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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

kaz

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I absolutely support this and I'm open to where we spend it.

Democrats, unbelievable.

You already spent it, many, many times over. Now you want to create another tax and spend it AGAIN. Unfricking believable
 

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?
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).

Only a real drama queen would whine about a $100 or so tax increase.

Only an idiot says a $100 tax on me doesn't hit me.

The projections are for $80b in new revenue, see the OP links

Is that like the projections for the luxury tax on expensive boats? LOL!
 

pknopp

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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.

If it's not paid for like how Trump's bail outs were not, I do not support them. But you have no standing to condemn anyone that does.
 

pknopp

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I absolutely support this and I'm open to where we spend it.

Democrats, unbelievable.

You already spent it, many, many times over. Now you want to create another tax and spend it AGAIN. Unfricking believable

Bite me. I'm not a Democrat. Address me, not your boogeymen.
 
OP
kyzr

kyzr

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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?
1. Stop with the "straw-man" examples.
2. I explained how, its called "front-running" trades, read the OP links <again>.
3. When large investors buy TSLA the HFT can front-run it and steal value from you. They don't "invest" they steal value.
If you're too stupid to understand what "front-running" is I can't help you, a very low bar indeed.
 

PoliticalChic

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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.


"More taxes and regulations favor the big guys,"


Exactly so......it is Mussolini and FDR's corporatism.



  1. The actuality is that big business knows that the greatest threat is not government or its regulation, but competition with smaller, more innovative firms. So, when the opportunity arises to cooperate with government in crafting new regulation, big business lobbyists, rather than opposing ‘reform,’ they write the laws for their own advantages!
    1. The truth about the Left’s push for ever-greater regulation of private industry is that, rather than to protect consumers against big business…it is designed to make big business become part of their political machine.
    2. And big business will pay whatever it takes to join.
  2. Example: The regulatory reforms of the meat packing industry in the early 1900s, inspired by Upton Sinclair’s muckraking book “The Jungle,” were enacted with the enthusiastic cooperation of America’s largest meat packing corporations- because they knew that only the largest could afford to comply with the new regulations. Thus, the smaller ones were driven out of business.
Upton Sinclair: “The federal inspection of meat was historically established at the packer’s request. It is maintained and paid for by the people of the United States for the benefit of the packers.” William J. Chambliss, “Making Law: The State, the Law, and Structural Contradictions,” p. 5
 

kaz

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I absolutely support this and I'm open to where we spend it.

Democrats, unbelievable.

You already spent it, many, many times over. Now you want to create another tax and spend it AGAIN. Unfricking believable

Bite me. I'm not a Democrat. Address me, not your boogeymen.

I directly addressed what you said. Stop posting that you're a Democrat if you're not one
 

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.
Works for me

Of course it works for you assuming you are part of the liberal wealthy elite, you are one data point and/or very likely a small, skewed minority. Liberal wealthy elites don’t like their money being touched (taxed) which is why they go after income tax and hits Middle Class like myself.
 

Toddsterpatriot

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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?
1. Stop with the "straw-man" examples.
2. I explained how, its called "front-running" trades, read the OP links <again>.
3. When large investors buy TSLA the HFT can front-run it and steal value from you. They don't "invest" they steal value.
If you're too stupid to understand what "front-running" is I can't help you.

I explained how, its called "front-running" trades,

Use my example. Explain how they front-run my trade.

When large investors buy TSLA the HFT can front-run it and steal value from you.

I'm not a large investor. Explain how front-running a large investor impacts my 100 share TSLA buy?

If you're too stupid to understand what "front-running" is I can't help you.

If you can't explain my trade, I'm going to continue mocking your ignorance.
 

Nostra

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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.

If it's not paid for like how Trump's bail outs were not, I do not support them. But you have no standing to condemn anyone that does.
So you are now on record being against Pedo Joe's infrastructure bill.

I have no standing? How so?
 

pknopp

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I absolutely support this and I'm open to where we spend it.

Democrats, unbelievable.

You already spent it, many, many times over. Now you want to create another tax and spend it AGAIN. Unfricking believable

Bite me. I'm not a Democrat. Address me, not your boogeymen.

I directly addressed what you said. Stop posting that you're a Democrat if you're not one

I wish you would grow up.
 

pknopp

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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.

If it's not paid for like how Trump's bail outs were not, I do not support them. But you have no standing to condemn anyone that does.
So you are now on record being against Pedo Joe's infrastructure bill.

I have no standing? How so?

I've covered how so in this thread already and I really don't give those with juvenile replies much time.
 
OP
kyzr

kyzr

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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.
OMG, here are a few links that you are apparently too lazy or stupid to research before posting nonsense.




What's funny is that you can't prove your "point" with links, so you are just a whiner.
 

Nostra

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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.

If it's not paid for like how Trump's bail outs were not, I do not support them. But you have no standing to condemn anyone that does.
So you are now on record being against Pedo Joe's infrastructure bill.

I have no standing? How so?

I've covered how so in this thread already and I really don't give those with juvenile replies much time.
You have not covered how I have no standing. You can't, so you dodge.

Now, keep dodging.............it proves you are full of shit.
 

Gdjjr

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Sorry, I can't take any of this seriously.
Your loss- not mine- everything I said is true- of course I'm willing to see your take on it- the gov't can only confiscate (steal) wealth- allegedly it can produce no wealth- but, it can help its crony's gain more wealth, by stealing your wealth and pretending to be helping you- show me where that's inaccurate.
 

Toddsterpatriot

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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.
OMG, here are a few links that you are apparently too lazy or stupid to research before posting nonsense.




What's funny is that you can't prove your "point" with links, so you are just a whiner.

Thanks for the links.
The 1st and 3rd don't mention high-frequency trading.

The 2nd one.......
1619012908686.png

Don't need to be an HFT to read an announcement and buy a stock.
Even you could do that.

So still no luck explaining how my TSLA order gets front-run? LOL!
 

kaz

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I absolutely support this and I'm open to where we spend it.

Democrats, unbelievable.

You already spent it, many, many times over. Now you want to create another tax and spend it AGAIN. Unfricking believable

Bite me. I'm not a Democrat. Address me, not your boogeymen.

I directly addressed what you said. Stop posting that you're a Democrat if you're not one

I wish you would grow up.

Stop posting that you're a Democrat if you're not one. As you say, grow up
 

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

Of course it works for you assuming you are part of the liberal wealthy elite, you are one data point and/or very likely a small, skewed minority. Liberal wealthy elites don’t like their money being touched (taxed) which is why they go after income tax and hits Middle Class like myself.
You know what is funny?

The Liberal wealthy elite supports paying more taxes while the Conservative wealthy elite cuts their own taxes and makes up for it by slashing social programs
 

pknopp

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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.

If it's not paid for like how Trump's bail outs were not, I do not support them. But you have no standing to condemn anyone that does.
So you are now on record being against Pedo Joe's infrastructure bill.

I have no standing? How so?

I've covered how so in this thread already and I really don't give those with juvenile replies much time.
You have not covered how I have no standing. You can't, so you dodge.

Now, keep dodging.............it proves you are full of shit.

You've supported those who add to the debt, not address it.
 

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