Traders Tax there again
Posted 24 February 2009 - 10:55 PM
Posted 25 February 2009 - 07:33 AM
Posted 25 February 2009 - 11:52 AM
Posted 05 March 2009 - 04:58 PM
At the beginning of this thread TommyT posted the link to HR 676 which authorizes this type tax as a means of raising revenue. The first link below is to the text of the DeFazio bill (HR 1068) if you haven't read it or heard about it already. There are some good explanations about the results of this bill - what it will do to the markets and to individuals - in other threads here. The impact is astonishing. You've probably seen these posts, but if you haven't I recommend you search for them....
Library of Congress: HR 1068
Here is a brief CNBC interview with Representative DeFazio.
CNBC Interview: Rep. Peter Defazio
Posting slams against the Oregon representative will not do any good, and will possibly bring heat on the board, so view the clip, follow the links below, and spread the word to your friends.
Next are links to two petition/letter sites which offer efficient ways to contact your congressmen and senator. If you haven't participated in this process, please take the time, make the effort, and let your thoughts be known.
Security Traders Association
If you've already done one of these, look at the other, as the focus is slightly different. There's no rule that says you can only write one letter to your folks in DC, so have a go at the other, and add your personal thoughts.
I've deleted a rehash of my own thoughts and opinions about this from this post, but consider this. If this bill passes and you haven't done anything.... Alton 3-5-9
Edited by Alton, 05 March 2009 - 05:05 PM.
Posted 06 March 2009 - 06:13 PM
Posted 06 March 2009 - 07:05 PM
Posted 06 March 2009 - 07:15 PM
then TT will become the voice of the resitance. We'll find a new home off shore and deprive them of our productive capacity. A new derivatives market will be spawned off short as well though many traders will just drop the US for other markets.
And the tax will make a few hundred mil from pensioners and those who have to invest here.
You know, its something horrible that any people think it's OK to FORCE people out of business through the force of government.
Many of us have worked a lifetime, including a lot of long, long days and nights to become good at what we do. We make a living leaving very small foot print too. Virtually no pollution. No fuel consumption. No environmental degradation. We just make the market more efficient, take a tiny sliver, and pump most of those profits back into the economy.
Mark, you are absolutely correct. However for that to become reality, you need a pro-business administration who understands econ 101. Tax on any productive business is rewarding the non-productive via confiscation of money from the productive. It rewards failure and punishes success. Sadly, that is where we are at now. We are now on path to make our corporations less competitive in the world economy. We already have highest corporate tax rates amongst industrialized countries.
Posted 08 March 2009 - 10:14 PM