General Discussion

eggplant

(4,208 posts)

7. The bill is about stock trading only.

Wed Mar 6, 2013, 12:55 AM

Mar 2013

"It would apply to traded stocks and bonds, derivative contracts, options, puts, forward contracts, swaps and other complex Wall Street instruments. It would not cover the initial issuance of any stocks or bonds, nor covers or loans in the form of stock."

http://www.thenation.com/blog/173134/financial-transactions-tax-introduced-again-can-it-pass-time#

Basically, this taxes high-frequency traders, who are the ones responsible for all sorts of wall street insanity. It is that group that lobbied so hard against this the last time.

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"It�s time to tax financial transactions" [View all] applegrove Mar 2013 OP

K&R Squinch Mar 2013 #1

slow the computers down and a gallon of gas would go down to $0.75 rabid_byter Mar 2013 #2

you said it! hollysmom Mar 2013 #3

�Nothing can resist an idea whose time has come.� Well I bet Congress can resist an rhett o rick Mar 2013 #4

Financial transactions? Silver Swan Mar 2013 #5

The bill is about stock trading only. eggplant Mar 2013 #7

Lets get smart and make it a $1 on every $100 airplaneman Mar 2013 #6

It's better than that tkmorris Mar 2013 #8

Just look at what 401K managers do to our accounts. airplaneman Mar 2013 #11

That would be nineteen50 Mar 2013 #9

11 countries in the EU including France and Germany have just started this. Now would be pampango Mar 2013 #10

Oh Noes!!11! It will be the end of capitalism!! progressoid Mar 2013 #12