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WSJ today: Democrats Weigh Tax on Financial Transactions
- Thread starter jammy page
- Start date
Quote from Random.Capital:
Why would this be a bad thing? Daytrading provides zero meaningful economic activity - who cares if it dies?
I disagree with that. I make 150K + daytrading and I will say this, I spend alot, thus adding to the economy. I pay for my kids stuff, dinners, lots of property tax. Now If I didn't daytrade I would be teaching elementary kids making 50K/year and not taking 3 vacation a year or spending 2 weeks in nantucket or donating as much money.
Take away daytrader and you take away TONS of consumer spending. Daytrading is a job just like anythignn else. OH, I pay a shitload of taxes too on gains!
Quote from PrimeX:
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.
Bullshit. If you want to lay down and die go right ahead, but I'm going to fight this thing.
When you can show me one person who will vote on this tax whose position in office does not depend on the people's votes, then I might listen to your "just be quiet and let the big money talk for you" line of nonsense.
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.
The main thrust of the Nazi Party in Germany was that they would only allow gains from activity that produced something directly.... they stole the wealth of their entire upper middle class and still were bankrupted... I'm for freedom, if somebody can make their living trading and they love it.. fine... jeez, 20% of our population just scrounge money from the public sector and anywhere else they can get it. Before we villify traders let's get all of those bums into productive work of some kind..
Quote from PrimeX:
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.
Wrong. Politicians like, scratch that, LOVE to be re-elected.
When their constituents make a fuss, they listen.
Look no further than health care recently and immigration reform a couple years back. Both of these things looked like they were going to be crammed through and likely would have until people started getting upset.
I agree, that it takes a lot to get these people to listen, but they will take heed if enough people get upset.
Quote from Sodajerk:
Bullshit. If you want to lay down and die go right ahead, but I'm going to fight this thing.
When you can show me one person who will vote on this tax whose position in office does not depend on the people's votes, then I might listen to your "just be quiet and let the big money talk for you" line of nonsense.
You're so paranoid all you see is red. I was trying to steer you in the right direction.
In any event, don't for a second think your letter writing and phone calling is what won the day when none of this goes through.
Quote from clacy:
Wrong. Politicians like, scratch that, LOVE to be re-elected.
When their constituents make a fuss, they listen.
Look no further than health care recently and immigration reform a couple years back. Both of these things looked like they were going to be crammed through and likely would have until people started getting upset.
I agree, that it takes a lot to get these people to listen, but they will take heed if enough people get upset.
The one most important thing missed is that traders are a despised minority. We can't be stupid enough to think our making a grassroots stink (letter writing and phone calling) will have an effect that lends positively to our cause.
And since it's indeed a fact that Politicians LOVE to be re-elected, attacking the livelihood of small time traders (portrayed to the masses as gamblers and risk takers that manipulate prices detrimentally) plays favorably. Unless they (politicians) have a conflict of interest. In other words, they wouldn't want to bite the hand that feeds them (i.e. source of campaign funding).
Hint. Hint.
Trust me, the right palms are being greased...
Quote from PrimeX:
You're so paranoid all you see is red. I was trying to steer you in the right direction.
In any event, don't for a second think your letter writing and phone calling is what won the day when none of this goes through.
That's indistinguishable from handwaving. Something this unsubstantial is as good as nothing at all.
Why should we "trust you" and your feel-good take a nap recommendation when our businesses are on the line?
Quote from Sodajerk:
That's indistinguishable from handwaving. Something this unsubstantial is as good as nothing at all.
Why should we "trust you" and your feel-good take a nap recommendation when our businesses are on the line?
Don't be a dick. I didn't say or recommend taking a nap or doing nothing. Though your letter writing and phone calling is effectively, nothing at all.
Align yourself with with persons and organizations with relevance. And do so with your wallet. Not your pen or phone.
Otherwise you're just a lone wolf piker with delusions of grandeur.
Nobody gives a crap about that guy.
Quote from PrimeX:
Don't be a dick. I didn't say or recommend taking a nap or doing nothing. Though your letter writing and phone calling is effectively, nothing at all.
Align yourself with with persons and organizations with relevance. And do so with your wallet. Not your pen or phone.
Otherwise you're just a lone wolf piker with delusions of grandeur.
Nobody gives a crap about that guy.
I see you like name-calling and cotton candy. It has already been explained to you by me and at least one other poster how our elected representatives have been shown to respond to the people who hired them into office in the first place. Leaving any potentially helpful button unpushed in this emergency would be foolish, as would relying on some guy who says "relax, my special gimmick has got this covered" without proving diddly.