Our Economy Could Be In Surplus In Less Than A Year With A 1% Wall Street Sales Tax

reply to post by peck420


Only a small portion, or whatever you yourself feel comfortably willing to lose, should ever be risked day trading.

reply to post by wildtimes

neo, what is your point? Are you FOR Wall Street profiteering? Or against it?

I don't give a rats behind of what Wall Street does or how much they make the same people who are going around wanting to tax them are the same people who make fiat currency.

Governmett prints money Wall street makes it Congressman blow it.

Originally posted by Kali74
reply to post by peck420

 

Only a small portion, or whatever you yourself feel comfortably willing to lose, should ever be risked day trading.

Do you have the physical stock certificates for every stock in your 401(k)?

If you don't, it can, and will, move without your knowledge or consent.

Edit to add:
Much like a mortgage, you can 'own' the title without controlling the movement of the actual mortgage.

reply to post by ThirdEyeofHorus

The Progressives do not want a flat tax because it does not fit into their Socialist redistribution schemes.

WHAT?!!! Of course they do! They want the loopholes closed so that the rich can't hide their money in the Cayman Islands and then run for President!

The rich are masters at hiding money, at evading taxes - by sending jobs to the East at the expense of Americans who are just as well able, but want a decent compensation.

Oh my. I don't even know what to say about your thinking. Oh my.

Originally posted by Kali74
reply to post by neo96

 

How isn't it equal rights when you're saying yourself that most "Amerikans" are in Wall Street?

Considering how oblivious most Amerikans are they are under the assumption they have nothing to do with Wall Street where they clearly do.

Most normal people would not support taking money out of their own pockets, and here we are " Wall Street is evil make them pay".

Originally posted by Kali74
reply to post by peck420

 

Only a small portion, or whatever you yourself feel comfortably willing to lose, should ever be risked day trading.

That is not the point. It is our own free will to risk whatever we wish, and not the right of govt to take more and more from us because they cannot control their own spending.

All these should and shouldn'ts from the Statists.

Just like Bloomberg telling us not to have Big Gulps or taxing cigarettes because they are bad for us. It's just more greed from a greedy Statist Big Govt.

Radicals hate the greed of Capitalists but somehow excuse the greed of Big Govt Statists who are skimming right off the top of the public coffers.

reply to post by neo96


Okay, so you're anti-big-government. I see.
Thanks for clarifying.

reply to post by peck420


You absolutely can dictate how your money is invested.
All it takes is a phone call.

Originally posted by Kali74
reply to post by peck420

 

You absolutely can dictate how your money is invested.
All it takes is a phone call.

Then make a phone call...and ask for your physical certificates.

There's two obvious methods that are the only logical means of putting federal budget in the black:

1. Federal government stays out of programs that aren't in their charter.
2. Responsible spending by congress.

Period.

Originally posted by wildtimes
reply to post by neo96

 

Okay, so you're anti-big-government. I see.
Thanks for clarifying.

Actually If I supported raising taxes on the middle class or poor I would be labeled as fascist but somehow raising taxes on the evil rich and corporations ie Wall Street isn't,.

I see no solutions from the people who created the majority of problems we all face.

reply to post by neo96


Neither do I. It's a mess.
I'm one of those people who would happily just retreat from all of it, live off of the land, subsistence-style, and be immersed in nature, if I could afford to do it. This money-focused society really sickens me.

reply to post by ThirdEyeofHorus


Cool, I guess you're saying status quo is better. Property tax is better, income tax is better, sales tax is better. Am I right?

I mean for capital to move we do need roads, bridges... for a healthy society we need schools and so on. The idea of no taxes is, to be frank, retarded. It's impossible. Unless you're suggesting that everything becomes privatized, in which case you can assume to run into problems like this:

A driver hit me with his car and he didn't have liability insurance, so I'll be spending the rest of my life paying medical bills and lawsuit costs. I'm not sure how to find out where he works so I can boycott his business and force a correction of his behavior.

Anyway, I don't like Big Government anymore than you do though you keep trying to correct me on my ideals as if you somehow know me better than I know myself, but imagine the bureaucracy we cut. You claim I'm a Statist yet it seems you are the one supporting the State, while I'm looking for ways to shrink it.

Originally posted by Kali74
reply to post by peck420

 

You absolutely can dictate how your money is invested.
All it takes is a phone call.

And yet you are advocating a transaction tax which one cannot control? More Statism.

reply to post by macman


Well, some are. I mean -- that's the goal of all this BS: to progressively push a greater majority of the ownership of real things into the pockets of a shrinking set of investor hands.

That's why the world's total "debt" is 7 or 8 times greater than its total economic output.

The most progressive idea in the entire world is that - somehow - it all belongs to a shrinking group of insiders. And we can't even fight it, because we no longer have words to describe it. Just this "socialism / capitalism / socialism" meme, which doesn't even begin to describe the actual cost of letting the wealthiest bankers appoint "democratically elected representatives" to ensure they get to keep what they have + a little extra, every single iteration.

Considering how much the average person pays in taxes on top of their income taxes, with sales taxes, why should market speculators pay sales taxes as well.

Maybe it will discourage marker speculation that seeks to make money without contributing to the markets.

I'm all for taxing market transactions.

reply to post by Kali74

Property tax is better, income tax is better, sales tax is better. Am I right?

What you are advocating is over and beyond property taxes. What do you think that somehow the Statists will abolish your property tax and then make Warren Buffet pay for your kids schools? uh uhnnnnn That couple down the street whose kids are grown and in college will be paying for it.

Originally posted by peck420


That would be far more than 1% of your total 401k value. Most of the investments and sub investments inside your 401k are getting traded hundreds of times per day.

This is true, however, mutual funds are invested in by many many people, including people who are not in a 401(k). Transaction fees are already worked in and applied across everyone, and yet, people still make money on mutual funds. We're just talking about raising those fees a little across the board, spread out amongst many many people.

reply to post by Kali74

I mean for capital to move we do need roads, bridges... for a healthy society we need schools and so on.

So tell me the logic of taking money from one state and moving it to another state where the money was taken from and the people it was taken from get no benefit from it?

Roads and bridges,schools are local issues they always have been.

The idea of no taxes is, to be frank, retarded

The idea of robbing peter to pay paul to be frank is retarded who has made a nation of paupers which is the status quo or as I and others like to say considering it is true:

Redistributing wealth taking from the "so called greedy" to give to the so called "needy" where areas with the highest population will take the most wealth,cost the most wealth, and take decades to complete.

Originally posted by kaylaluv
This is true, however, mutual funds are invested in by many many people, including people who are not in a 401(k). Transaction fees are already worked in and applied across everyone, and yet, people still make money on mutual funds. We're just talking about raising those fees a little across the board, spread out amongst many many people.

I have grave concerns that since the shift of value trading to volume trading, even a marginal tax, will cause a drastic reduction in volume.

That reduction in volume would inevitably lead to a collapse of the NYSE, as they would lose a great deal of their competitiveness in relation to other global markets.

If the tax was applied to all markets, equally...then maybe, but it still runs into the volume/value trade paradigm.

I don't know if the market is actually able to revert back any more.