- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Ilhan Omar pushes for new tax on stock trades amid GameStop frenzy
Posted on 2/1/21 at 6:41 pm
Posted on 2/1/21 at 6:41 pm
LINK
quote:
Rep. Ilhan Omar called for a new tax on stock trades after a battle between an army of amateur investors and hedge funds caused a dramatic swing in the share price of GameStop and other heavily shorted companies, shaking Wall Street.
quote:
A small tax - 0.1% - on each Wall Street trade would reduce high frequency trading, a practice which drains profits from retail investors and benefits only the very rich.
We could use the close to $1 trillion it would generate to cancel all student debt and make college free.
17
Posted on 2/1/21 at 6:42 pm to WPBTiger
Well,
I’m sure this will go well for her...
I’m sure this will go well for her...
Posted on 2/1/21 at 6:43 pm to WPBTiger
quote:
A small tax - 0.1% - on each Wall Street trade
frick her.
quote:
make college free.
Well I do have two teens..
Posted on 2/1/21 at 6:44 pm to WPBTiger
quote:
A small tax - 0.1% - on each Wall Street trade
I saw this earlier and all I could think was 0.1% of what?
Posted on 2/1/21 at 6:46 pm to WPBTiger
Hate the tax or support it, it would tilt the scales more towards retail investors than they currently are.
HFT is a institution game and anything that impairs them would be a good thing for mom and pop investors
HFT is a institution game and anything that impairs them would be a good thing for mom and pop investors
Posted on 2/1/21 at 6:46 pm to WPBTiger
Anything that generates $1T in taxes is going to be a no for me.
Posted on 2/1/21 at 6:49 pm to Powerman
I would imagine 0.1% of the value of each trade
Posted on 2/1/21 at 6:51 pm to iAmBatman
quote:
I would imagine 0.1% of the value of each trade
That's what I was thinking
And it also sounds like a terribly stupid idea
Posted on 2/1/21 at 6:52 pm to Powerman
quote:
And it also sounds like a terribly stupid idea
Why? Other than it’s a new tax
Posted on 2/1/21 at 6:52 pm to iAmBatman
Guess I'd have to give it more consideration. You do make a good point about it likely having some positive benefit to retail investors.
Posted on 2/1/21 at 6:54 pm to WPBTiger
I knew this would happen when everyone were encouraged to continue the circus and “stick it to Wall Street.”
Posted on 2/1/21 at 6:55 pm to iAmBatman
quote:
Hate the tax or support it, it would tilt the scales more towards retail investors than they currently are.
HFT is a institution game and anything that impairs them would be a good thing for mom and pop investors
HFT is almost always institution vs institution. The material impact to the average investor is essentially nil, but I wouldn’t lose any sleep if it went away.
This post was edited on 2/1/21 at 6:56 pm
Posted on 2/1/21 at 6:56 pm to WPBTiger
quote:
A small tax
quote:
0.1% - on each Wall Street trade
Posted on 2/1/21 at 6:57 pm to iAmBatman
quote:
would imagine 0.1% of the value of each trade
Damn let's just bring back flat fees instead.
Posted on 2/1/21 at 6:57 pm to WPBTiger
When your solution to everything is to tax people.
You might be a socialist.
You might be a socialist.
Posted on 2/1/21 at 6:59 pm to TheChosenOne
One side of the mouth: we need to encourage middle and lower class people to save and invest responsibly
Other side of mouth: Let's tax people when they try to save and invest, effectively punishing the practice
Other side of mouth: Let's tax people when they try to save and invest, effectively punishing the practice
Posted on 2/1/21 at 7:04 pm to Chucktown_Badger
I’m sure you could structure it to be below a certain number of trades per month or year or day. And you could also exclude retirement accounts from this.
Just dismissing this because it’s a tax without actually thinking beyond that fact is ignorant.
Just dismissing this because it’s a tax without actually thinking beyond that fact is ignorant.
Posted on 2/1/21 at 7:07 pm to WPBTiger
quote:
would reduce high frequency trading, a practice which drains profits from retail investors and benefits only the very rich.
Well that's just false. Shocker.
Posted on 2/1/21 at 7:07 pm to iAmBatman
They’ve discussed the idea of a tax on trades that are held less than a day.
My ultimate belief is this - if it’s bad for retail investors, ban it altogether. Don’t just throw your hand in the cookie jar to get yours while still screwing investors.
And ftr, I’m not convinced HFT is really all that bad period.
My ultimate belief is this - if it’s bad for retail investors, ban it altogether. Don’t just throw your hand in the cookie jar to get yours while still screwing investors.
And ftr, I’m not convinced HFT is really all that bad period.
Posted on 2/1/21 at 7:11 pm to iAmBatman
quote:
I’m sure you could structure it to be below a certain number of trades per month or year or day. And you could also exclude retirement accounts from this.
Just dismissing this because it’s a tax without actually thinking beyond that fact is ignorant.
Never let the Govt issue a new tax. It will only go up from here.
They already tax profits on trades...it is called capital gains. No need for another tax,
Page 1 of 4
Back to top
Follow TigerDroppings for LSU Football News