patrick.net

Kill the Fed ban the IRS fuck the Liberals they get NOTHING.

Then when the poor people ask why, we'll blame the Liberals for being Greedy Cocksuckers.

The proposal is for a 0.1% tax on the amount traded.

The idea here is to stop the pure speculation/gambling aspects of computerized, high-speed stock/bond/commodities trading. This front-running is just a dead-weight loss as far as investors are concerned.

How come you can't pull no tricks in Gambling? You're not allowed to use any leverage to your advantage, like Card counting and other data points or statistical knowledge.
And if you're consistently happen to have the greatest of Luck every time you visit the Casinos. They can just outright ban you from every Casino on the strip.

Yet you can intentionally trade in stocks with malice intent to short or manipulate a commodity, even buy when you don't have any way to actually take delivery of said commodity. Just as long as you didn't violate some trivial law in the process. But mostly using dishonest loopholes that should have been closed years ago.

Like even Soros for instance short currencies just to make governments collapse. How is that not an international crime?

Everyone else is bound to Ethics laws except the investor class.

Just eliminate all welfare programs. No tax increases are necessary.

Booger says

Just eliminate all welfare programs. No tax increases are necessary.

The main purpose of the tax is to tamp down on predatory trading behavior, not to raise money.

SunnyvaleCA says

The main purpose of the tax is to tamp down on predatory trading behavior, not to raise money.

What in the fuck was the purpose of Poke Us Haunt Us the CFPB and the Dodd Frank scam?

How many fucking Mulligans do Liberals need to get something right the pathetic Losers!?

They can't do one fucking single thing RIGHT, not ONE!

Everything they fucking touch, some asshole has to come behind them and make the same fucking Law.
They get a lot of mileage out of that and their Paint Chip Eating Voting base never catches on.

SunnyvaleCA says

Booger says

Just eliminate all welfare programs. No tax increases are necessary.

The main purpose of the tax is to tamp down on predatory trading behavior, not to raise money.

Why not do both?

Booger says

Just eliminate all welfare programs.

Would this elimination only cover "social" welfare programs for individuals or would it include corporate welfare for businesses, farms, banks etc.?

Tenpoundbass says

SunnyvaleCA says

The main purpose of the tax is to tamp down on predatory trading behavior, not to raise money.

What in the fuck was the purpose of Poke Us Haunt Us the CFPB and the Dodd Frank scam?

How many fucking Mulligans do Liberals need to get something right the pathetic Losers!?

They can't do one fucking single thing RIGHT, not ONE!

Everything they fucking touch, some asshole has to come behind them and make the same fucking Law.
They get a lot of mileage out of that and their Paint Chip Eating Voting base never catches on.

Are you making some sort of point or just venting? I'm not sure.

SunnyvaleCA says

Are you making some sort of point or just venting?

Venting....instead of working. Way off the topic however I am wondering how many people are on here during the day when they are supposed to be working.

The IT department at the company I retired from monitored internet use and being on forums like this was a no-go. That being said the person caught was given the benefit of the doubt until getting terminated.

First offense - message from the IT department to the person involved.

Second offense - message from the IT department to the person involved and their immediate supervisor.

Third offense - terminated, no plea deals accepted.

If someone accidently hit a porn site etc. or forum and backed out immediately - not a problem. Extended stays, repeated visits - yyuuggee problem. They actually expect someone to produce something for the time they were on the company dime.

This was after acknowledging in writing the policy on internet use - way too many people gave up high paying 65K starting and up positions because they could not control themselves.

The financial transaction tax idea is retarded. Obviously, market-makers would have to be exempted from the tax, as otherwise a 10 cents tax per $100 traded would kill all market-makers. With such an exemption, the market place would be officially divided into two classes of traders: officially designated market-makers with tax-exemption vs. everyone else . . . talk about Feudal Privilege! The result would be less liquid market, and more market manipulation for the benefit of the big financial institutions that are market-makers, at the expense of the investing public.

On top of that, such a law would result in a mushrooming of new derivatives (trading only the final 10% of the price, for example; e.g. pricing an SP-500 derivative contract in terms of the amount above 2500, i.e. around (2775-2500)=275, instead of the current trading method of trading the whole 2775, reducing the tax by 90%; likewise, a derivative for trading Amazon stock the portion above 1500, instead of the entire 1678) and off-shore markets to bypass such a tax, rendering the market needlessly opaque and complicated/fragmented.

The front-running high-frequency trading nonsense has long been mined out in the last couple years ago. The lawmakers are about half a decade too late . . . not surprising: when HF trading was profitable, the lawmakers wanted political donations from the institutions building those HF farms and profiting from that; now that gold mine is mined out, the Wall-Street owned Democratic lawmakers want a law that kneecaps the competition to big financial institutions by having such a transaction tax on everyone else except the designated market-makers (big financial institutions).