financial transaction tax | Traders Hideout - futures trading strategies, market news, trading charts and platforms

Traders Hideout

Discuss day trading practices and futures trading strategies on this forum for all markets. This forum is also for discussing and reviews for brokers, data feeds, and commercial or third party add-ons


financial transaction tax

  #21 (permalink)

Don't Poke The Bear!
Los Angeles, California Republic
Trading Experience: None
Platform: Sierra Chart
Broker/Data: CQG
Favorite Futures: ES
srgtroy's Avatar
Posts: 1,719 since Jan 2011
Thanks: 1,122 given, 2,869 received

canoekoh View Post
as FTT news is thrust in front of the public more and more, it will gradually gather momentum and support among the public, whose conception of a FTT amounts to little more than a "extra tax for the rich!"

and it's especially troubling for the US to implement FTT b/c the US often serves as model for other countries in terms of financial regulations.

and what's sad is Wall Street will happily accept FTT b/c they will be the ones to receive exemptions. they have to, unless you want capital markets with no MM aka no liquidity, which no politician is going to want. given how much our pensions are invested in such instruments, you have to give exemptions to Wall Street no matter what.

it's the retail traders that will be absolutely crushed to pieces by this. day after day, Democrats make it harder for me to vote for them even when the alternative is so unappealing.

Wall Street will fight it tooth and nail. They told Hillary in 2016 that she would lose their support if she backed the FTT so she dropped it. An FTT that only applied to retail traders wouldn't bring in a dime of revenue.

Know The Rules Well So You Can Break Them Effectively
Reply With Quote
The following user says Thank You to srgtroy for this post: