New Financial Transaction Tax Purposed | Page 6 | TigerDroppings.com

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Tiger n Miami AU83
Auburn Fan
Miami
Member since Oct 2007
36215 posts

re: New Financial Transaction Tax Purposed


quote:

quote:
And his $6+ fee is the lowest in the market I am sure.
You are consistently wrong in this thread.

The lowest online trades now are $3.95.
\

Guess I gave you too much credit. Thanks for the correction.

**************ATTENTION ALL POSTERS************

The lowest online trades now are $3.95






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Drew Orleans
LSU Fan
Member since Mar 2010
19302 posts

re: New Financial Transaction Tax Purposed


So if my father has 5 mil. in the market and moves it around over the next couple years, you think it would be ok to take $1,500, because, "hey, who needs 1500 when you have 5 million?"





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dewster
Maryland Fan
Member since Aug 2006
9247 posts

re: New Financial Transaction Tax Purposed


quote:

Again I do not think the impact is meaningful at all


You went to college. You took economics. It's a transaction tax. When do they not have an impact on consumer behavior?

quote:

This is just targetting the frequent day trading (for the most part) and it is little more than an increased brokerage fee that:


I'm not sure why you are 100% behind this, or who sold it to you, but wouldn't a transaction tax target transactions regardless of how appropriate you or Washington sees them?

Who is in a position to determine how appropriate and fair a stock trade is? I guess it doesn't matter since a transaction tax will target it all.



This post was edited on 3/25 at 1:17 pm


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igoringa
LSU Fan
Tejas
Member since Jun 2007
9945 posts

re: New Financial Transaction Tax Purposed


quote:

They are. Win big at a casino and watch them withhold before paying you out and make you fill out the tax form.


Which has nothing to do with a 'transaction' tax
quote:


And being an accountant you should know net casino winnings are taxable.


Which has nothing to do with a 'transaction' tax.

So to make sure we understand your argument..... short time trading is like gambling, thus it should be subjected to a tax.... that no other form of gambling is, because after all it is gambling?

PwC - Your world; our people.






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LSURussian
LSU Fan
Baton Rouge
Member since Feb 2005
84383 posts

re: New Financial Transaction Tax Purposed


quote:

PLENTY view day trading as a form of gambling.
IDGAF if all of China thinks it, that doesn't make it true.

quote:

I would say the majority of people that are familiar with it and practice it view it as a form of gambling.
You are confusing the word "risk" with "gambling." Any investment trade involves risk, but that does not make it gambling.

quote:

You know what I am saying is correct anyway.
Nothing could be further from the truth. I'm really beginning to question your intelligence level.

Why do you capitalize 'gov' when you post it? It's not a proper noun. Is it just a subliminal message that you think government is all important?







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CptRusty
New Orleans Saints Fan
We are the ones who knock
Member since Aug 2011
4241 posts

re: New Financial Transaction Tax Purposed


quote:

So if my father has 5 mil. in the market and moves it around over the next couple years, you think it would be ok to take $1,500, because, "hey, who needs 1500 when you have 5 million?"


^ Liberal financial logic in a nutshell.






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dewster
Maryland Fan
Member since Aug 2006
9247 posts

re: New Financial Transaction Tax Purposed


quote:

^ Liberal financial logic in a nutshell.


And tax him again for capital gains, and again through inheritance tax and income tax. Double and triple taxation is okay to some people I guess.






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LSURussian
LSU Fan
Baton Rouge
Member since Feb 2005
84383 posts

re: New Financial Transaction Tax Purposed


quote:

I doubt it will to any appreciable level
Completely irrelevant to the point that this is just another attempt by the government to punish producers and give it to takers.






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dewster
Maryland Fan
Member since Aug 2006
9247 posts

re: New Financial Transaction Tax Purposed


quote:

and give it to takers.


It's a bad proposal regardless of how the revenue is spent by the government.

Taking that into account makes it even more foolish.

I admire the enthusiasm to "hose" Wall Street after they've socialized loses and privatized gains in the past few years, but this is going to hurt everyone directly or indirectly involved with the market....which is almost every man woman and child in the country. That tiny % is a huge bill when compounded long term to small investors, and and even more painful for institutional firms that handle our savings for us.



This post was edited on 3/25 at 1:21 pm


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ironsides
LSU Fan
Nashville, TN
Member since May 2006
6687 posts
 Online 

re: New Financial Transaction Tax Purposed


quote:



Completely irrelevant to the point that this is just another attempt by the government to punish producers and give it to takers.


