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Mike Bloomberg’s proposed Wall Street transaction tax explained


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#1 .Blizzard

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Posted 19 February 2020 - 05:48 AM

The end of day trading

 

70 bucks to daytrade 1 mini S&P!!!!

 

Points

  • Among Bloomberg’s proposed Wall Street reforms is a 0.1% tax on all financial transactions, including stocks, bonds and payments on derivate contracts.
  • The tax would be phased in over time, scaling up from 0.02% “to monitor and minimize any unintended consequences.”
  • The idea moves Bloomberg closer to other progressive candidates like Vermont Sen. Bernie Sanders, who has for years championed a similar tax.
  • Some, including the U.S. Chamber of Commerce, argue that transaction taxes are regressive, driving up the amount everyday investors pay on their retirement savings.

 

 

https://www.cnbc.com...cks-trades.html

 

 


 
 
 


#2 OEXCHAOS

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Posted 19 February 2020 - 09:51 AM

It would absolutely kill the market and liquidity.
 


Mark S Young
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#3 Douglas

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Posted 19 February 2020 - 01:05 PM

Welcome to my world.  The UK imposes a 0.5% "duty" on the purchase of shares in the UK rounded to the nearest £5 for transactions over £1000.  

 

Regards,

Douglas


Edited by Douglas, 19 February 2020 - 01:08 PM.


#4 slupert

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Posted 19 February 2020 - 02:28 PM

The end of day trading

 

70 bucks to daytrade 1 mini S&P!!!!

 

Points

  • Among Bloomberg’s proposed Wall Street reforms is a 0.1% tax on all financial transactions, including stocks, bonds and payments on derivate contracts.
  • The tax would be phased in over time, scaling up from 0.02% “to monitor and minimize any unintended consequences.”
  • The idea moves Bloomberg closer to other progressive candidates like Vermont Sen. Bernie Sanders, who has for years championed a similar tax.
  • Some, including the U.S. Chamber of Commerce, argue that transaction taxes are regressive, driving up the amount everyday investors pay on their retirement savings.

 

 

https://www.cnbc.com...cks-trades.html

 

 

How are you arriving at this figure. (JMHO)



#5 slupert

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Posted 19 February 2020 - 02:30 PM

It would absolutely kill the market and liquidity.
 

 

.02% would, please explain. TIA



#6 OEXCHAOS

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Posted 19 February 2020 - 02:53 PM

 

It would absolutely kill the market and liquidity.
 

 

.02% would, please explain. TIA

 

Where do you think all the market's liquidity comes from? High frequency trading as well as complex arbitrage and options strategies.


Mark S Young
Wall Street Sentiment
Get a free trial here:
http://wallstreetsen...t.com/trial.htm
You can now follow me on twitter


#7 tsharp

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Posted 19 February 2020 - 03:27 PM

 

 

It would absolutely kill the market and liquidity.
 

 

.02% would, please explain. TIA

 

Where do you think all the market's liquidity comes from? High frequency trading as well as complex arbitrage and options strategies.

 

 

REPO



#8 .Blizzard

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Posted 19 February 2020 - 05:25 PM

Example:

SP future value 3400*50= 170.000$ contract value

170.000*0.02%= 34*2= 68$ round turn

Clear??

Edited by .Blizzard, 19 February 2020 - 05:25 PM.

 
 
 


#9 slupert

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Posted 19 February 2020 - 06:05 PM

 

 

It would absolutely kill the market and liquidity.
 

 

.02% would, please explain. TIA

 

Where do you think all the market's liquidity comes from? High frequency trading as well as complex arbitrage and options strategies.

 

Yep, and nothing but air underneath, remember the flash crash. Fortunately high frequency trading is down 10% in the last 10 years. The first decade of this millennium, saw a departure from the efficient frontier, buy an hold didn't work any more, with CB driven markets we are back to the efficient frontier. There was enough liquidity before for me to do what I had to do, these machines can actually see patterns developing and their algorithms  deploy a response in milliseconds, I can do without them. (JMHO)



#10 tommyt

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Posted 19 February 2020 - 08:12 PM

Every new nice decline in the future has to give something the blame...and each time its something new, cause folks are looking at the 

previous ones :-)