Details of a
new, proposed tax is making the rounds in Congress. A financial-transactions tax
on the sale or transfer of financial assets - 0.25 percent of proceeds and
purchases - would be levied against traders regardless of whether they make or
lose money.
A 0.25 percent
financial-transaction tax on $10 million of proceeds OR PURCHASES equals a tax
of $50,000 per year. This is even if you lose money on those trades!! This tax
applies to stocks, options, and futures.
Our view is
that traders, particularly those who have managed their assets well enough to be
able to trade the market, should not have to pay for the mistakes of poorly
managed institutions.
Please sign
this online petition:
http://www.rallycongress.com/no2tradertax/1536/
Please contact
your local senators and voice your disapproval:
http://www.senate.gov/general/contact_information/senators_cfm.cfm
Please contact
your local Representatives and speak your mind:
http://www.house.gov/house/MemberWWW.shtml