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In a message dated 98-07-02 00:09:40 EDT, tinyeung@xxxxxxxxxxxxxx writes:
> In equity markets, if the market rises, the holders of equities are
> making money and so it is fair for them to pay the income tax. (because
> value is being created. ) In derivative markets, however, since it is a
> zero-sum game(no new value is being created), the only thing happens
> here is the exchange of money (money flows from losers to winners). Is
> it fair for the government to tax the winners without compensation to
> the losers?
>
> Can this argument be justified to persuade people to buy stocks instead
> of trading futures and options?
>
Pointless. Reality is not the way we wish them to be, or the way the should
be, but in fact the way they are. All the blather about it won't change it.
Trade and be a winner and forget it.
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