 would be $100 per side! Has anyone heard something more about this idiot's idea and the chances of it passing?

http://www.cnbc.com/id/15840232?video=1051076486&play=1

If it does pass, it might make daytrading impossible... of course, the story is dated from the beginning of March, so I don't know how it has turned out since then...
More...

Hey dude, Michael Jackson is dead. For real. Have you seen it?
 
This has been brought up before, and there are threads on ET regarding this proposal. I called my reps and called Defazio's office even though he's not my rep. Call your Congress people and tell them to stick up their arse! Don't wait, don't think someone else will take care of it. The reason these clowns have so much power anymore is the lack of participation by the population in our system. Blast them with your thoughts and let them know this is how you make a living that supports yourself, you family, and pumps money back into the economy! Don't sit and watch, participate!
 
If US politicians are actually stupid enough to pass this, everyone will just move over and start daytrading Eurex and other international exchanges a lot more.... that's why it probably won't pass. In a global economy with 24 hour markets, this type of radical solution would just backfire since the money has lots of other places to go.

I think we should mandate a minimum required IQ of 75 for all members of Congress... that way they'd at least be a match for Forrest Gump.
 
Quote from TraDaToR:

Hey dude, Michael Jackson is dead. For real. Have you seen it?
More...

Ha ha - Ok I get your point. :) But I did a search on this topic already and didn't find it, that's why I posted...
 
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