Whether we like it or not, the stock market is important to the average American, maybe moreso than ever in our nation’s history. All Americans are de facto participants and beneficiaries of healthy markets whether directly or indirectly, as investors or corporate employees, and Senator Charles Schumer gets it. I applaud the Senator’s opposition to the…
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Droppin' Knowledge: Rich Masino on Investor Tax Injustices
“While we’re on the subject, I’d like to weigh in on this subject of a financial transaction tax. Simply put, it’s indefensible, and it exhibits a terribly flawed logic that would be akin to taxing a merchant on top-line sales in addition to bottom-line profit.” – Rich Masino
Burton Malkiel: Proponents of a Transactions Tax Misunderstand How Markets Work
“Don’t tax you, don’t tax me, tax that fellow behind the tree.”
Help to Defeat the Mindless Trader Tax
There’s a petition online to oppose the so-called Trader Tax bill (H.R. 1068, also known as the “Let Wall Street Pay for Wall Street’s Bailout Act of 2009“). James “Rev Shark” DePorre (a professional trader and columnist for TheStreet.com) has collected over 30,000 signatures and over 60,000 letters and emails have gone to congress so…
A Rational Objection to the Trader Tax from Eric Jackson
Traders around the country are erupting in furor over Jim Cramer’s unfortunate comments in support of the proposed Trader Tax. Speaking on CNBC in his regular shoot-from-the-hip slot, Cramer basically said what amounted to “why not?” when asked about the Democrats’ backward idea to extract a percentage of every transaction on the markets. I read…
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