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Democrats propose "transaction tax" on financial transactions. (Poll)

Do you support the new "transaction tax", and if so, what would you do with the revenue?

  • No, I'll explain why in my post

    Votes: 18 64.3%
  • Yes, to pay for free community college & job training

    Votes: 3 10.7%
  • Yes, to pay for 1/2 of 4-year college and advanced degrees

    Votes: 0 0.0%
  • Yes, to pay into the general revenue fund to pay for SS & Medicare

    Votes: 2 7.1%
  • Yes, see my post for where I'd put the $80b/yr revenue

    Votes: 5 17.9%

  • Total voters
    28

Votto

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OMG
These fuckin loons will tax orgasms if they could.
Goddamn authoritarians!
They are.

Didn't you hear?

You will find out when you get audited.
 
OP
kyzr

kyzr

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I support the proposed transaction tax. It will hit the high-speed traders more than me or other "buy and hold" investors.

How much money do these high-speed traders currently make every year?
They make too much. They do about half of the stock trades, and do nothing but steal our 401k investments.

Too much.

Your precise grasp of this issue is very convincing.

They do about half of the stock trades

And what do they do when they trade? Can you explain it?

and do nothing but steal our 401k investments.

I'm not buying and selling the stocks in my 401k every day, how do they steal from me?
From the OP:
"This (transaction tax) makes financial markets fairer and possibly less volatile. As described by Michael Lewis in Flash Boys, high frequency traders (HFTs) can earn profits by front-running other trades by micro-seconds, an activity that raises costs for legitimate traders and provides no value to society. HFTs account for roughly half all stock trades and much of their business model would be threatened by the proposed transactions tax.

If you're still not convinced, read the OP links. The transaction tax is a very good thing.
 

SassyIrishLass

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I support the proposed transaction tax. It will hit the high-speed traders more than me or other "buy and hold" investors.

How much money do these high-speed traders currently make every year?
They make too much. They do about half of the stock trades, and do nothing but steal our 401k investments.

Too much.

Your precise grasp of this issue is very convincing.

They do about half of the stock trades

And what do they do when they trade? Can you explain it?

and do nothing but steal our 401k investments.

I'm not buying and selling the stocks in my 401k every day, how do they steal from me?
From the OP:
"This (transaction tax) makes financial markets fairer and possibly less volatile. As described by Michael Lewis in Flash Boys, high frequency traders (HFTs) can earn profits by front-running other trades by micro-seconds, an activity that raises costs for legitimate traders and provides no value to society. HFTs account for roughly half all stock trades and much of their business model would be threatened by the proposed transactions tax.

If you're still not convinced, read the OP links. The transaction tax is a very good thing.

No tax is a good thing. Once government starts taxing something it never stops
 
OP
kyzr

kyzr

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I never thought that I'd ever be on the same side as Ilhan Omar, but here we are.
I support the proposed transaction tax. It will hit the high-speed traders more than me or other "buy and hold" investors.

The argument against it is that high-speed traders will just move off-shore to do their trades, fine.
They are nothing but leeches stealing our 401k investments.


"This (transaction tax) makes financial markets fairer and possibly less volatile. As described by Michael Lewis in Flash Boys, high frequency traders (HFTs) can earn profits by front-running other trades by micro-seconds, an activity that raises costs for legitimate traders and provides no value to society. HFTs account for roughly half all stock trades and much of their business model would be threatened by the proposed transactions tax.
Under current law, someone selling or buying $1,000 of stock pays just over two cents in transaction taxes. This existing fee raises over $1.5 billion per year. The proposal would add a tax of $1 to that transaction."
You can’t ever call yourself a conservative if you support government socially or financially engineering society. There’s enough taxation in this country. ENOUGH.
1. I'm not a "phony conservative", you know the coxuckers who vote for tax cuts and then borrow trillions, aka "bubble makers".
2. I support the transaction tax. The $1 per $1000 BOT/SLD will hit the high-frequency traders, not "buy and hold" investors.
3. $30T DEBT is ENOUGH.

