by large i mean, 0.5% or so, not a penny or something like that, even though that would still be a lot
Probably Bloomberg or Biden if I had to guess but ultimately the Democratic Party is trending socialist so nothing would surprise me
"Don't do this because it screws me and my very tiny part of the electorate who already aren't viewed very sympathetically anyway" isn't the optimal way to achieve what you want in a democracy. It's a bad idea for a lot of the broader impacts it will have on the market and economy that could potentially impact everyone. If you want to get any traction you have to focus on that, not how it impacts you personally, which in this case may actually motivate a lot of folks to support something they previously didn't care about, having the opposite of your intended effect!
Um I don't understand that, I'm a capitalist active trader and solely focused on my self interest and how much money I can keep making in my trades, to support my family and lifestyle.... I vote accordingly... go Trump! Or for dems biden or Bloomberg would be better than Bernie, who wants a ridiculous high .5% ftt
Actually I was trying to explain that even if you only care about your own self interest it's not in your self interest to attempt to convince others by complaining about how it impacts you....this being a democracy and all and our interest group being pretty small, miniscule really.
https://thehill.com/policy/finance/484433-financial-trade-tax-gains-traction-with-2020-democrats Former Vice President Joe Biden expressed support for an FTT in a December CNBC interview, and his campaign said that more details would be put forward when Biden releases a spending proposal that the tax would finance. Biden’s campaign said he would ensure that his FTT is designed so that it doesn’t affect low- and middle-income taxpayers. All of the frontrunners have come out in support of a FTT, but I found this comment from Biden to be interesting. Details are sketchy, but it appears that he might support an exemption for a large portion of retail traders. It would be really interesting to see an environment where institutional HFT disappears and retail trading survives.
If they kill HFT in gonna become the unabomber cause I just put in several years of work to get my system live and I'm not rich yet
To turn lemons into lemonade....think about market distortions. They produce opportunity. If this happens, which I think is highly unlikely but let's assume it does, it will be a massive market distortion. What are the opportunities that presents? What are the opportunities that presents to a smart algo developer who has had time to think about it for a while and do some work around it before it happens? There may actually be opportunity here for you?
well, the "Biden" exclusion may still apply to small time HFT shops. This is interesting, and ultimately what I feel any dem. candidate would end up compromising to. I feel Bernie, Warren, and others either pander by making blanket generalizations of all traders as culpable in the '09 blow out, or are ignorant of the havoc such fees would mean. Once in & advised, they're likely to find middle ground and understand the feasibility & impact of their proposals (much like Obama did about Guantanamo & Trump did about DACA, NAFTA, & border shut down)