http://www.nytimes.c...rbert.html?_r=2
IT
Edited by IndexTrader, 14 January 2009 - 09:30 PM.
Posted 14 January 2009 - 09:28 PM
Edited by IndexTrader, 14 January 2009 - 09:30 PM.
Posted 14 January 2009 - 09:45 PM
Posted 14 January 2009 - 09:45 PM
Here's an article that was in the NY Times today. A 1/4% tranaction tax perhaps levied when you buy and when you sell. So if you bought and sold 1000 shares at 20, it would cost you $100, win or lose. This would also be levied on futures and options. As I see it, it would end active trading as this cost would become prohibitive. I would suggest that you speak against this, and resist it vigorously at every level, to include with your Congressmen and Senators. This could potentially become a popular idea amongst non-traders, and uninformed "economists".
http://www.nytimes.c...rbert.html?_r=2
IT
Love, be kind to one another, seek the truth, walk the narrow path between the ying and the yang.
Posted 14 January 2009 - 09:52 PM
Posted 14 January 2009 - 09:57 PM
Posted 14 January 2009 - 10:04 PM
From the article:
"The economist Dean Baker is a strong advocate of a financial transactions tax. This would impose a small fee — ranging up to, say, 0.25 percent — on the sale or transfer of stocks, bonds and other financial assets, including the seemingly endless variety of exotic financial instruments that have been in the news so much lately.
According to Mr. Baker, the co-director of the Center for Economic and Policy Research in Washington, the fees would raise a ton of money, perhaps $100 billion or more annually — money that the government sorely needs."
Dean Baker does some of the finest economic work today, and I agree with him wholeheartedly that some kind of "Tobin tax" should be instituted - the sooner, the better.
A 0.25% tax on every transaction merely requires a profitable trader/speculator/gambler to earn more than 0.50% on a round trip buy-and-sell trade. And let's keep in mind that's exactly what we're all doing here - gambling.
I recall a study from several years ago that found a very small tax - like 0.01% - on all currency transactions worldwide would raise enough money to provide access to potable drinking water throughout the developing world. That's a very worthy goal for such a small tax on gambling.
Posted 14 January 2009 - 10:06 PM
Its a good move. Even if they take 25 cents a trade. It would add up to alot of money. No real skin off anybody. They would have to charge quite a bit per, to dissuade folks.
Posted 14 January 2009 - 10:07 PM
Edited by zigzag, 14 January 2009 - 10:08 PM.
Posted 14 January 2009 - 10:08 PM
Posted 14 January 2009 - 10:08 PM