General Discussion

bvar22

(39,909 posts)

36. Your speculations are based on unsupported theory.

Wed Dec 5, 2012, 01:08 PM

Dec 2012

You claim:
[font color=firebrick]"If this tax is implemented as proposed, the immediate result will be a massive and permanent loss of transaction volume on US stock and commodities exchanges resulting in higher volatility because of fewer orders at each price."[/font]

Do you have any research to support this claim?
It sounds a lot like "You can't raise taxes on the Job Creators because they will stop creating jobs."

The Market worked just fine at lower volumes before the computers and High Speed Transactions became so common.
In fact, it wasn't until the High Speed Transactions began to dominate the market that we started having a problem with volatility. HISTORY contradicts your theory.

You stated:
[font color=firebrick]"Trading will simply move to a more favorable location: UK, Sydney, Singapore, "[/font]

Why should we care if we aren't getting a cut anyway?

Perhaps those markets will follow our lead.

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Highlight:

Eliot Spitzer: Tax the Traders! It Would Solve Economic Crisis and Stop Reckless Activity [View all] marmar Dec 2012 OP

Have to run, but K&R and more later, I hope. n/t Egalitarian Thug Dec 2012 #1

It will help to stabilize and normalize the market. joeunderdog Dec 2012 #2

I like your enthusiasm but the ball is in our court. It's Wall Street that are saying rhett o rick Dec 2012 #5

Nailed it. russspeakeasy Dec 2012 #12

The market is stable over the long term. cbdo2007 Dec 2012 #37

This just absolutely needs to be done. And I invest in stocks. But it's just self evident. Squinch Dec 2012 #3

Wonder if the could do it via a state or local (NY) sales tax? LeftInTX Dec 2012 #4

Many trades are done automatically adieu Dec 2012 #11

So smart libodem Dec 2012 #6

I can't rec this enough dreamnightwind Dec 2012 #7

LMSP kicking...n/t littlemissmartypants Dec 2012 #8

This message was self-deleted by its author AnotherMcIntosh Dec 2012 #9

This message was self-deleted by its author eugene jones Dec 2012 #10

it's a dumb idea Vox Populi Dec 2012 #13

"Eliot Spitzer ill-informed on financial markets" ???? Dude, what are you smoking? 99th_Monkey Dec 2012 #16

huh? Vox Populi Dec 2012 #20

Fortunately, your opening assertion about Spitzer being "ill-informed" 99th_Monkey Dec 2012 #22

Vox Populi pwned. Dark n Stormy Knight Dec 2012 #29

**snap** I forgot to say "welcome to DU" 99th_Monkey Dec 2012 #30

here's why it's a dumb idea Vox Populi Dec 2012 #34

I trust Mr. Spitzer's expertise on this subject far more than I do yours 99th_Monkey Dec 2012 #64

Planned enforcement of the Stamp Act in America was met with a shrug. ieoeja Dec 2012 #45

The flat tax sulphurdunn Dec 2012 #23

Utterly absurd. Not one of your statements is even remotely true. n/t Egalitarian Thug Dec 2012 #32

you sound like a low-information teabagger Vox Populi Dec 2012 #35

Was there something confusing about "Not one of your statements is even remotely true"? Egalitarian Thug Dec 2012 #56

Post removed Post removed Dec 2012 #58

You post is there for all to see and I quoted it directly. Egalitarian Thug Dec 2012 #61

Your speculations are based on unsupported theory. bvar22 Dec 2012 #36

here's some facts Vox Populi Dec 2012 #38

Thank You for your Return Address!!!! bvar22 Dec 2012 #39

no, you don't Vox Populi Dec 2012 #40

Yes I do. Fair Game! bvar22 Dec 2012 #41

you don't make sense Vox Populi Dec 2012 #42

Admittedly, I was in error. bvar22 Dec 2012 #43

lol - are you some kind of conspiracy nut? Vox Populi Dec 2012 #44

2 Strawman Logical Fallacies in one post! bvar22 Dec 2012 #46

whatever Vox Populi Dec 2012 #47

You're "done" OK, bvar22 Dec 2012 #50

I agree with Vox Populi on his proposals. I also agree that the general attitude displayed AikidoSoul Dec 2012 #48

+1 Squinch Dec 2012 #52

thanks man Vox Populi Dec 2012 #54

Do you have any idea how many degrees and decades of experience you are poo-pooing Egalitarian Thug Dec 2012 #62

But if it were applied as described in the article, a fee for every $100 Squinch Dec 2012 #51

let me clarify Vox Populi Dec 2012 #55

So you are saying that it would be better to apply a fee on # of shares transacted than Squinch Dec 2012 #57

no - just that it has more chance of working Vox Populi Dec 2012 #59

Thanks! That does improve my understanding of this. And again, welcome. Squinch Dec 2012 #60

Bottomline ... 1StrongBlackMan Dec 2012 #14

YES!!! This should be self-evident and obvious to anyone 99th_Monkey Dec 2012 #15

Several Industrialized nations have such a tax; it's not hard to figure out. byeya Dec 2012 #17

I'd actually be more in favor of a tax hike on capital gains. 25% tax rate on gains over $100,000. Selatius Dec 2012 #18

No one is suggesting going back to previous years, when there was a difference in the tax owed.... northoftheborder Dec 2012 #24

I agree with you that rewarding longer term investments is a good idea AikidoSoul Dec 2012 #49

The market needs both to maintain liquidity, in my opinion. However... Selatius Dec 2012 #53

HUGE K & R !!! - Thank You !!! WillyT Dec 2012 #19

Neat and simple idea, Grey Dec 2012 #21

First heard about this from some nice nurses, a short time back. Octafish Dec 2012 #25

K+R limpyhobbler Dec 2012 #26

Maybe he good get Sen. Warren to sponsor this and dae Dec 2012 #27

A tax on financial transactions is self-evident PufPuf23 Dec 2012 #28

Even a .25% across-the-board federal transaction tax would be sufficient. Egalitarian Thug Dec 2012 #31

K&R. I wrote to my congresspeople saying that until this has been tried there is no reason at all to Overseas Dec 2012 #33

Meanwhile in Europe: EU Moves Ahead With Transaction Tax in Rejecting U.K. Changes pampango Dec 2012 #63