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The White House supports studying a financial transaction tax (0.1% tax on stocks)
Posted on 2/21/21 at 8:40 pm
Posted on 2/21/21 at 8:40 pm
LINK
quote:
The White House supports studying the merits of a financial transaction tax — a move favored by progressives and despised by Wall Street — in the wake of the GameStop trading frenzy.
quote:
A 0.1% tax on stock, bond and derivative transactions could raise $777 billion for the federal government over a decade, according to a 2018 estimate by the nonpartisan Congressional Budget Office.
However, such a tax would face fierce opposition from Wall Street and it's unclear whether moderate Democrats would support it. Opponents warn it would backfire on retail investors by raising costs and making financial markets less liquid.
This post was edited on 2/21/21 at 8:43 pm
18
Posted on 2/21/21 at 8:44 pm to WPBTiger
frick them
Posted on 2/21/21 at 8:51 pm to WPBTiger
For fricks sakes man
Posted on 2/21/21 at 8:59 pm to WPBTiger
I had a conversation with a reasonably intelligent co worker today where he stated that taxes won’t go up under Biden unless you make “like 400k a year.”
Yeah.......
Yeah.......
Posted on 2/21/21 at 9:05 pm to JiminyCricket
This is just the beginning
Posted on 2/21/21 at 9:07 pm to WPBTiger
How about they stop spending
Posted on 2/21/21 at 9:14 pm to WPBTiger
They don't believe your property is your property. Illegitimate elections have consequences.
Posted on 2/21/21 at 9:16 pm to WPBTiger
If there was a way to limit this to HFT hedge funds doing billions of trades annually, I’d consider that in exchange for indexing capital gains to inflation.
Posted on 2/21/21 at 9:27 pm to GeneralLee
I wouldn't trust a Democrat as far as I see them. You have to be completely brainwashed to be a Democrat these days.
Posted on 2/21/21 at 9:36 pm to tenderfoot tigah
quote:
You have to be completely brainwashed to be a Democrat these days.
you have plenty of those idiots who post here!
Posted on 2/22/21 at 6:19 am to WPBTiger
Think about the actual ins and outs of a policy like this.. Your 401ks, ETFs, IRAs and the huge funds that hold pensions, etc. would have to pay a tax each time they reposition. This isn't just going to just hurt the small retail investors and it would almost assuredly blow the market up.
This and the unrealized cap gains tax are two of the dumbest policies I've ever heard of being proposed.
This and the unrealized cap gains tax are two of the dumbest policies I've ever heard of being proposed.
Posted on 2/22/21 at 6:32 am to Triple Bogey
They will just give it to people who have done absolutely nothing to earn it
Posted on 2/22/21 at 6:50 am to WPBTiger
This is what happens when you vote for an extreme authoritarian government. This isnt a great nation anymore just a clown show.
Posted on 2/22/21 at 7:05 am to WPBTiger
Congratulations Want Brigade
But the color orange was so bad
But the color orange was so bad
Posted on 2/22/21 at 7:49 am to WPBTiger
Elections have consequences. Taxes are going up as much as possible. Have to pay for the stimulus, you know, instead of cutting taxes to actually stimulate the economy.
Posted on 2/22/21 at 7:58 am to kywildcatfanone
quote:
Elections have consequences. Taxes are going up as much as possible. Have to pay for the stimulus, you know, instead of cutting taxes to actually stimulate the economy.
Let's keep the election commentary on the poliboard. We've been doing this dump stimulus into the economy regardless of party lines for as long as I remember. Someone was eventually gonna have to pay for it although this policy makes no sense to me. Seems like the best place to get the money would be to reduce tax breaks and plug loopholes in our current system isn't of inventing new taxes
Posted on 2/22/21 at 8:22 am to oklahogjr
quote:
Let's keep the election commentary on the poliboard.
This seems like a reasonable place to discuss the implications of a tax on stock trades to me
Posted on 2/22/21 at 8:24 am to jchamil
quote:
This seems like a reasonable place to discuss the implications of a tax on stock trades to me
He/she is one of the posters who voted for this type of tax
Of course he/she wants to avoid any of that talk
Posted on 2/22/21 at 8:59 am to jchamil
quote:
This seems like a reasonable place to discuss the implications of a tax on stock trades to me
Sure let's discuss the implications as I said I wish they'd look elsewhere and others said the market will react negatively to this happening because of the cash cost to not just smaller but larger institutions. Let's dive deeper please provide your detailed analysis.
Bitching that Dems or Republicans either one spends too much is poliboard Fodder. both parties overreach, spend too much ,and interfere with the markets unnecessarily.
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