Can't you say that about the financial industry though? Bunch of skimmers.

Shouldn't some markets be illiquid? Doesn't the role of a "liquidity provider" go against capitalism?






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Tiger n Miami AU83
Auburn Fan
Miami
Member since Oct 2007
36215 posts

re: New Financial Transaction Tax Purposed


quote:

So to make sure we understand your argument..... short time trading is like gambling, thus it should be subjected to a tax.... that no other form of gambling is, because after all it is gambling?


No, I am not saying it should be taxed because it is akin to gambling. I don't believe in "sin taxes", because I am one hell of a sinner as it is already.

I am just equating the behaviour to gambling. When I did it, it was very much like gambling to me. A hell of a lot of fun, exciting, addicting, etc.






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CptRusty
New Orleans Saints Fan
We are the ones who knock
Member since Aug 2011
4241 posts

re: New Financial Transaction Tax Purposed


quote:

And tax him again for capital gains


Not nearly enough. You know some secretaries pay a higher percentage than this?!?!

I guess we really do need a "transaction tax"







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LSURussian
LSU Fan
Baton Rouge
Member since Feb 2005
84383 posts

re: New Financial Transaction Tax Purposed


quote:

Shouldn't some markets be illiquid?
Some markets ARE illiquid.

quote:

Doesn't the role of a "liquidity provider" go against capitalism?

No.






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Tiger n Miami AU83
Auburn Fan
Miami
Member since Oct 2007
36215 posts

re: New Financial Transaction Tax Purposed


quote:

Can't you say that about the financial industry though? Bunch of skimmers


Kinda my arguement at the base level.

If a tax is going to go up or be created, this is one I am ok with. Main impact will simply be a less profitable trading account to the institutional investors. Who frankly often do not put their clients first.






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C
LSU Fan
The Woodlands, TX
Member since Dec 2007
22214 posts

re: New Financial Transaction Tax Purposed


quote:

I'm not sure why you are 100% behind this,


haha because he is a tax advisor. He is for anything that drives more business his way.






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dewster
Maryland Fan
Member since Aug 2006
9247 posts

re: New Financial Transaction Tax Purposed


quote:

Who frankly often do not put their clients first.


Is that what this is abount? Punishing someone? I hate the politics of bailouts probably even more than you....but I can see that a transaction tax wouldn't be limited to a select few here and there.

You realize that some firms actually do a great job with their client's money and this would impact them and their clients (you and me and much of middle class America) as well?

I consider you a cut above most of the liberal posters on this site...which means you are probably smarter than the lamp on my desk. I think with a little consideration, you'd see how misguided some of your assumptions are on this. It's not a good idea from an economic standpoint or from a matter of principle. You can see that and never have to read Russian's post.



This post was edited on 3/25 at 1:29 pm


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LSURussian
LSU Fan
Baton Rouge
Member since Feb 2005
84383 posts

re: New Financial Transaction Tax Purposed


quote:

If a tax is going to go up or be created
It's far from a fait accompli.

quote:

Main impact will simply be a less profitable trading account to the institutional investors.
Because no one EVER passes a tax along to their customers....



This post was edited on 3/25 at 1:26 pm


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C
LSU Fan
The Woodlands, TX
Member since Dec 2007
22214 posts

re: New Financial Transaction Tax Purposed


quote:

You know some secretaries pay a higher percentage than this?!?!


They are fricking 1%ers and they should be.






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Tiger n Miami AU83
Auburn Fan
Miami
Member since Oct 2007
36215 posts

re: New Financial Transaction Tax Purposed


quote:

Nothing could be further from the truth. I'm really beginning to question your intelligence level.


Question away. That is one area I am pretty secure in.

quote:

Why do you capitalize 'gov' when you post it? It's not a proper noun. Is it just a subliminal message that you think government is all important?


frick IDK. I think earlier in this thread I didn't capitalize it. Don't much care.






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Taxing Authority
LSU Fan
Houston
Member since Feb 2010
23359 posts

re: New Financial Transaction Tax Purposed


quote:

I thought you said you knew about short term trading???
Sounds like he's a washed up day-trader. He probably was gambling. Which probably why all of his trading was in the past...

What he fails to realize is that for those that know what they are doing it isn't gambling.

Typical failed wannabe trader.



This post was edited on 3/25 at 1:37 pm


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