I support the transaction tax. The $1 per $1000 BOT/SLD will hit the high-frequency traders, not "buy and hold" investors.

If I buy $1000 of stock, I won't get hit with a $1 tax?
Yes, for every $1,000 you pay $1 in tax.
So how much a year would you probably pay?
I'd pay less than $100 a year.
I don't do a lot of trades.

Yes, for every $1,000 you pay $1 in tax.

So this claim, was a lie.

The $1 per $1000 BOT/SLD will hit the high-frequency traders, not "buy and hold" investors.
OMG, $100 per year is meaningful to you? You living under a bridge somewhere?
How does that $100/yr compare to your broker fees + income taxes?
I will gladly pay $100/yr for $80b in new tax revenue.
IMHO its a net gain w/o high-frequency traders stealing our 401K investments.
 
OP
kyzr

kyzr

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I support the proposed transaction tax. It will hit the high-speed traders more than me or other "buy and hold" investors.

How much money do these high-speed traders currently make every year?
They make too much. They do about half of the stock trades, and do nothing but steal our 401k investments.

Too much.

Your precise grasp of this issue is very convincing.

They do about half of the stock trades

And what do they do when they trade? Can you explain it?

and do nothing but steal our 401k investments.

I'm not buying and selling the stocks in my 401k every day, how do they steal from me?
From the OP:
"This (transaction tax) makes financial markets fairer and possibly less volatile. As described by Michael Lewis in Flash Boys, high frequency traders (HFTs) can earn profits by front-running other trades by micro-seconds, an activity that raises costs for legitimate traders and provides no value to society. HFTs account for roughly half all stock trades and much of their business model would be threatened by the proposed transactions tax.

If you're still not convinced, read the OP links. The transaction tax is a very good thing.

No tax is a good thing. Once government starts taxing something it never stops
Don't just look at the tax, look at your 401K bump w/o high-frequency traders. Its a net benefit, not a tax.
 

Toddsterpatriot

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I support the proposed transaction tax. It will hit the high-speed traders more than me or other "buy and hold" investors.

How much money do these high-speed traders currently make every year?
They make too much. They do about half of the stock trades, and do nothing but steal our 401k investments.

Too much.

Your precise grasp of this issue is very convincing.

They do about half of the stock trades

And what do they do when they trade? Can you explain it?

and do nothing but steal our 401k investments.

I'm not buying and selling the stocks in my 401k every day, how do they steal from me?
From the OP:
"This (transaction tax) makes financial markets fairer and possibly less volatile. As described by Michael Lewis in Flash Boys, high frequency traders (HFTs) can earn profits by front-running other trades by micro-seconds, an activity that raises costs for legitimate traders and provides no value to society. HFTs account for roughly half all stock trades and much of their business model would be threatened by the proposed transactions tax.

If you're still not convinced, read the OP links. The transaction tax is a very good thing.


As described by Michael Lewis in Flash Boys, high frequency traders (HFTs) can earn profits by front-running other trades by micro-seconds, an activity that raises costs for legitimate traders and provides no value to society.


That drama queen? He's funny!

Ok, TSLA is trading at $711.15-Bid $711.19-Offer.
I try to buy 100 shares at $711.19.....how does an HFT swoop in and steal my money? Any idea?
 

SassyIrishLass

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I support the proposed transaction tax. It will hit the high-speed traders more than me or other "buy and hold" investors.

How much money do these high-speed traders currently make every year?
They make too much. They do about half of the stock trades, and do nothing but steal our 401k investments.

Too much.

Your precise grasp of this issue is very convincing.

They do about half of the stock trades

And what do they do when they trade? Can you explain it?

and do nothing but steal our 401k investments.

I'm not buying and selling the stocks in my 401k every day, how do they steal from me?
From the OP:
"This (transaction tax) makes financial markets fairer and possibly less volatile. As described by Michael Lewis in Flash Boys, high frequency traders (HFTs) can earn profits by front-running other trades by micro-seconds, an activity that raises costs for legitimate traders and provides no value to society. HFTs account for roughly half all stock trades and much of their business model would be threatened by the proposed transactions tax.

