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Taxing Authority
LSU Fan
Houston
Member since Feb 2010
28150 posts

re: New Financial Transaction Tax Purposed
quote:

Call it what you want dude, but just because you read a financial statement and hold a stock for more than a day but less than 12 months does not make you an investor
Buying a stock you heard about on Jim Cramers show and holding it for 366 days doesn't make one any more of an investor. Why should these two people be taxed differently based on the morality of their actions?

Serious question... How long does one have to hold an asset to turn it from gambling to investing? And how do you come to that measure?
This post was edited on 3/26 at 1:44 pm


TerryDawg03
Georgia Fan
The Deep South
Member since Dec 2012
4124 posts
 Online 

re: New Financial Transaction Tax Purposed
quote:

Serious question... How long does one have to hold an asset to turn it from gambling to investing? And how do you come to that measure?


And since there are two sides to every trade, who is the speculator? Just folks that go long? What happens when a short trade is executed and the other party goes long? Who pays the tax? And how does one prove their intent on investing? Too many uncertainties.

quote:

The government tries to ameliorate its theft by justifying it as a solution to a perceived immorality.


Great quote.


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