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1. How is it stealing? By not waiting for the stock to appreciate like the rest of the investors. By using super-computers to do billions of buys/sells in nanoseconds and stealing $100's of millions of stock value from long term investors. That's how.
2. The steps are described in detail in the article, by buying/selling stock in nanoseconds. A minimal tax would make that unprofitable.
3. Yes they did steal from your shares, who the fuck do you think they took their profit from? (all investors)
4. Point being that Bernie's proposal kills two birds, it funds higher education and job training, and helps stock investors by stopping high speed computer traders
How is it stealing? By not waiting for the stock to appreciate like the rest of the investors.
I can sell my stock 5 years after I buy it, 5 minutes after, 5 microseconds after.
None of those options steals a penny from you.
By using super-computers to do billions of buys/sells in nanoseconds and stealing $100's of millions of stock value from long term investors.
You still haven't shown how the speed of their computers steals a penny from me.
Or walked me through a typical trade. How do they "skim". Or don't you know?
A minimal tax would make that unprofitable.
And wouldn't do a thing to help me or my QQQs.
Yes they did steal from your shares, who the fuck do you think they took their profit from?
You're lying, because a soundbite is easier than proof.
Point being that Bernie's proposal kills two birds, it funds higher education and job training
You never said how much this tax would raise for the government.
and helps stock investors by stopping high speed computer traders
Since I'm not competing against these traders and held my position for years, they don't help or hurt me.
How is it stealing? By not waiting for the stock to appreciate like the rest of the investors.
I can sell my stock 5 years after I buy it, 5 minutes after, 5 microseconds after. None of those options steals a penny from you.
I agree for the 5-years, but not the 5-minutes or 5-microseconds. The purpose of the stock market is to give capital to companies to grow and generate more profit. The short term high-speed traders don't add value, they steal investment capital.
By using super-computers to do billions of buys/sells in nanoseconds and stealing $100's of millions of stock value from long term investors. You still haven't shown how the speed of their computers steals a penny from me. Or walked me through a typical trade. How do they "skim". Or don't you know? If you don't understand the bold answer above, you need to do your own research on high-speed trading.
A minimal transaction tax would make high-speed trading unprofitable. And wouldn't do a thing to help me or my QQQs.
A minimal transaction tax would prevent the high-speed traders from robbing you blind. DUH.
Yes they did steal from your shares, who the fuck do you think they took their profit from? You're lying, because a soundbite is easier than proof. Denial is not a refutation. Who do you think they stole the money from? (ans: investors)
You never said how much this tax would raise for the government. The transaction tax should raise about $200b a year.
Bernie Sanders: I Will Cancel All $1.6 Trillion Of Your Student Loan Debt
"Sanders will fund his student loan forgiveness plan through a new tax on financial transactions, which he expects could raise more than $2 trillion over the next 10 years. The tax plan will include a 0.5% fee on all stock trades, a 0.1% fee on all bond trades and a 0.005% fee on all derivatives trades."
Since I'm not competing against these traders and held my position for years, they don't help or hurt me.
If they steal hundreds of millions of dollars in stock value, they are taking some of your money. They don't add value, they don't invest, they skim money using super-computers, DUH.
The short term high-speed traders don't add value, they steal investment capital.
First they stole from me, now they steal from the stock issuer?
By using super-computers to do billions of buys/sells in nanoseconds and stealing $100's of millions of stock value from long term investors.
From your Mother Jones article.....
Designed by the physics nerds and math geniuses known as quants, these programs exploit minute movements and long-term patterns in the markets, buying a stock at $1.00 and selling it at $1.0001, for example.
How did the above example steal stock value from my long-term position?
If you don't understand the bold answer above
No info in your "answer".
A minimal transaction tax would prevent the high-speed traders from robbing you blind.
Still no evidence I've been robbed.
Denial is not a refutation.
Your soundbite isn't evidence
Who do you think they stole the money from?
Still waiting for proof they stole from anyone.
which he expects could raise more than $2 trillion over the next 10 years.
Expects? He expects $200 billion a year?