If you're still not convinced, read the OP links. The transaction tax is a very good thing.

No tax is a good thing. Once government starts taxing something it never stops
Don't just look at the tax, look at your 401K bump w/o high-frequency traders. Its a benefit, not a tax.

Sorry I'm anti taxation
 

Toddsterpatriot

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I never thought that I'd ever be on the same side as Ilhan Omar, but here we are.
I support the proposed transaction tax. It will hit the high-speed traders more than me or other "buy and hold" investors.

The argument against it is that high-speed traders will just move off-shore to do their trades, fine.
They are nothing but leeches stealing our 401k investments.


"This (transaction tax) makes financial markets fairer and possibly less volatile. As described by Michael Lewis in Flash Boys, high frequency traders (HFTs) can earn profits by front-running other trades by micro-seconds, an activity that raises costs for legitimate traders and provides no value to society. HFTs account for roughly half all stock trades and much of their business model would be threatened by the proposed transactions tax.
Under current law, someone selling or buying $1,000 of stock pays just over two cents in transaction taxes. This existing fee raises over $1.5 billion per year. The proposal would add a tax of $1 to that transaction."
You can’t ever call yourself a conservative if you support government socially or financially engineering society. There’s enough taxation in this country. ENOUGH.
1. I'm not a "phony conservative", you know the coxuckers who vote for tax cuts and then borrow trillions, aka "bubble makers".
2. I support the transaction tax. The $1 per $1000 BOT/SLD will hit the high-frequency traders, not "buy and hold" investors.
3. $30T DEBT is ENOUGH.

I support the transaction tax. The $1 per $1000 BOT/SLD will hit the high-frequency traders, not "buy and hold" investors.

If I buy $1000 of stock, I won't get hit with a $1 tax?
Yes, for every $1,000 you pay $1 in tax.
So how much a year would you probably pay?
I'd pay less than $100 a year.
I don't do a lot of trades.

Yes, for every $1,000 you pay $1 in tax.

So this claim, was a lie.

The $1 per $1000 BOT/SLD will hit the high-frequency traders, not "buy and hold" investors.
OMG, $100 per year is meaningful to you? You living under a bridge somewhere?
How does that $100/yr compare to your broker fees + income taxes?
I will gladly pay $100/yr for $80b in new tax revenue.
IMHO its a net gain w/o high-frequency traders stealing our 401K investments.

OMG, $100 per year is meaningful to you?

Only in the context that you said it wouldn't hit me. So you lied.

How does that $100/yr compare to your broker fees

Well, my broker fees are currently $0

I will gladly pay $100/yr for $80b in new tax revenue.

If you think it would raise $80b in new revenue.......I've got some bad news for you.
Did you ever find out how much the HFT firms make every year?
 

LeftofLeft

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I agree

Right now the super wealthy are only taxed on their income. They are clever enough not to claim income. We cannot touch their wealth.
A small fee on transactions (like a sales tax) will open up their wealth to taxation

most of the liberal wealthy elite make their money off transaction investments and don’t get hit with income tax. Better get sign off from them.
 

rightwinger

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I agree

Right now the super wealthy are only taxed on their income. They are clever enough not to claim income. We cannot touch their wealth.
A small fee on transactions (like a sales tax) will open up their wealth to taxation
So you want to add an additional tax on the 401Ks and IRAs?

Yeah that's great for the working folks

A small fee wouldn’t hurt.
Neither would exempting retirement funds
 

rightwinger

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I agree

Right now the super wealthy are only taxed on their income. They are clever enough not to claim income. We cannot touch their wealth.
A small fee on transactions (like a sales tax) will open up their wealth to taxation

most of the liberal wealthy elite make their money off transaction investments and don’t get hit with income tax. Better get sign off from them.
Works for me
 

Blues Man

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I agree

Right now the super wealthy are only taxed on their income. They are clever enough not to claim income. We cannot touch their wealth.
A small fee on transactions (like a sales tax) will open up their wealth to taxation
So you want to add an additional tax on the 401Ks and IRAs?

