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World wide the tax only raises $38Billion in 40 countries total, if you're calculating it would raise $150B in the US alone, then looking at London as an example would be ridiculous since our tax revenues raised would be 150 times as large.
^^^ This is exactly why we tax the PROFIT of any sale and not the sale itself.
Yep, and any serious proposal that has come up to tax transactions actually abolished income taxes, so when these people calculate the revenues to be raised by taxing transactions, they fail to calculate the lost revenues due to not counting the profits any longer.
The stock would still be in the tank or stagnant if not for the continued practice of taxpayer subsidies through the QE programs.
Your money would be your money but any profits right now are largely because of taxpayer subsidies.
The QE programs arent being funded by the taxpayers, its being funded by the Federal Reserve, and since all of that money needs to be reversed at some point, are you suggesting the taxpayers should subsidize peoples losses?
The QE programs arent being funded by the taxpayers, its being funded by the Federal Reserve, and since all of that money needs to be reversed at some point, are you suggesting the taxpayers should subsidize peoples losses?
We did, did we not?
Taxpayers are paying for QE directly every day with higher prices.
No we didnt subsidize stock losses, the limit on losses = $3,000 a year.
Quote:
Originally Posted by pknopp
Taxpayers are paying for QE directly every day with higher prices.
Even non taxpayers are paying for it, but thats not the discussion. In fact since people are profiting from the QE at the moment, this will generate more revenues to the federal government, not less. Remember, we pay taxes on profits..
Taxpayers are paying for QE directly every day with higher prices.
The QE program is separate from stock ownership and deserves its own thread. Taxing the transfer of ownership doesn't control or directly impact the the fed. Maybe you should assess a special tax on the fed.
Under normal situations it works out fine, but clearly it didnt this time which is why the US Government had to bail them out or subject themself to tens of trillions in mortgage obligations.
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