Posted on 01/22/2021 5:25:22 AM PST by Red Badger
More loot for the thieves and liars in the District of Criminals, what could go wrong? /s
I thought wall street was a big backer for the left. How’s it going so far
““High-frequency traders front-run the market and drive up prices for individuals, pension funds and other value investors,”
Sure glad the givernment is really concerned about price increases affecting pension funds and other value investors and therefore need to step in to protect them from “high frequency traders”. And taxing transactions is just the right medicine. /s
I actually like this plan and wish Trump had done it - although I doubt it goes anywhere with the Democrats either.
With high-speed trading, they write computer programs that are actually able to see trades moving towards the markets. The programs get ahead of the trades, and they skim off of the trades.
For example, if a buy-order for 1Million shares of GM was just launched, the High Speed trading programs will go in and buy GM before the the 1M buy order makes it to the NYSE (we’re talking a handful of milliseconds here), and then the 1M buy order makes it to market, GM goes up slightly, and the High Speed trading program promptly sells GM.
Other than making a relative handful of people very rich (at the expense of others), they serve NO VALUE to this country.
“Wall street” ain’t gonna pay the tax, you will.
“DeFazio’s Wall Street Tax Act addresses the disconnect between the financial system and the real economy by reducing unproductive, dangerous, and speculative trading.”
So now the government wants to control how I play the stock market? Congratulations Wall Street, you got exactly what you paid for. Let me know how it feels when you see your pay check for $800 a week rather than $80,000.
He’s a phony left-wing populist, who has been trying this for years.
The 5 Congressional Districts in Oregon are perfectly gerrymandered, so this phony gets reelected every 2 years.
His heritage is New England liberal who hates Republicans, he’s been doing it his whole life.
Imagine this:
Computer trades happen in MICROSECONDS.
In the span of just a few seconds, millions of trades happen................................
Thieves, thieves, tramps and thieves...
Kind of like politicians, eh?
What’s the matter? Are you jealous or afraid of the competition?
““This bill is an important step in restoring the real economy for white, Black and brown working families, ...”
See the leftists on wall street were covered by bringing racial politics into the tax bill. They forgot a few colors, and forgot to use alphabetical ordering of the races. And those working families who have some money in a 401k, they’ll pay the tax too when they retire and need to sell some of their meager investments. Demonkkkraps, always looking out for the little guy.
This will get traction this time.
The information campaign has started ginning up support.
https://www.msn.com/en-us/news/politics/tackle-injustice-tax-wall-street/ar-BB1cXyV2
https://www.aol.com/finance/asian-markets-gain-hopes-biden-065343209-165230848.html
Wall Street owns the dems. This isn’t going anywhere.
But it taxes all transactions. Not surprised you like it.
If these reforms are so motivated by the love of the people, or rather, the love of *some* people at the expense of others, why are billionaires funding this dismantling of the Constitution and our rights?
Wall Street back Biden in the 2020 by a ridiculous amount of money.
Schumer will kill this proposal, if it gets that far.
“Defraudio” is a phony left-wing populist from Oregon.
If a billionaire has 10 billion and loses one, he’s still a billionaire....................
He needs to rename it , “The Make London the Financial Capital of the World Act,” because that’s exactly what it will do.
And that's a bad thing?...........................
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