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Wait until you see the massive volitility that comes along with the massive decrease in volume this idiotic bill would produce. On top of that, New York would cease being the worlds financial center in about 2 seconds flat. You think someone can't just as easily trade stocks in Hong Kong or London? Therefore, it would only work if it were imposed internationally and there just aren't enough stupid countries out there for that to happen.
Thankfully, this bill is only being supported by a few fringe players and Giethner has openly critized it. I'm not worried personally since they still haven't done anything with the uptick rule and thats a layup compared to this nonsense.
I won't back down off my support for the Taxing Wall Street to Pay for the Restoration of Main Street.
Quote:
Originally Posted by southward bound
Do you really think that "taxing Wall Street" will benefit "Main Street" ??
Even after all that has been posted here?
It's ok people, the OP seems to be what we call one of those Moderator cut: do NOT call other posters names!who don't understand cause-and-effect. Probably took out a sub-prime loan as well.
Try to tax Wall Street, and we'll pass those expenses to the middle class in terms of higher mutual fund expense ratios, higher brokerage commission fees, etc.
Last edited by katzenfreund; 11-28-2009 at 12:19 PM..
It's ok people, the OP seems to be what we call one of those Moderator cut: do not call other posters names! who don't understand cause-and-effect. Probably took out a sub-prime loan as well.
Try to tax Wall Street, and we'll pass those expenses to the middle class in terms of higher mutual fund expense ratios, higher brokerage commission fees, etc.
Riiiight because the middle class is doing so well, they're investing in Wall Street.
Last edited by katzenfreund; 11-28-2009 at 12:20 PM..
Riiiight because the middle class is doing so well, they're investing in Wall Street.
The middle class ALWAYS invests into Wall Street, both directly, and indirectly. Where do you think their 401K's, pensions, insurance proceeds get invested?
Riiiight because the middle class is doing so well, they're investing in Wall Street.
Quote:
Originally Posted by pghquest
The middle class ALWAYS invests into Wall Street, both directly, and indirectly. Where do you think their 401K's, pensions, insurance proceeds get invested?
I'm always amazed at the perception some people have that only the so-called "rich" invest their money. Anybody who is smart will make sure to put aside at least some money to invest.
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