What's new
US Message Board - Political Discussion Forum

This is a sample guest message. Register a free account today to become a member! Once signed in, you'll be able to participate on this site by adding your own topics and posts, as well as connect with other members through your own private inbox!

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

pknopp

Gold Member
Joined
Jul 22, 2019
Messages
29,876
Reaction score
7,885
Points
215
All these taxes start to add up

Our debt isn't?
Do you think the few billion they claim this will raise is gonna lower our debt?

You really are stupid.

It's a start. Did you think adding to the debt was going to lower our debt?
Howsabout we not spend $20 billion on environmental justice bullshit instead? You have no problem with that, huh?

Now you claim you will after defending Pedo Joe's "infrastructure" boondoggle.

Find where I supported spending $20 billion. I'll wait.
 

pknopp

Gold Member
Joined
Jul 22, 2019
Messages
29,876
Reaction score
7,885
Points
215
All these taxes start to add up

Our debt isn't?

So stop the pork in bill, reduce spending

I'd hate to see a democrat's personal budget

LOL, debt went up $8 trillion under Trump. You expect Democrats to do what Trump would not? They are at least addressing one side.
Veggie Joe is on pace to make it go up around $48 TRILLION.

:oops8:

Good. I hope it all falls apart.
You said Pedo Joe was addressing it...............when I show he is worse than Trump you cheer it.

And you claim others are hypocrites. :laughing0301:

That's right. Here we have a program to actually pay for a program. I support that. Do I expect Biden to continue to run up the debt? I do. Being as how no one will address that I support it all falling apart to address it.
 

Gdjjr

Platinum Member
Joined
Oct 25, 2019
Messages
10,525
Reaction score
5,710
Points
965
Location
Texas
Robbing Peter to pay Paul is still robbing- stopping the theft would end a myriad of problems- most notably, legalized theft. graft and corruption are close behind- adding to the coffers by theft means you approve of theft as long as it's not you being robbed- but, when it's you being robbed it's somehow the other guys fault- SMH
 
OP
kyzr

kyzr

Diamond Member
Joined
Oct 14, 2009
Messages
17,972
Reaction score
9,361
Points
1,255
Location
The AL part of PA
Don't just look at the tax, look at your 401K bump w/o high-frequency traders. Its a benefit, not a tax.

If I'm a buy and hold in my 401k, how does eliminating HFT give my 401k a bump?
Because the HFTs won't "front-run" any trades stealing value from buy-and-hold investors.
HFTs don't "invest" they "steal" investments.
 

pknopp

Gold Member
Joined
Jul 22, 2019
Messages
29,876
Reaction score
7,885
Points
215
All these taxes start to add up

Our debt isn't?
You mean SPENDING

Spending that has led to massive debt. Why shouldn't we pay for that?
Cut spending. We haven't paid for our spending to begin with. If we had we wouldn't be in debt.
CUT SPENDING

When people actually start voting for that I will take the argument seriously. Until then I'm going to go with realities.
So your spouse/teenager spend you into oblivion. They won't have a serious discussion about cutting their spending so you just throw your hands up and agree to their demands YOU just need to give them more money?

That's the most fucked up way of looking at spending ever.

How many times do I need to address this? Give me an exact number please. When people start actually voting to address the debt I'll take this argument seriously. Until then I do not.
 

pknopp

Gold Member
Joined
Jul 22, 2019
Messages
29,876
Reaction score
7,885
Points
215
Robbing Peter to pay Paul is still robbing- stopping the theft would end a myriad of problems- most notably, legalized theft. graft and corruption are close behind- adding to the coffers by theft means you approve of theft as long as it's not you being robbed- but, when it's you being robbed it's somehow the other guys fault- SMH

Paying your debt is not robbing anyone.
 

Gdjjr

Platinum Member
Joined
Oct 25, 2019
Messages
10,525
Reaction score
5,710
Points
965
Location
Texas
Paying your debt is not robbing anyone.
"I" pay MY credit cards every month with my left over allownace Uncle Sham allows me to keep, that "I" earned- the fed gov't steals everything- it owns no means of producing wealth- it steals the fruit of your labor-
 

Toddsterpatriot

Diamond Member
Joined
May 3, 2011
Messages
66,203
Reaction score
14,015
Points
2,180
Location
Chicago
When big investors buy any stocks that you have, the high-frequency traders steal some of the investment.

Cool story. Show me how. Use my example.
Be specific.

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?
 

pknopp

Gold Member
Joined
Jul 22, 2019
Messages
29,876
Reaction score
7,885
Points
215
Paying your debt is not robbing anyone.
"I" pay MY credit cards every month with my left over allownace Uncle Sham allows me to keep, that "I" earned- the fed gov't steals everything- it owns no means of producing wealth- it steals the fruit of your labor-

Sorry, I can't take any of this seriously.
 

Nostra

Diamond Member
Joined
Oct 7, 2019
Messages
25,432
Reaction score
21,208
Points
2,415
All these taxes start to add up

Our debt isn't?
Do you think the few billion they claim this will raise is gonna lower our debt?

You really are stupid.

It's a start. Did you think adding to the debt was going to lower our debt?
Howsabout we not spend $20 billion on environmental justice bullshit instead? You have no problem with that, huh?

Now you claim you will after defending Pedo Joe's "infrastructure" boondoggle.

Find where I supported spending $20 billion. I'll wait.
So you oppose Pedo Joe's "infrastructure bill" now.

Got it.
 
OP
kyzr

kyzr

Diamond Member
Joined
Oct 14, 2009
Messages
17,972
Reaction score
9,361
Points
1,255
Location
The AL part of PA
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?
1. Only a real drama queen would whine about a $100 or so tax increase.
2. How does $100 a year compare to your income tax on investment income? Hopefully insignificant.
3. The projections are for $80b in new revenue, see the OP links, stop bullshitting (aka lying).
 

struth

Platinum Member
Joined
Feb 22, 2021
Messages
4,817
Reaction score
2,902
Points
893
The Dems have literally taxed just about EVERY SINGLE thing we do. I can't work without being taxed, I can't make a meal without it being taxed, I can't buy a meal without in being taxed, I can't drive without it being taxed, I can't invest money (that already has been taxed) and be successful on the return with out it being taxed, I can't own a home without in being taxed....now the Dems want to literally tax me for SELLING SOMETHING...something I purchased with money already taxed, and if I made a gain on, taxed my gains....now they want to tax me for simply selling it!

and this crap about "we are gonna use it for pay for XYX" what the f? Why not pay for the crap you already are suppose to be doing, with all the other money I pay before you take more money to pay for something else....
 

Toddsterpatriot

Diamond Member
Joined
May 3, 2011
Messages
66,203
Reaction score
14,015
Points
2,180
Location
Chicago
Don't just look at the tax, look at your 401K bump w/o high-frequency traders. Its a benefit, not a tax.

If I'm a buy and hold in my 401k, how does eliminating HFT give my 401k a bump?
Because the HFTs won't "front-run" any trades stealing value from buy-and-hold investors.
HFTs don't "invest" they "steal" investments.

Because the HFTs won't "front-run" any trades stealing value from buy-and-hold investors.

You just can't explain how they steal value

HFTs don't "invest" they "steal" investments.

Funnier every time you say it.
 

USMB Server Goals

Total amount
$230.00
Goal
$350.00

New Topics

Most reactions - Past 7 days

Forum List

Top