TAX TAX TAX and more TAX

[CA renter]

[quote=gandalf]Wow.

So what you’re basically saying is Goldman Sachs has contributed lots of value to society.

AIG? Countrywide? Washington Mutual?

WorldCom? Enron? Peregrine?

Mexican drug cartels?

Good grief.

Wealth is loosely correlated to contributions to society, but more often, it correlates with power and ownership of capital and resources.[/quote]

Exactly, gandalf. You hit the nail on the head.

This is why I support a progressive income tax, and why I believe ALL income should be treated equally. One could even make the argument that investment income should be taxed at a higher rate because the earner is less “productive” than someone who only has earned income.

[Anonymous]

Sk,

I must be missing something. Doesn’t the cash end up in the seller’s checking account?

BTW, stock exchanges do not provide any way to trade one stock directly for another. That would be incredibly complicated…

Back to the interesting stuff:

By “pt” do you mean basis points (1/100 of a percent)? Imposing a 25 cent transaction fee on a $10K trade would definitely change the behavior of high frequency trading systems (this is not necessarily a bad thing.)

I’m not arguing against such a fee, I’m just making the point that liquidity is a good thing in markets. It benefits *all* participants, from the high-volume trader to the individual investor. Taxes on transactions will take some of this benefit away. But it may be a good tradeoff with the right parameters.

[Anonymous]

Sk,

I must be missing something. Doesn’t the cash end up in the seller’s checking account?

BTW, stock exchanges do not provide any way to trade one stock directly for another. That would be incredibly complicated…

Back to the interesting stuff:

By “pt” do you mean basis points (1/100 of a percent)? Imposing a 25 cent transaction fee on a $10K trade would definitely change the behavior of high frequency trading systems (this is not necessarily a bad thing.)

I’m not arguing against such a fee, I’m just making the point that liquidity is a good thing in markets. It benefits *all* participants, from the high-volume trader to the individual investor. Taxes on transactions will take some of this benefit away. But it may be a good tradeoff with the right parameters.

[Anonymous]

Sk,

I must be missing something. Doesn’t the cash end up in the seller’s checking account?

BTW, stock exchanges do not provide any way to trade one stock directly for another. That would be incredibly complicated…

Back to the interesting stuff:

By “pt” do you mean basis points (1/100 of a percent)? Imposing a 25 cent transaction fee on a $10K trade would definitely change the behavior of high frequency trading systems (this is not necessarily a bad thing.)

I’m not arguing against such a fee, I’m just making the point that liquidity is a good thing in markets. It benefits *all* participants, from the high-volume trader to the individual investor. Taxes on transactions will take some of this benefit away. But it may be a good tradeoff with the right parameters.

[Anonymous]

Sk,

I must be missing something. Doesn’t the cash end up in the seller’s checking account?

BTW, stock exchanges do not provide any way to trade one stock directly for another. That would be incredibly complicated…

Back to the interesting stuff:

By “pt” do you mean basis points (1/100 of a percent)? Imposing a 25 cent transaction fee on a $10K trade would definitely change the behavior of high frequency trading systems (this is not necessarily a bad thing.)

I’m not arguing against such a fee, I’m just making the point that liquidity is a good thing in markets. It benefits *all* participants, from the high-volume trader to the individual investor. Taxes on transactions will take some of this benefit away. But it may be a good tradeoff with the right parameters.

[Anonymous]

Sk,

I must be missing something. Doesn’t the cash end up in the seller’s checking account?

BTW, stock exchanges do not provide any way to trade one stock directly for another. That would be incredibly complicated…

Back to the interesting stuff:

By “pt” do you mean basis points (1/100 of a percent)? Imposing a 25 cent transaction fee on a $10K trade would definitely change the behavior of high frequency trading systems (this is not necessarily a bad thing.)

I’m not arguing against such a fee, I’m just making the point that liquidity is a good thing in markets. It benefits *all* participants, from the high-volume trader to the individual investor. Taxes on transactions will take some of this benefit away. But it may be a good tradeoff with the right parameters.

[CA renter]

[quote=briansd1]

I definitely feel that there is a racist element in the right, especially in the lower social economic strata of right wing Whites — people who would benefit greatly from Obama policies but who are vociferous opponents of Obama.

It’s a controversial issue so people don’t want to face it. Right wing leaders know this and they play to the fears of their base quite well.

But the demographics are such that progressives will win the day. It’s only a matter of time.

Conservatives want to preserve the status quo and they always had to be dragged along kicking and screaming. That’s the way it’s been and that’s the way it will remain.[/quote]

Brian,

You know I’m one of the more left-leaning posters on this blog, but even I have to question your constant assertion that anyone who disagrees with Obama must be a racist.

Sure, there are racists out there, but that doesn’t mean that every time we disagree that we’re doing so for some irrational or emotional reason. IMHO, whenever people bring up the race issue, they just lost the debate. Let’s debate the **issues** and let facts and logic speak for themselves. Are you in?

