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WPBTiger
USA Fan
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Member since Nov 2011
22121 posts
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The White House supports studying a financial transaction tax (0.1% tax on stocks)
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 at 8:43 pm


wileyjones
Member since May 2014
591 posts
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re: The White House supports studying a financial transaction tax (0.1% tax on stocks)
frick any tax


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642
jimbeam
US Army Fan
University of LSU
Member since Oct 2011
70871 posts
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re: The White House supports studying a financial transaction tax (0.1% tax on stocks)
frick them


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381
castorinho
Oklahoma Fan
13623 posts
Member since Nov 2010
75207 posts

re: The White House supports studying a financial transaction tax (0.1% tax on stocks)
For fricks sakes man


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280
JiminyCricket
McCall Creek
Member since Jun 2017
450 posts
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re: The White House supports studying a financial transaction tax (0.1% tax on stocks)
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.......


HailToTheChiz
Auburn Fan
Back in Auburn
Member since Aug 2010
39344 posts
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re: The White House supports studying a financial transaction tax (0.1% tax on stocks)
This is just the beginning


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181
xxTIMMYxx
Member since Aug 2019
6541 posts

re: The White House supports studying a financial transaction tax (0.1% tax on stocks)
How about they stop spending


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311
Zachary
Member since Jan 2007
1053 posts

re: The White House supports studying a financial transaction tax (0.1% tax on stocks)
They don't believe your property is your property. Illegitimate elections have consequences.


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434
GeneralLee
LSU Fan
Member since Aug 2004
10764 posts

re: The White House supports studying a financial transaction tax (0.1% tax on stocks)
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.


tenderfoot tigah
LSU Fan
Red Stick
Member since Sep 2004
6814 posts

re: The White House supports studying a financial transaction tax (0.1% tax on stocks)
I wouldn't trust a Democrat as far as I see them. You have to be completely brainwashed to be a Democrat these days.


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Fat Bastard
Boston College Fan
Member since Mar 2009
53041 posts

re: The White House supports studying a financial transaction tax (0.1% tax on stocks)
quote:

You have to be completely brainwashed to be a Democrat these days.




you have plenty of those idiots who post here!



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155
Triple Bogey
LSU Fan
19th Green
Member since May 2017
3887 posts

re: The White House supports studying a financial transaction tax (0.1% tax on stocks)
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.


xxTIMMYxx
Member since Aug 2019
6541 posts

re: The White House supports studying a financial transaction tax (0.1% tax on stocks)
They will just give it to people who have done absolutely nothing to earn it


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142
BlackPawnMartyr
Alabama Fan
Houston, TX
Member since Dec 2010
13201 posts

re: The White House supports studying a financial transaction tax (0.1% tax on stocks)
This is what happens when you vote for an extreme authoritarian government. This isnt a great nation anymore just a clown show.


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123
SDVTiger
Hawaii Fan
Cabo San Lucas
Member since Nov 2011
51560 posts
 Online 

re: The White House supports studying a financial transaction tax (0.1% tax on stocks)
Congratulations Want Brigade


But the color orange was so bad


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122
kywildcatfanone
Kentucky Fan
Wildcat Country!
Member since Oct 2012
80028 posts
 Online 

re: The White House supports studying a financial transaction tax (0.1% tax on stocks)
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.


oklahogjr
Arizona State Fan
Gold Membership
Member since Jan 2010
31235 posts

re: The White House supports studying a financial transaction tax (0.1% tax on stocks)
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


jchamil
Member since Nov 2009
10384 posts
 Online 

re: The White House supports studying a financial transaction tax (0.1% tax on stocks)
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


SDVTiger
Hawaii Fan
Cabo San Lucas
Member since Nov 2011
51560 posts
 Online 

re: The White House supports studying a financial transaction tax (0.1% tax on stocks)
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


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102
oklahogjr
Arizona State Fan
Gold Membership
Member since Jan 2010
31235 posts

re: The White House supports studying a financial transaction tax (0.1% tax on stocks)
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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