Tuesday, March 3, 2009

Trader Tax

One important issue we all may have to deal soon. I completely agree with Gail.

Just found your site last week and am very impressed - keep up the good work!
I wanted to make you aware of something that you might want to post to your community and other fellow traders.
A Congressman from Oregon has introduced a bill that would impose a transaction tax of 0.25% on sales/purchases of stocks/options/futures. I am enclosing a link to a petition that has been started against this tax, a link to the Congressman's contact info, and a link to info on the bill and other sponsors. The Congressman wants Wall Street fat cats to pay for what they are doing by implementing this tax to help reimburse TARP. He amazingly doesn't realize (or doesn't care) what this would do to the average person who is starting to take control of their portfolio or trying to recoup losses by trading (since this would impact transactions even losses would be taxed not just profits).
Hope you find this info helpful and please pass it along.

No trader tax



Baton Rouge
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