Yeah that's great for the working folks

A small fee wouldn’t hurt.
Neither would exempting retirement funds

Do you know how many transactions occur in a retirement fund over the course of 30 or 40 years?
 

Mac1958

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Opposing Authoritarian Ideological Fundamentalism.
And we once again have Trumpsters pretending to be fiscally responsible and attacking others.

Too funny

Seems to me the "Trumpsters"are calling for less spending you fckn clown
Call all you want, Einstein. You cheered Trump when he signed a massive spending increase.

You are arrogant and ignorant. A perfect mindless Trumpster.
 

AMart

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More taxes and regulations favor the big guys, the institutional brokerage houses, they can afford it is easier than smaller houses. What happened with increased banking regulations? They could not manage all of the regulations and got bought by the big boys.
 

SassyIrishLass

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And we once again have Trumpsters pretending to be fiscally responsible and attacking others.

Too funny

Seems to me the "Trumpsters"are calling for less spending you fckn clown
Call all you want, Einstein. You cheered Trump when he signed a massive spending increase.

You are arrogant and ignorant. A perfect mindless Trumpster.

I never cheered Trump signing a tax increase you lying sack of shit.

Now sit the fuck down you partisan hack
 

Papageorgio

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OMG
These fuckin loons will tax orgasms if they could.
Goddamn authoritarians!

You prefer just giving money away and adding to the debt?

Trump's Road to Socialism | Tho Bishop
No

So what we have here is a proposal to start paying for things and you are still against that?
Start paying for what? Shit the federal govt has no business doing?
You federal supremacists make me fucking sick to my stomach. This countries founders died in vain because of shit stains like you.

One of the options is to state where you would spend it. Why not suggest the debt?

Tell me, how is it the governments business to bail out private businesses?
Yeah, thats what it will go to. The thing nobody in washington gives a shit about :lol:

what I find amazing is that the rich won’t pay the tax, they will pass the tax on their consumers who will pay the tax, their fees will go up to cover the tax and more, like admin fees. The tax like all taxes are pass through taxes for the rich.
 

Mac1958

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And we once again have Trumpsters pretending to be fiscally responsible and attacking others.

Too funny

Seems to me the "Trumpsters"are calling for less spending you fckn clown
Call all you want, Einstein. You cheered Trump when he signed a massive spending increase.

You are arrogant and ignorant. A perfect mindless Trumpster.

I never cheered Trump signing a tax increase you lying sack of shit.

Now sit the fuck down you partisan hack
Of course you did, and you cheered the economy that was stimulated by all that spending.

You are a joke. A child.
 
OP
kyzr

kyzr

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I support the proposed transaction tax. It will hit the high-speed traders more than me or other "buy and hold" investors.

How much money do these high-speed traders currently make every year?
They make too much. They do about half of the stock trades, and do nothing but steal our 401k investments.

Too much.

Your precise grasp of this issue is very convincing.

They do about half of the stock trades

And what do they do when they trade? Can you explain it?

and do nothing but steal our 401k investments.

I'm not buying and selling the stocks in my 401k every day, how do they steal from me?
From the OP:
"This (transaction tax) makes financial markets fairer and possibly less volatile. As described by Michael Lewis in Flash Boys, high frequency traders (HFTs) can earn profits by front-running other trades by micro-seconds, an activity that raises costs for legitimate traders and provides no value to society. HFTs account for roughly half all stock trades and much of their business model would be threatened by the proposed transactions tax.

If you're still not convinced, read the OP links. The transaction tax is a very good thing.


As described by Michael Lewis in Flash Boys, high frequency traders (HFTs) can earn profits by front-running other trades by micro-seconds, an activity that raises costs for legitimate traders and provides no value to society.

That drama queen? He's funny!

Ok, TSLA is trading at $711.15-Bid $711.19-Offer.
I try to buy 100 shares at $711.19.....how does an HFT swoop in and steal my money? Any idea?
When big investors buy any stocks that you have, the high-frequency traders steal some of the investment.
They provide no value to society. You're the drama queen whining about something you apparently know very little about.
 

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