General Discussion

7962

(11,841 posts)

21. Oh come on now. Not in the retail market they cant.

Fri Jul 26, 2013, 01:55 PM

Jul 2013

You dont buy stock at a garage sale either. The profit on the sale of clothes is taxed once. And unless you're using a consignment shop as an example, thats the only tax paid.
There is no profit made until a stock is sold. Until then its just a number on a page. And dont count your chickens before they hatch definitely applies to stocks. Dont count your profits till you SELL. But the same shares can be sold many times, creating many taxable gains if its moving higher.

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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