General Discussion

Bernardo de La Paz

(60,320 posts)

12. The figure of "A Quadrillion Dollars" is not wealth, it is volume. Yes, you're confused.

Fri Jul 26, 2013, 10:27 AM

Jul 2013

That is not wealth, because it is being counted many times over per day because it is traded at such a high frequency. It is much more liquidity than is necessary. It represents transactions worthy of being taxed; probably a majority of those transactions.

The total national wealth of the USA is about 58 trillion dollars. (http://www.federalreserve.gov/releases/z1/current/z1.pdf)

The article quite clearly calls it "trading volume" on the Chicago Mercantile Exchange. You are very confused to call it "wealth".

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5 Reasons It's Just Absurd That America Doesn't Tax Wall St's Transactions [View all] Junkdrawer Jul 2013 OP

Our president should not be criticized. East Coast Pirate Jul 2013 #1

Badda boom! 7962 Jul 2013 #3

Can we please stop the meta-discussions and meta-threads? Bernardo de La Paz Jul 2013 #4

Why don't you rein in your own spammers and see what happens? n/t Egalitarian Thug Jul 2013 #18

I don't own any spammers. Further, you don't know which side I'm on. Bernardo de La Paz Jul 2013 #28

Of course I do. You have made no attempt to hide your positions. Egalitarian Thug Jul 2013 #29

Ok, enough hijacking. Message me who my "confederates" are. I don't have any "confederates". Bernardo de La Paz Jul 2013 #31

How is this a criticism of Obama? (nt) Recursion Jul 2013 #32

I would agree with this if it were applied to HFT 7962 Jul 2013 #2

Right. I'm generally against FTTs but HFT is way out of hand. Bernardo de La Paz Jul 2013 #5

I think the tax could be tailored to go for HFT and large volume traders.... Junkdrawer Jul 2013 #13

+1 Bernardo de La Paz Jul 2013 #14

I admit I am biased against short sellers 7962 Jul 2013 #19

If I'm taxed for school clothes, why shouldn't I be taked for a stock purchase? michigandem58 Jul 2013 #6

School clothes are sold only once. Stocks are sold & resold many times. Taxing reduces liquidity. Bernardo de La Paz Jul 2013 #7

More stock transactions are made on behalf of wealthier Americans michigandem58 Jul 2013 #9

Tax the high frequency trading Bernardo de La Paz Jul 2013 #11

You are completely at odds with the op, I'm confused. toby jo Jul 2013 #10

The figure of "A Quadrillion Dollars" is not wealth, it is volume. Yes, you're confused. Bernardo de La Paz Jul 2013 #12

And therein lies the problem; not enough knowledge of the markets 7962 Jul 2013 #15

Excellent Insight Bunnahabhain Jul 2013 #22

School clothes can be resold over and over. Rex Jul 2013 #17

Oh come on now. Not in the retail market they cant. 7962 Jul 2013 #21

They can be, but aren't (be real). When they are (once) it's a private non-taxed transaction. Bernardo de La Paz Jul 2013 #23

I've bought plenty of second hand clothes from the salvation army. Rex Jul 2013 #25

You COULD make the argument that they are, though, 7962 Jul 2013 #35

True never thought about that but you can hold the actual certificate Rex Jul 2013 #38

Not really, the stock and the tax are separate 7962 Jul 2013 #39

Because the casino system has replaced investment. Taxing all transactions would push people Egalitarian Thug Jul 2013 #20

It would be so easy whatchamacallit Jul 2013 #8

Wait. They don't pay any fees for transactions? Rex Jul 2013 #16

Re: Wait. They don't pay any fees for transactions? Bernardo de La Paz Jul 2013 #24

Yeah not all of us have money to invest or a 401k Rex Jul 2013 #26

I didn't assume you have money to invest. Bernardo de La Paz Jul 2013 #27

+1 Bunnahabhain Jul 2013 #40

What financial transaction tax rate would be appropriate? Piedras Jul 2013 #30

.25% is the most commonly floated figure. Egalitarian Thug Jul 2013 #34

Cant agree with you on the last part 7962 Jul 2013 #36

I couldn't have demonstrated the point any more clearly if I were Samuel Clemens. Egalitarian Thug Jul 2013 #37

Great points. Elect a House who will pass a FTT (nt) Recursion Jul 2013 #33