[CA renter]

[quote=briansd1]

I definitely feel that there is a racist element in the right, especially in the lower social economic strata of right wing Whites — people who would benefit greatly from Obama policies but who are vociferous opponents of Obama.

It’s a controversial issue so people don’t want to face it. Right wing leaders know this and they play to the fears of their base quite well.

But the demographics are such that progressives will win the day. It’s only a matter of time.

Conservatives want to preserve the status quo and they always had to be dragged along kicking and screaming. That’s the way it’s been and that’s the way it will remain.[/quote]

Brian,

You know I’m one of the more left-leaning posters on this blog, but even I have to question your constant assertion that anyone who disagrees with Obama must be a racist.

Sure, there are racists out there, but that doesn’t mean that every time we disagree that we’re doing so for some irrational or emotional reason. IMHO, whenever people bring up the race issue, they just lost the debate. Let’s debate the **issues** and let facts and logic speak for themselves. Are you in?

[CA renter]

[quote=briansd1]

I definitely feel that there is a racist element in the right, especially in the lower social economic strata of right wing Whites — people who would benefit greatly from Obama policies but who are vociferous opponents of Obama.

It’s a controversial issue so people don’t want to face it. Right wing leaders know this and they play to the fears of their base quite well.

But the demographics are such that progressives will win the day. It’s only a matter of time.

Conservatives want to preserve the status quo and they always had to be dragged along kicking and screaming. That’s the way it’s been and that’s the way it will remain.[/quote]

Brian,

You know I’m one of the more left-leaning posters on this blog, but even I have to question your constant assertion that anyone who disagrees with Obama must be a racist.

Sure, there are racists out there, but that doesn’t mean that every time we disagree that we’re doing so for some irrational or emotional reason. IMHO, whenever people bring up the race issue, they just lost the debate. Let’s debate the **issues** and let facts and logic speak for themselves. Are you in?

[CA renter]

[quote=briansd1]

I definitely feel that there is a racist element in the right, especially in the lower social economic strata of right wing Whites — people who would benefit greatly from Obama policies but who are vociferous opponents of Obama.

It’s a controversial issue so people don’t want to face it. Right wing leaders know this and they play to the fears of their base quite well.

But the demographics are such that progressives will win the day. It’s only a matter of time.

Conservatives want to preserve the status quo and they always had to be dragged along kicking and screaming. That’s the way it’s been and that’s the way it will remain.[/quote]

Brian,

You know I’m one of the more left-leaning posters on this blog, but even I have to question your constant assertion that anyone who disagrees with Obama must be a racist.

Sure, there are racists out there, but that doesn’t mean that every time we disagree that we’re doing so for some irrational or emotional reason. IMHO, whenever people bring up the race issue, they just lost the debate. Let’s debate the **issues** and let facts and logic speak for themselves. Are you in?

[CA renter]

[quote=briansd1]

I definitely feel that there is a racist element in the right, especially in the lower social economic strata of right wing Whites — people who would benefit greatly from Obama policies but who are vociferous opponents of Obama.

It’s a controversial issue so people don’t want to face it. Right wing leaders know this and they play to the fears of their base quite well.

But the demographics are such that progressives will win the day. It’s only a matter of time.

Conservatives want to preserve the status quo and they always had to be dragged along kicking and screaming. That’s the way it’s been and that’s the way it will remain.[/quote]

Brian,

You know I’m one of the more left-leaning posters on this blog, but even I have to question your constant assertion that anyone who disagrees with Obama must be a racist.

Sure, there are racists out there, but that doesn’t mean that every time we disagree that we’re doing so for some irrational or emotional reason. IMHO, whenever people bring up the race issue, they just lost the debate. Let’s debate the **issues** and let facts and logic speak for themselves. Are you in?

[CA renter]

[quote=flu][quote=Aecetia]I must have missed it. I thought flu said, buy and ship from abroad. I would support VAT if it completely replaced both State and Federal Income Tax.

Today I heard that the new financial bill that is making the rounds may have a transaction tax built in for certain trades: Sen. Tom Harkin (D-Iowa) called for the creation of a tax on financial transaction to help reduce the deficit.

“At a time when the deficit is rising, we must find ways to reduce the debt without putting a heavy burden on average Americans or cutting necessary services,” he said. “A small transaction tax can raise substantial funds with virtually no effect on middle-class families. And it has the added effect of dampening down overly speculative trading, which is partially to blame for the recent economic crash.” Harkin joined Wall Street and economic experts as well as labor leaders and consumer advocates in calling for the tax.

That should put a damper on the recovery.

http://thehill.com/blogs/on-the-money/domestic-taxes/92801-harkin-calls-for-tax-on-financial-transactions%5B/quote%5D

Actually, many canadians at the border do just this. They get all their auto repair, big purchases done in the States to escape all the VAT/provicial taxes. Of course, they have to be careful about re-entry into canada, because if it’s so obvious, they end up paying customs at the border.

