Posted on 01/22/2021 5:25:22 AM PST by Red Badger
I know two millionaires. Neither one of them is in ‘The Market’......... Real estate is their game.....................
...and every night the men would come around...and lay their money down.
I'm guessing that tax will also be on top of whatever capital gains they already have to pay......I'm sure those capital gains taxes are "no value" because people who came up with legal means to make a profit must be parasites.
I guess I missed the part in the tax code that if you made money quick enough it wasn't taxed and you were somehow exempt from capital gains.
I also didn't realize that coming up with new taxes on making money and building wealth was a conservative principle........
This gave access to the market for thousands of people who were previously priced out because they couldn't afford the commissions - every time they bought or sold stock. Now they'll get to pay Uncle Stupid for the privilege.
There is a book out that basically claims that a difference of a few miles of fiber optic cable can give traders an advantage—and we’re talking the speed of light here. That’s how fast the trades are happening.
“Wealth Tax”
Defazio's bill is a perfect example of how Democrats shake down industries for more donations.
Plenty of conservatives like taxes as an instrument of social engineering and justice, particularly if they feel they are taxed in a way you aren’t. Then, new taxes, because, you know, “fairness.”
“There is a book out that basically claims that a difference of a few miles of fiber optic cable can give traders an advantage—and we’re talking the speed of light here. That’s how fast the trades are happening.”
I know, I’ve heard of that also. I suspect most people don’t know about it, and also don’t know how much 0.1% will actually cost them.
Well Wall Street you got what you wished.
Now swallow.🙄
Soon.😝
By raising the cost of the transactions by increasing the tax, only the big fish who can trade in much bigger blocks of shares are left in the game.
This is much like so-called campaign finance reform. It sounds really nice on the surface until you figure out that it is designed to help the swamp which has sympathetic media outlets backing them and doesn't need to buy campaign time as much.
For which the tax changes nothing. In my non professional opinion you’re talking about front running which has been illegal for decades. Yes, milliseconds, but frontrunning. On proprietary information. Should be an enforcement issue, and I agree it would have been nice if President Trump had addressed it.
“The Flash Boys” by the same guy that wrote Moneyball.
“The Flash Boys” by the same guy that wrote Moneyball.
10% for the big guy. Don’t forget that.
A lot of financial institutions and liberals are going to ‘take it in the shorts’ when AOC and Pocahontas et al. start pushing the legislation.
So what’s to stop Charles Schwab customers trading thru London, Tokyo or Singapore markets ?
Zey have zere vays........................
Some people just like taxes because they're jealous of ingenuity and capacity to turn a profit. They go through life upset they're not the smartest, the fastest, or the richest. Their wives aren't the prettiest, their car sucks, and they live in some dead end job they hate and they can't understand or fathom why they got where they are in life.
People who learned how to apply themselves and take bold risks are "rotters," spoilers," and "parasites."
Taxes are a way of taking those "spoilers" and "parasites" 'down a peg.'
You know these types - blow out someone else's candle to make their own look brighter.
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