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 far.

Somehow, a group of economic and market dilettantes in DC got it in their heads that active traders are somehow responsible for the credit crisis that was actually caused by piggish bankers and out-to-lunch regulators.  Because the esteemed congressmen don’t seem to understand the vital importance of liquidity, they are proposing a tax of .25% on every single buy and sell made on the stock and bond exchanges.

With our still-fragile recovery just getting underway, nothing could possibly be more foolish than to make the buying and selling of financial assets MORE onerous.  Some pols get it, such as Charles Schumer, and are opposing the tax.  I’m utterly blown away at how backwards this idea is and I’m hoping that if you agree, you’ll add your name to the petition.

Visit DePorre’s Rally Congress site below:

Tell Congress to Block the Trader Tax

Here’s some of my previous commentary on this issue:

TRB on the Trader Tax

What's been said:

Discussions found on the web
  1. immediate edge reviews commented on Sep 19

    … [Trackback]

    […] Read More on on that Topic: thereformedbroker.com/2009/11/30/help-to-defeat-the-mindless-trader-tax/ […]

  2. Blazing Trader Review commented on Sep 22

    … [Trackback]

    […] Find More Information here to that Topic: thereformedbroker.com/2009/11/30/help-to-defeat-the-mindless-trader-tax/ […]

  3. blazing trader review 2020 commented on Sep 24

    … [Trackback]

    […] Read More here to that Topic: thereformedbroker.com/2009/11/30/help-to-defeat-the-mindless-trader-tax/ […]

  4. 사설토토 commented on Oct 17

    … [Trackback]

    […] Find More Info here to that Topic: thereformedbroker.com/2009/11/30/help-to-defeat-the-mindless-trader-tax/ […]

  5. Harold Jahn commented on Dec 19

    … [Trackback]

    […] Find More Info here on that Topic: thereformedbroker.com/2009/11/30/help-to-defeat-the-mindless-trader-tax/ […]

  6. Library commented on Dec 29

    … [Trackback]

    […] Here you will find 71632 more Info to that Topic: thereformedbroker.com/2009/11/30/help-to-defeat-the-mindless-trader-tax/ […]

  7. diamond painting commented on Dec 30

    … [Trackback]

    […] Read More here on that Topic: thereformedbroker.com/2009/11/30/help-to-defeat-the-mindless-trader-tax/ […]

  8. girl takes cbd for anxiety vlog commented on Jan 02

    … [Trackback]

    […] Information on that Topic: thereformedbroker.com/2009/11/30/help-to-defeat-the-mindless-trader-tax/ […]

  9. cibc online banking canada commented on Jan 26

    … [Trackback]

    […] Read More Info here to that Topic: thereformedbroker.com/2009/11/30/help-to-defeat-the-mindless-trader-tax/ […]

  10. Regression testing commented on Feb 07

    … [Trackback]

    […] Read More here to that Topic: thereformedbroker.com/2009/11/30/help-to-defeat-the-mindless-trader-tax/ […]