posted on Apr, 24 2014 @ 01:46 PM
originally posted by: o0oTOPCATo0o
a reply to: JohnnySasaki
Are you still talking about capitol gains tax with your 25%-36%?
I'm not sure you get what I am saying.
You should go to the United Front Against Austerity website and read their Wall Street Tax page. They explain the idea pretty well there.
I understand completely what you're saying, I don't think you understand what I'M saying. For every dollar that is traded on the stock market, the
united states government get's it's share, and it's upwards of 25-36%. Yes, it's capital gains tax, but does it really matter what they call it? Every
time a transaction is made, someone on either end, made money, and therefor has to pay a tax on it. It's a fairly high tax too, as I explained fairly
clearly earlier. So now explain to me, how taxing us an extra 1% is going to suddenly solve all our problems, when the 25-36% isn't cutting it as it
What's more, that 4 quadrillion number would significantly decrease, and the stock market, which is already headed for a correction (aka, it's about
to go down, probably by a lot), would plummet if people knew that they were already at a 2% loss plus transaction fees just by putting their money
into the markets (1% for the transaction to get your money in, and another 1% to get your money out). So to make any money in the markets, you'd have
to at LEAST average 3% or more on every single transaction you make, which is extremely hard btw, and even then you'd just be barely making a profit.
I would love it though, just let me know when you're going to implement it, and I'll buy as many put options on the SPX as they'll let me, lol.
edit on 24-4-2014 by JohnnySasaki because: (no reason given)
edit on 24-4-2014 by JohnnySasaki because: (no reason