Tax Wall Street Speculators

[kyzr]

Thinking who to tax and how to tax to raise revenue and yet be a net positive to the overall economy and job creation.

Who supports taxing the Wall Street speculators and computer traders that do not raise capital or create jobs, or pay taxes for that matter.

 

[asterism]

Thinking who to tax and how to tax to raise revenue and yet be a net positive to the overall economy and job creation.

Who supports taxing the Wall Street speculators and computer traders that do not raise capital or create jobs, or pay taxes for that matter.

A liquid market is pretty necessary for an accurate capital base. Do you remember the days when one had to use a live broker trading shares in manual paper? It was quite expensive.

 

[Robert]

Hmm the most important one was left out of the poll

Cut Spending across the board

 

[PLYMCO_PILGRIM]

i voted other.

I say no new taxes but change the tax code so they can't write off any gambling, I mean investment, losses.

 

[expat_panama]

...taxing the Wall Street speculators and computer traders that do not raise capital or create jobs, or pay taxes for that matter.

Hey NEAT! Solve everything by picking some group and making up bad stuff about them. I vote for taxing owners of bars that play loud music that do not raise capital or create jobs, or pay taxes for that matter.

Naw, just saying it doesn't make it true, not for stock traders not for bar owners.

 

[expat_panama]

...remember the days when one had to use a live broker trading shares in manual paper? It was quite expensive.

So what was so bad about those days. I mean, other than double digit inflation, double digit unemployment, the Soviet missile threat, and disco.

 

[kyzr]

...remember the days when one had to use a live broker trading shares in manual paper? It was quite expensive.

So what was so bad about those days. I mean, other than double digit inflation, double digit unemployment, the Soviet missile threat, and disco.

How about the days when AIG et. al. speculated in derivatives and tore up $trillions in losses that they couldn't cover. How about the oil spike a few years ago, that did no good for anyone? Just some kids playing with derivatives.

IMHO if they don't do anything that helps create jobs, tax the piss out of them.

 

[Toro]

I vote no tax on speculators.

It's a bad idea.

 

[boedicca]

I vote no tax on speculators.

It's a bad idea.

I agree. Most are already subject to short term capital gains taxes (which are the same as income taxes).

 

[Cuyo]

Meeehhhh... I don't like it. They're already taxed if they make money. I'd rather see that income treated as regular income (subject to regular income tax, eg Schedule E, on line 17 of your return rather than 13) before any of the kabuki options listed.

 

[kiwiman127]

Speculators are who is driving up the cost of food and oil, just like they did in 2008.
Their greed hurts everyone, from the commuter, to businesses, to the typical American family.
Fuck them and tax the living shit out of them.

 

[Flopper]

I'm not sure what the purpose of these taxes would be. Do we want to punish people for buying and selling investments? I don't think so. Or is the purpose to raise revenue? These taxes would not be enough to even make a small dent in the deficit. Wall Street has enough politicians in their pocket to insure it would never pass.

 

[kyzr]

I'm not sure what the purpose of these taxes would be. Do we want to punish people for buying and selling investments? I don't think so. Or is the purpose to raise revenue? These taxes would not be enough to even make a small dent in the deficit. Wall Street has enough politicians in their pocket to insure it would never pass.

1. There would be Tax Cuts for long-term capital gains, where investors buy stock in companies who hire people and buy US equipment. This is how we should want the stock market to work, to raise long-term capital.

2. The opposite, are micro-second computer traders, short-sellers, derivative traders, commodity speculators, options traders, day-traders, currency traders, all of the other investment schemes that do not help companies raise long-term capital ''SHOULD BE TAXED HEAVILY".

 

[Meister]

I agree fully in what Toro, and Boe posted. It's not free money to the investor, it's taxed as a short term capital gain.
Start legislating in that area of the market and it could open up a can worms.

 

[KissMy]

Taxing American Markets means stock & commodities will be traded on foreign exchanges where we have no control. It will send all the high paying Wallstreet jobs out of the USA so you will not collect a dime in taxes from the rich. Is that what you want to do?

 

[asterism]

Speculators are who is driving up the cost of food and oil, just like they did in 2008.
Their greed hurts everyone, from the commuter, to businesses, to the typical American family.
Fuck them and tax the living shit out of them.

Speculators also drove the market for oil and food when prices were falling thereby making food and oil available. Seems people forget that part of the equation.

 

[asterism]

I'm not sure what the purpose of these taxes would be. Do we want to punish people for buying and selling investments? I don't think so. Or is the purpose to raise revenue? These taxes would not be enough to even make a small dent in the deficit. Wall Street has enough politicians in their pocket to insure it would never pass.

Sounds to me like the goal is to manipulate behavior through the tax code. Not a very bright idea for raising revenue.

 

[Flopper]

I'm not sure what the purpose of these taxes would be. Do we want to punish people for buying and selling investments? I don't think so. Or is the purpose to raise revenue? These taxes would not be enough to even make a small dent in the deficit. Wall Street has enough politicians in their pocket to insure it would never pass.

1. There would be Tax Cuts for long-term capital gains, where investors buy stock in companies who hire people and buy US equipment. This is how we should want the stock market to work, to raise long-term capital.

2. The opposite, are micro-second computer traders, short-sellers, derivative traders, commodity speculators, options traders, day-traders, currency traders, all of the other investment schemes that do not help companies raise long-term capital ''SHOULD BE TAXED HEAVILY".

In item 1, I think we both want to accomplish the same thing, reward investors whose investments benefit the US economy. However, I don’t think capital gains are the best place to do it. Most capital gains on security transactions do very little to create jobs or facilitate the purchase of US made goods. Most stock transactions do not directly provide funds to the company and thus do little for the economy. With Initial Public Offerings, Secondary Stock issues, and New issue Corporate Bonds the company receives the funds unlike normal security transactions. Investors that make these types of investments should be rewarded as long as the funds are being used to create jobs and benefit our economy.

We also need to close the loopholes in corporate taxes that allow companies to take tax write-offs for shipping jobs overseas.

 

[uscitizen]

All personal income should be taxed the same.

 

[kyzr]

1. There would be Tax Cuts for long-term capital gains, where investors buy stock in companies who hire people and buy US equipment. This is how we should want the stock market to work, to raise long-term capital.

2. The opposite, are micro-second computer traders, short-sellers, derivative traders, commodity speculators, options traders, day-traders, currency traders, all of the other investment schemes that do not help companies raise long-term capital ''SHOULD BE TAXED HEAVILY".

In item 1, I think we both want to accomplish the same thing, reward investors whose investments benefit the US economy. However, I don’t think capital gains are the best place to do it. Most capital gains on security transactions do very little to create jobs or facilitate the purchase of US made goods. Most stock transactions do not directly provide funds to the company and thus do little for the economy. With Initial Public Offerings, Secondary Stock issues, and New issue Corporate Bonds the company receives the funds unlike normal security transactions. Investors that make these types of investments should be rewarded as long as the funds are being used to create jobs and benefit our economy.

We also need to close the loopholes in corporate taxes that allow companies to take tax write-offs for shipping jobs overseas.

I'm basing some of my opinions on Warren Buffet's assertion that "derivatives aren't necessarily evil, but they are dangerous".

Why should we allow speculators to fuck with the economy? I'd modify their behaviors with a very strict tax policy.