I’m looking forward to some Senator proposing a
savings tax or cash-in-the-mattress-tax for people making $200k single/$250k married…

The bill would be something like: if you hold on to cash longer than a year without spending it, whether it is in a 0% interest account or in your mattress, you have to pay taxes on it…. Heck, it would stimulate spending, wouldn’t it?[/quote]

That’s what Brian wants to do with his “wealth tax.” 😉

[CA renter]

[quote=flu][quote=Aecetia]I must have missed it. I thought flu said, buy and ship from abroad. I would support VAT if it completely replaced both State and Federal Income Tax.

Today I heard that the new financial bill that is making the rounds may have a transaction tax built in for certain trades: Sen. Tom Harkin (D-Iowa) called for the creation of a tax on financial transaction to help reduce the deficit.

“At a time when the deficit is rising, we must find ways to reduce the debt without putting a heavy burden on average Americans or cutting necessary services,” he said. “A small transaction tax can raise substantial funds with virtually no effect on middle-class families. And it has the added effect of dampening down overly speculative trading, which is partially to blame for the recent economic crash.” Harkin joined Wall Street and economic experts as well as labor leaders and consumer advocates in calling for the tax.

That should put a damper on the recovery.

http://thehill.com/blogs/on-the-money/domestic-taxes/92801-harkin-calls-for-tax-on-financial-transactions%5B/quote%5D

Actually, many canadians at the border do just this. They get all their auto repair, big purchases done in the States to escape all the VAT/provicial taxes. Of course, they have to be careful about re-entry into canada, because if it’s so obvious, they end up paying customs at the border.

I’m looking forward to some Senator proposing a
savings tax or cash-in-the-mattress-tax for people making $200k single/$250k married…

The bill would be something like: if you hold on to cash longer than a year without spending it, whether it is in a 0% interest account or in your mattress, you have to pay taxes on it…. Heck, it would stimulate spending, wouldn’t it?[/quote]

That’s what Brian wants to do with his “wealth tax.” 😉

[CA renter]

[quote=flu][quote=Aecetia]I must have missed it. I thought flu said, buy and ship from abroad. I would support VAT if it completely replaced both State and Federal Income Tax.

Today I heard that the new financial bill that is making the rounds may have a transaction tax built in for certain trades: Sen. Tom Harkin (D-Iowa) called for the creation of a tax on financial transaction to help reduce the deficit.

“At a time when the deficit is rising, we must find ways to reduce the debt without putting a heavy burden on average Americans or cutting necessary services,” he said. “A small transaction tax can raise substantial funds with virtually no effect on middle-class families. And it has the added effect of dampening down overly speculative trading, which is partially to blame for the recent economic crash.” Harkin joined Wall Street and economic experts as well as labor leaders and consumer advocates in calling for the tax.

That should put a damper on the recovery.

http://thehill.com/blogs/on-the-money/domestic-taxes/92801-harkin-calls-for-tax-on-financial-transactions%5B/quote%5D

Actually, many canadians at the border do just this. They get all their auto repair, big purchases done in the States to escape all the VAT/provicial taxes. Of course, they have to be careful about re-entry into canada, because if it’s so obvious, they end up paying customs at the border.

I’m looking forward to some Senator proposing a
savings tax or cash-in-the-mattress-tax for people making $200k single/$250k married…

The bill would be something like: if you hold on to cash longer than a year without spending it, whether it is in a 0% interest account or in your mattress, you have to pay taxes on it…. Heck, it would stimulate spending, wouldn’t it?[/quote]

That’s what Brian wants to do with his “wealth tax.” 😉

[CA renter]

[quote=flu][quote=Aecetia]I must have missed it. I thought flu said, buy and ship from abroad. I would support VAT if it completely replaced both State and Federal Income Tax.

Today I heard that the new financial bill that is making the rounds may have a transaction tax built in for certain trades: Sen. Tom Harkin (D-Iowa) called for the creation of a tax on financial transaction to help reduce the deficit.

“At a time when the deficit is rising, we must find ways to reduce the debt without putting a heavy burden on average Americans or cutting necessary services,” he said. “A small transaction tax can raise substantial funds with virtually no effect on middle-class families. And it has the added effect of dampening down overly speculative trading, which is partially to blame for the recent economic crash.” Harkin joined Wall Street and economic experts as well as labor leaders and consumer advocates in calling for the tax.

That should put a damper on the recovery.

http://thehill.com/blogs/on-the-money/domestic-taxes/92801-harkin-calls-for-tax-on-financial-transactions%5B/quote%5D

Actually, many canadians at the border do just this. They get all their auto repair, big purchases done in the States to escape all the VAT/provicial taxes. Of course, they have to be careful about re-entry into canada, because if it’s so obvious, they end up paying customs at the border.

I’m looking forward to some Senator proposing a
savings tax or cash-in-the-mattress-tax for people making $200k single/$250k married…

The bill would be something like: if you hold on to cash longer than a year without spending it, whether it is in a 0% interest account or in your mattress, you have to pay taxes on it…. Heck, it would stimulate spending, wouldn’t it?[/quote]

That’s what Brian wants to do with his “wealth tax.” 😉

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