Which democratic candidate is least likely to succeed in passing a stock transaction tax?

[zdreg]

stochastix said:
by large i mean, 0.5% or so, not a penny or something like that, even though that would still be a lot

Is this a trick question ?

Expect your New York City Democrats and Chicago Democrats to have their carve-outs. Which would mean that the banks and private equity firms are exempted.

Exactly, Wall Street always tries to claw back anything that gives the public a level field.

 

[stochastix]

Adding a ftt wouldnt level anything. Just shovel more money to a giant black hole known as government and drive me (part of the public) out of business and prevent me from creating jobs

 

[Sig]

Adding a ftt wouldnt level anything. Just shovel more money to a giant black hole known as government and drive me (part of the public) out of business and prevent me from creating jobs

How many people do you personally or the company you founded and run employ? If the answer is zero, then please spare us the bullshit about all the jobs you're creating.

 

[gkishot]

Actually I was trying to explain that even if you only care about your own self interest it's not in your self interest to attempt to convince others by complaining about how it impacts you....this being a democracy and all and our interest group being pretty small, miniscule really.

Why? Complaining works for others. In democracy the majority should protect the rights of the minority. At least this is the message today's democrats are trying to convey. Why should the "liberals" change to autocracy toward other minority groups? Does it have something to do with money and their need for a lot of it?

 

[stochastix]

How many people do you personally or the company you founded and run employ? If the answer is zero, then please spare us the bullshit about all the jobs you're creating.

The answer is about to be more than zero , I've employed a few contractors here and there

 

[Sig]

The answer is about to be more than zero , I've employed a few contractors here and there

And some of us who have a different view of government than you actually have built companies and hundreds of jobs. Just remember that your viewpoint doesn't have a monopoly on job creation, and it seems the people I hear who scream the most about "the government not letting me create jobs" haven't actually meaningfully created any, nor meaningfully tried.

There are those of us who believe that having a well educated population, a strong rule of law, police, fire, roads, a military (although sucking up more than half of discretionary spending is absurd, in this veteran's opinion), national parks, kid's who are born to poor families getting medical care and not starving....all things your government provides and places without government like say Somalia do not.... are what lead to a strong economy and good jobs. And we've build companies and jobs based on that. If you disagree you'd need to show that you tried to build a company but couldn't....because government.... AND we're all flukes who somehow managed to create jobs despite rather than because we have government. Or just not complain about how the government is precluding you from creating jobs.

 

[stochastix]

And some of us who have a different view of government than you actually have built companies and hundreds of jobs. Just remember that your viewpoint doesn't have a monopoly on job creation, and it seems the people I hear who scream the most about "the government not letting me create jobs" haven't actually meaningfully created any, nor meaningfully tried.

There are those of us who believe that having a well educated population, a strong rule of law, police, fire, roads, a military (although sucking up more than half of discretionary spending is absurd, in this veteran's opinion), national parks, kid's who are born to poor families getting medical care and not starving....all things your government provides and places without government like say Somalia do not.... are what lead to a strong economy and good jobs. And we've build companies and jobs based on that. If you disagree you'd need to show that you tried to build a company but couldn't....because government.... AND we're all flukes who somehow managed to create jobs despite rather than because we have government. Or just not complain about how the government is precluding you from creating jobs.

I never made that claim. I'm claiming that an ftt will kill the business I'm starting . I'm worried about a democrat killing hft before I've had a chance at the table because they think only rich people are doing hft

 

[murray t turtle]

I like your going with this. My boss when I was employed by a market maker started screaming about price distortions one day when he was really talking about the computer monitor being dirty or something.. I said a price distortion is when government intervenes and he got mad cause I was right. It would be a big wrench in the machine but might be some opportunity as well. I did master the skills of dynamic programming and optimal control so maybe I could design another strategy

%%
A transaction tax most likely never happens. Self interest which is good, is not to be confused with selfishness.
And with about 50% of USA having stocks/ETFs/mutual funds, a transaction tax is a terrible idea. Give the gov more than average ETF management fee ??,No thanks

 

[stochastix]

well, there is already the section 31 tax at https://www.sec.gov/news/press-release/2020-7 which is $22.10 per million dollars sold and it has been in that ballpark for a long time

 

[ges]

Probably Bloomberg or Biden if I had to guess but ultimately the Democratic Party is trending socialist so nothing would surprise me

That's funny. I'm 70 yo and for decades I've watched as our politics trends ever more to the right, until now we have a full-blown idiot authoritarian befouling the WH. So now we have moderate centrists being called socialists.