WSJ today: Democrats Weigh Tax on Financial Transactions

Quote from listedguru:

Yeah the senate would be the one to crush this bill if it ever got that far. The house is kind of like JV sports back in highschool. It's for those that can't make the real team (and make the big desisions:)

-Guru
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I never believed that Schumer would be for the tax since Wall Street is in his constituency area. The House of Reps. have many more pro tax, douche bag liberal, anti-Wall Street legislators. I see no way the Senate would pass something like this. Thankgoodness!
 
Quote from JOSEF:

By the way, if Sen. Schumer is indeed against this, then it will not be adopted as long as all of the Republicans in the senate stay united in their opposition to it. Thanks to Schumer they would have enough votes to filibuster it.
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I suspect senators/reps from CT, NJ, NY, IL would be against it, as they all have a lot of people in the financial industry who would be negatively impacted.
 
Quote from JOSEF:


If people have a chance, try calling them instead of e-mailing them. I have been told it has a bigger impact.
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Completely agree .. emails are too easily ignored.. take the time to save your job and career and make a few simple phone calls, it's much more powerful
 
Daytraders serve similar functions to MMs and Specialists....in one sense of liquidity....

Just look at today vs yesterday....Hopefully there will be enough daytraders to fully replace MMs and Ss.....

Can´t wait till China has a billion hitting the keys......

Daytraders have the potential to be the core of the better distribution of wealth....

Lots of winners and losers is what the market needs....

Just like in the real world....70% of the jobs are provided by small businesses....and most all of them do not exist for very long....just part of the food chain....always big fish...small fish.....some small fish do not get eaten....but not many....

Distribution of wealth via stock is the future....and should be the current....

The future is not going to look like the past.....just as today does not look like 1980 when the PC began to change the financial industry....

The securities market is where it´s at....

Daytraders are facilitators of wealth....
representing all public companies.....and make it possible for pension plans and long term holders to buy/sell for 20 cents instead of 5 to 10%.....

ie what is another facilitator ? Walmart is a facilitator of cheap Chinese goods and generic drugs....

The game is all about efficiency....

In our lifetime....one will be able to seamlessly participate in any security class anywhere in the world....in the language and currency of choice....

You might just talk to your computer...and it will just go do it....

It is going to be amazing....Today´s exchange will look as antiquated as the single quote quotron....in just a few years....

Political causes will not forever block efficiencies.....

Efficiency will always win the game....always....

GS owns the exchanges...they own them....and they will never allow inefficiencies.....

If the US has a temporary spasm....we will just be logging in to Hong Kong or Dubai....

The exchange is nothing more than time stamp software.....It can be located in any country ...and you will not know the difference....

Efficiency never goes in reverse....NEVER.....
 
Quote from TraderZones:

I suspect senators/reps from CT, NJ, NY, IL would be against it, as they all have a lot of people in the financial industry who would be negatively impacted.
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Add to that FL, CA, AZ, Penn, and Kansas.

Bottom line, stop worrying about it.
 
Quote from PrimeX:

Add to that FL, CA, AZ, Penn, and Kansas.

Bottom line, stop worrying about it.
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You missed a step.

First make sure your elected representatives know how you feel about your livelihood being taken away, then stop worrying about it.
 
Quote from Random.Capital:

It doesn't provide food, it doesn't create tangible products, etc etc etc.

Daytrading is essentially paper-shuffling, and is about as meaningless an economic activity as we have in our modern society.

I don't object to it existing, but I sure am going to object to it being touted as somehow important or worthy of special protection.
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Yes it does because the money made by the people doing it purchases tangible products.

The more stuff that is bought, the more is produced. Production provides jobs and on and on.

Special protection? How about special prosecution?
 
the democratic PARTY is slowing expanding their agenda of allowing risk taker non union robots to basically be allowed to keep 30 % of risk income after all taxes and fees have been taken by the democratic CONFISCATS!!!!!!!
 
Quote from skylr33:

I never believed that Schumer would be for the tax since Wall Street is in his constituency area. The House of Reps. have many more pro tax, douche bag liberal, anti-Wall Street legislators. I see no way the Senate would pass something like this. Thankgoodness!
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this is real nonsense from someone who didn't believe it would come this far.
 
Quote from Sodajerk:

You missed a step.

First make sure your elected representatives know how you feel about your livelihood being taken away, then stop worrying about it.
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You don't really think that would make a difference do you? Money talks, my friend. Money.

And or political capital.

Not phone calls and letters from an otherwise insignificant minority.

Be realistic.

In any event, those who understand the system and how it works are hard at work doing what counts.
 
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