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Right. They dont want activity to move overseas. They just dont want it to happen unless they get their cut.
I live in Mass and here there is a 12% state tax on short term cap gains on top of the fed income tax.
At least those taxes are only on the profits.
--- In amibroker@xxxxxxxxxxxxxxx, "Edward Pottasch" <empottasch@xxx> wrote:
>
> well it is my understanding that they want to enforce this trading tax
> globally.
>
> I quote: "Pelosi and other lawmakers have said the bill would have to apply
> internationally to ensure that financial activity does not move overseas."
>
>
>
> ----- Original Message -----
> From: "Mubashar Virk" <mvirk67@xxx>
> To: <amibroker@xxxxxxxxxxxxxxx>
> Sent: Saturday, December 05, 2009 1:26 PM
> Subject: Re: [amibroker] Re: Trader Tax
>
>
> > Sorry, I did not know all AB users were in the US or traded the US
> > markets.
> >
> >
> > Edward Pottasch wrote:
> >> well if they introduce a 0.25% transaction tax then you will not need any
> >> software package to track or backtest the markets because you will not be
> >> able to make any money.
> >>
> >> On the ES mini you will need to make at least 5.5 points profit before
> >> you
> >> will start making money. On a 20$ stock the first 10 cents profit are
> >> for
> >> the government, the next 2 cents for the broker, so you will need to make
> >> a
> >> profit of 12 cents before you start making money.
> >>
> >> If you can make a system that makes more than 0.25% per trade on average
> >> you
> >> are a good man.
> >>
> >>
> >> ----- Original Message -----
> >> From: "Mubashar Virk" <mvirk67@xxx>
> >> To: <amibroker@xxxxxxxxxxxxxxx>
> >> Sent: Saturday, December 05, 2009 11:33 AM
> >> 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
> >>>
> >>>
> >>>
> >>>
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> >>>
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> >>
> >>
> >>
> >> ------------------------------------
> >>
> >> **** IMPORTANT PLEASE READ ****
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> >> This is *NOT* technical support channel.
> >>
> >> TO GET TECHNICAL SUPPORT send an e-mail directly to
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> >>
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> >>
> >> For NEW RELEASE ANNOUNCEMENTS and other news always check DEVLOG:
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> >>
> >> Yahoo! Groups Links
> >>
> >>
> >>
> >>
> >>
> >>
> >> __________ Information from ESET NOD32 Antivirus, version of virus
> >> signature database 4661 (20091204) __________
> >>
> >> The message was checked by ESET NOD32 Antivirus.
> >>
> >> http://www.eset.com
> >>
> >>
> >>
> >
> >
> >
> > __________ Information from ESET NOD32 Antivirus, version of virus
> > signature database 4661 (20091204) __________
> >
> > 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
> > 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:
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