Expectations from someone who never held a private sector job? LOL!
Goldman made about $32 billion last year.
Morgan Stanley about $8 billion.
JPM about $104 billion.
Bank of America about $89 billion.
Blackstone Group about $6 billion
5 of the largest firms out there, feel free to add any I didn't list, and their combined profits
were about $240 billion. And this moronic tax is going to raise $200 billion? LOL!
The tax plan will include a 0.5% fee on all stock trades
Again, from your article.
buying a stock at $1.00 and selling it at $1.0001, for example.
Taxing the buy and the sale at $0.005 prevents either trade from occurring.
Total tax collected, zero.
If they steal hundreds of millions of dollars in stock value, they are taking some of your money.
Fucking prove it already. Repeating your fact free claim isn't proof.
From your Mother Jones article.....Designed by the physics nerds and math geniuses known as quants, these programs exploit minute movements and long-term patterns in the markets, buying a stock at $1.00 and selling it at $1.0001, for example.
How did the above example steal stock value from my long-term position? Any money that they skimmed lowered your stock's price/value. They did not provide any investment capital, yet took profit. That to me is equivalent to stealing from long term investors.
which Bernie expects to raise more than $2 trillion over the next 10 years.
5 of the largest firms out there, feel free to add any I didn't list, and their combined profits
were about $240 billion. And this moronic tax is going to raise $200 billion? LOL!
U.S. stock trading volume hit a three-year low in 2017 amid near-absent volatility
Average "low" trading volume per day is 6.5b shares x average stock price of $40/sh x 0.005 tax = $1.3b per day just for stocks
The transactions are measured on stocks, bonds, options contracts, futures contracts, derivatives, and commodities.
Lots of money generated even if the volume slows due to the tax.
The tax plan will include a 0.5% fee on all stock trades
Again, from your article. buying a stock at $1.00 and selling it at $1.0001, for example.
Taxing the buy and the sale at $0.005 prevents either trade from occurring.
Total tax collected, zero.
OMG, the $1.00 stock price was just an example. See tax calculation above.
Any money that they skimmed lowered your stock's price/value.
Ummm….the bid/ask spread was $0.999/$1.001
They traded at $1.00 and $1.0001 instead. How did they lower my stock price?
That to me is equivalent to stealing from long term investors.
Yes, I've noticed your ignorance of markets.
Average "low" trading volume per day is 6.5b shares x average stock price of $40/sh x 0.005 tax = $1.3b per day just for stocks
Because a $1.3 billion a day tax will have no impact on trading.....thanks, I was looking for proof of your idiocy.
OMG, the $1.00 stock price was just an example. See tax calculation above.
Ok. $40.00 per share times 100 shares a trade..... $20.00 per trade.
$20.00 per trade times zero trades.....yup, still zero tax collected.
How did they lower my stock price?
ANY money the High-Frequency traders skimmed off the stock market is money that should have added to the value of stocks. You're apparently to stupid to know when you're being scammed. I'm bummed that the SEC allows it, so the laws apparently need to be changed. A transaction tax is a good solution. Here is a list of high-frequency traders, their profit is your loss: An introduction to the HFT industry and its key players - Planet Compliance
Because a $1.3 billion a day tax will have no impact on trading.....thanks, I was looking for proof of your idiocy.
That tax will be offset by a reduction in high-frequency trading and better stock appreciation. If it didn't work all over the world you might have an argument. Financial transaction tax - Wikipedia
Revenue Estimate for US Financial Transaction Tax
Tax base Tax rate Revenue estimate (US$ billion)
US stocks/equities .5% 108–217
US bonds .02% 26–52
US forex spot .01% 8–16
US futures .02% 7–14
US options .5% 4–8
US swaps .015% 23–46
US total 177–354 (US$ billion)
$20.00 per trade times zero trades.....yup, still zero tax collected
Why times zero trades? A round trip buy/sell nets $40 in tax. For long term investors like you and me its nothing, but for those that buy/sell frequently it could affect their profit margin slightly. It would absolutely hammer high-frequency traders.