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You're wrong, this isn't just the US. First of all the tax is being pushed by the UK and is supported throughout much of the G20. Second I don't care how you spin it, even if the tax only was in the US, it would have an effect on *any* entity that needed exposure to US exchanges. I agree it would send liquidity to offshore exchanges that don't exist in a country that imposes the tax, but there is the likelyhood that Congress could require any US issuer to require that in turn it only lists on exchanges that impose the tax. So as long as you're happy not trading US issuers than sure go back to trading the Asian Index futures, have a blast. Except it isn't that simple.
Please don't be naive, this tax idea didn't start here in the US. Even the IMF has softened to it after Gordon Brown complained. Constrained capital flows in the us will destroy price discovery here and warp it badly everywhere else. Believing otherwise will set one self up for disappointment. Our problems are your problems, or didn't the past 18 months already make that clear for you?
-----Original Message-----
From: "paultsho" <paul.tsho@xxxxxxxxx>
Date: Sat, 05 Dec 2009 15:34:27
To: <amibroker@xxxxxxxxxxxxxxx>
Subject: [amibroker] Re: Trader Tax
I hardly think Amibroker will be irrelevant just because the US descides to put tax on trades. It will be a blow for US traders for sure. But the world isnt as US centric as it used to be. Besides, I cant see why Nasdaq or NYSE cant set up futures trading in Singapore or Hong Kong. Nikki has been traded in Singapore for years. What will suffer for sure would be American jobs that are currently supporting trading in the US. This is what all US traders must tell their senators and congressmen that they shouldnt be the ones that leave the legacy of being the parliament that export jobs overseas on mass.
--- In amibroker@xxxxxxxxxxxxxxx, "Potato Soup" <potatosoupz@xxx> wrote:
>
> My original post on this matter was marked by me as off topic but frankly it isn't. As was said AmiBroker will be an irrelevent piece of software as the economics of scale will eliminate the viability of 99.999% of strategies for non exempt entities, which means nearly everyone on this list.
>
>
>
> -----Original Message-----
> From: Mubashar Virk <mvirk67@xxx>
> Date: Sat, 05 Dec 2009 15:33:49
> To: <amibroker@xxxxxxxxxxxxxxx>
> Subject: Re: [amibroker] Re: Trader Tax
>
> By the way how does this issue relate to AB?
>
> wooziwog wrote:
> >
> > Ed,
> > I don't want to seem like an alarmist but the US income tax was
> > considered benign (1% of income) when it was implemented, the Social
> > Security contribution was also benign, (don't have exact figures but
> > it was something like 0.5% of first $1000 of earnings) as was the
> > Medicare contribution. The sad fact is that when a parasite attaches
> > itself to the host it will keep sucking blood, as it grows it needs
> > more blood. Good parasites never kill their host - the question is how
> > smart is our parasite? Based on the current spending I am seeing I
> > consider paying more taxes as a "cure" is the same as curing an
> > alcoholic by giving them more alcohol. Consider any tax that is
> > imposed as the "initial offering" to get it passed, it will continue
> > to grow after it is passed.
> >
> > David K.
> >
> > --- In amibroker@xxxxxxxxxxxxxxx <mailto:amibroker%40yahoogroups.com>,
> > "Ed Fast" <fasttrader@> wrote:
> > >
> > > The presenter (not sure who it was as I am certainly not glued to
> > CNBC as I
> > > trade) made it sound like the Trader Tax is a very benign tax
> > measure and
> > > would not effect anyone important except the "Wall Street Fat Cats"
> > as it
> > > generated all this free money for the government.
> > >
> > >
> > >
> > > It would affect me and I am certainly not a "Fat Cat"
> > >
> > >
> > >
> > > Ed Fast
> > >
> > >
> > >
> > > _____
> > >
> > > From: amibroker@xxxxxxxxxxxxxxx <mailto:amibroker%40yahoogroups.com>
> > [mailto:amibroker@xxxxxxxxxxxxxxx
> > <mailto:amibroker%40yahoogroups.com>] On Behalf
> > > Of Potato Soup
> > > Sent: Friday, December 04, 2009 11:56 AM
> > > To: AmiBroker (Discussion List)
> > > Subject: Re: [amibroker] Trader Tax
> > >
> > >
> > >
> > >
> > >
> > > Yes. Do not fall asleep at the wheel. Congress is desperate to find tax
> > > revenues and score another populist win. Don't just call your
> > > representatives, call every friend and family member and ezplain why
> > this
> > > isn't good for mainstreet.
> > >
> > > _____
> > >
> > > From: "Ed Fast" <fasttrader@>
> > >
> > > Date: Fri, 4 Dec 2009 11:50:28 -0800
> > >
> > > To: <amibroker@xxxxxxxxxxxxxxx <mailto:amibroker%40yahoogroups.com>>
> > >
> > > Subject: [amibroker] Trader Tax
> > >
> > >
> > >
> > > If you have just watched the CNBC interview, you will understand how
> > > important it is to contact your senator and representative and let
> > them know
> > > that the Trader Tax is being presented in a very skewed manner and will
> > > devastate the Financial Markets and the underlying Liquidity
> > >
> > >
> > >
> > > Ed Fast
> > >
> >
> >
> >
> >
> > __________ Information from ESET NOD32 Antivirus, version of virus
> > signature database 4659 (20091203) __________
> >
> > The message was checked by ESET NOD32 Antivirus.
> >
> > http://www.eset.com
>
>
>
> __________ Information from ESET NOD32 Antivirus, version of virus signature database 4659 (20091203) __________
>
> The message was checked by ESET NOD32 Antivirus.
>
> http://www.eset.com
>
>
>
>
> ------------------------------------
>
> **** IMPORTANT PLEASE READ ****
> This group is for the discussion between users only.
> This is *NOT* technical support channel.
>
> TO GET TECHNICAL SUPPORT send an e-mail directly to
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>
> For NEW RELEASE ANNOUNCEMENTS and other news always check DEVLOG:
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>
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------------------------------------
**** IMPORTANT PLEASE READ ****
This group is for the discussion between users only.
This is *NOT* technical support channel.
TO GET TECHNICAL SUPPORT send an e-mail directly to
SUPPORT {at} amibroker.com
TO SUBMIT SUGGESTIONS please use FEEDBACK CENTER at
http://www.amibroker.com/feedback/
(submissions sent via other channels won't be considered)
For NEW RELEASE ANNOUNCEMENTS and other news always check DEVLOG:
http://www.amibroker.com/devlog/
Yahoo! Groups Links
------------------------------------
**** IMPORTANT PLEASE READ ****
This group is for the discussion between users only.
This is *NOT* technical support channel.
TO GET TECHNICAL SUPPORT send an e-mail directly to
SUPPORT {at} amibroker.com
TO SUBMIT SUGGESTIONS please use FEEDBACK CENTER at
http://www.amibroker.com/feedback/
(submissions sent via other channels won't be considered)
For NEW RELEASE ANNOUNCEMENTS and other news always check DEVLOG:
http://www.amibroker.com/devlog/
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