Well, 1/4 percent out plus 1/4 back in, so a half percent every time you turn over your portfolio, say 2.5 times a year, times ten years = 12.5%, right?
i still say the most effective means, are the inncent large organizations that will be hurt by thiis CME, charles Schwabb, IB etc, had nothing to do with the TARP business In the case of CME/IB, you're raising the transaction cost 40 times on an e-mini that's not an increase in cost, it's an end to it, becase people wont trade 1/40th as much they'll QUIT the principals on which the CME were created, farm commodity liquidity, werent created in the 1990s, or even the 1890s - they existed long before - there were ruinous grain liquity problems prior to these exchanges. not that industies PR should be taken only at face value, but society should at least glance at the freaking brochure (and ask 'is it true')before slamming a 140 year old industry out of existence and it cant exist without traders - period this proposal would put CME out of business - it cant exist without speculators - speculators are what give the commodities liquity - there's no substitute in my opinion CME actually IS manageing risk (by providing liquitiy) as it's supposed to do and if you take their law abiding participants out and shoot them, it cant provide that punction any more
Nah, America had it's day. It WAS great, now we are stuck in a mess that may not be fixable. I'm rooting for things to work out but I'm not putting all my eggs in one basket.
9500 dumb ass posts, dumping your asinine bullshit into every serious discussion - you dont even rate a decent troller - you're not clever, you're not original - you're just stupid and frequent fucking retard - on ignore
My portfolio is let's say $10,000. Daily tax is (0.25% + 0.25%) / 100 * $10,000 = $50 a day. Right? If I trade every day it's $50 * 250 trading days per year = $12,500. Why do I have over 100% of my capital in a year in my calculations? Where do we differ? What do you mean by "2.5 times a year"?
I was speaking of "active investors" who only turn their portfolio over a few times a year, not every day. Not too many people are sympathetic to "speculators" who trade every day, but there are lots of people who buy RIMM for a couple of months, then sell it and buy BIDU etc etc. I'm just saying that we need to point out this tax will cost them a lot too.
http://thomas.loc.gov/cgi-bin/query/z?c111:H.R.1068.IH: From above: subchapter c. tax on securities transactions'. (c) Effective Date- The amendments made by this section shall apply to sales occurring more than 30 days after the date of the enactment of this Act.