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Thread: Democrats push $150B stock tax on Wall Street

  1. #11
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    Re: Democrats push $150B stock tax on Wall Street

    Quote Originally Posted by obvious Child View Post
    Actually that's not inherently correct. We don't know if the tax is on the gross proceeds or net.
    Total value of the security:

    ‘SEC. 4475. TAX ON SECURITIES TRANSACTIONS.

    ‘(a) Imposition of Tax- There is hereby imposed a tax on each covered securities transaction an amount equal to the applicable percentage of the value of the security involved in such transaction.
    Read The Bill: H.R. 1068 - GovTrack.us

    Quote Originally Posted by Vader View Post
    Yes, I know the idea of the right being forced to pay for what it has done is hard for Republicans to accept.

    The right did the crime and now they can pay for it.
    What "crime"? Jesus ****ing christ.

    If you don't have the slightest idea what's going on, why bother posting in the thread?
    People sleep peaceably in their beds at night only because rough men stand ready to do violence on their behalf.

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    Re: Democrats push $150B stock tax on Wall Street

    Quote Originally Posted by RightinNYC View Post
    Total value of the security:

    Read The Bill: H.R. 1068 - GovTrack.us
    What "crime"? Jesus ****ing christ.

    If you don't have the slightest idea what's going on and will add nothing of value to the debate, why bother posting in the thread?

    Republican greed caused this economy. That bill aims to force the greedy to pay for the restoration of the economy.

    I know you rightwingers hate being held responsible for your illicit actions.. but too bad.

    You people did this and you can pay to fix it.

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    Re: Democrats push $150B stock tax on Wall Street

    What I want to know is where are all the liberals and libertarians that whined and whined when "The USA PATRIOT ACT" was put forward because it was given such a "propogandized" name and that it'd imply "voting against it means you're voting against being a Patriot" and how legislation shouldn't have its names be used as a means of selling it.

    Cause you know...“Let Wall Street Pay for the Restoration of Main Street Act of 2009.”....isn't poloraizing, propoganda-esque, or hoping to use the name as a means of selling it at all.

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    Re: Democrats push $150B stock tax on Wall Street

    Quote Originally Posted by Vader View Post
    Republican greed caused this economy. That bill aims to force the greedy to pay for the restoration of the economy.

    I know you rightwingers hate being held responsible for your illicit actions.. but too bad.

    You people did this and you can pay to fix it.
    You are kidding.....are you not?

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    Re: Democrats push $150B stock tax on Wall Street

    Quote Originally Posted by RightinNYC View Post
    I don't understand how this could do anything other than make the market more illiquid. It will reduce trading volume and increase transaction costs.
    Not necessarily. When the tax is being paid back to investors who then blow it back it using premiums paid on debt, we may get a cycle that increases the speed of money. That can't help but make liquidity go up. Remember that debt holdings are rather illiquid. Converting them into cash frees up that problem. While it will increase transaction cost, 0.25% isn't that much, especially if it's on net rather than gross. And to pay down debt requires significant premium payments for early recall. Some institutions may end up better off under this if all of its goes towards debt repayment.

    It's $150b being taken out of the pockets of investors. That's massive however you look at it.
    Not when dollar value of daily transactions are into the trillions. $150 billion a year when every day $500 billion is traded is pretty minuscule.

    And the tax on your investment adds up to 5% after just 10 round trip trades in a year.
    Which is true. However, that would promote long term holdings. In a way, the Federal Government would use tax as a social engineering to prop up the stock market. Note I'm not condoning not condemning this. Just noting an observation. And how many people buy and sell a single stock 5 times a year? And if you were going to do that anyways, an actual 5% would end up being..well, you get the point.

    What I'm getting at is that it's easy to say "oh, just 0.25%, that's no big deal." The fact is that it will cost $150b/year. That is a big deal however you look at it.

    To put it in perspective, that's about 1/6th as much money as is collected by the federal income tax.
    Perhaps, but you are looking at it in only one way. What are the benefits of debt reduction and putting more money into the hands of debt holders? Not to mention the reduction in debt servicing over time. Furthermore, think of the dollar. Debt reduction should cause it to rise.
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

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    Re: Democrats push $150B stock tax on Wall Street

    Quote Originally Posted by RightinNYC View Post
    Total value of the security:

    Read The Bill: H.R. 1068 - GovTrack.us
    That appears to be current market value. That's going to kill many future and options. Imagine the impact on currency futures. Imagine the impact upon future and options for commodities where the margin is less then 1%.
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

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    Re: Democrats push $150B stock tax on Wall Street

    Quote Originally Posted by Jackboot View Post
    You are kidding.....are you not?
    Sadly...no

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    Re: Democrats push $150B stock tax on Wall Street

    Quote Originally Posted by Zyphlin View Post
    Sadly...no
    I click on two threads, and two absurd posts by the same person, I think I got it now.

    I am really quick that way.

    I will only state the obvious, greed and irresponsibility, knows no party, no country, no bounds.

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    Re: Democrats push $150B stock tax on Wall Street

    Dont look at it as a tax.. look as it as payment for bailing their asses out..
    PeteEU

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    Re: Democrats push $150B stock tax on Wall Street

    Quote Originally Posted by Redress View Post
    On a 100,000 dollar stock sale, it would be 250 dollars. That is exactly as big as it seems to be.
    The only problem with that, is that today it will $250. Tomorrow, some genius will think it needs to be raised to a $1,000, then $5,000. You get the picture, I'm sure.

    Bottom line, however, 250 bucks is 250 bucks. It has the same value to you as it does to anyone else.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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