Comments on: Another Peter DeFazio Clip Of Him Trying To Justify The Inevitable Harmful Effects Of His Proposed Trader Tax http://www.timothysykes.com/2009/03/another-peter-defazio-clip-of-him-trying-to-justify-the-inevitable-harmful-effects-of-his-trader-tax/ How To Trade Penny Stocks Without The Stock Promoter BS Thu, 09 Feb 2012 06:11:00 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: GeithnerWatch http://www.timothysykes.com/2009/03/another-peter-defazio-clip-of-him-trying-to-justify-the-inevitable-harmful-effects-of-his-trader-tax/comment-page-1/#comment-39055 GeithnerWatch Wed, 25 Mar 2009 12:30:38 +0000 http://test.timothysykes.com/?p=4640#comment-39055 The tax would be absolutely awful for the online brokers - which are among the most stable financial institutions standing today. OXPS/SWIM/SCHW/AMTD never went overboard on subprime and are not taking taxpayer money! These brokers employ a lot of people and destroying their trading volumes would put them out of work! What about a 0.25% tax on the sweetheart deals the Treasury is setting up for hedge funds? The tax would be absolutely awful for the online brokers – which are among the most stable financial institutions standing today. OXPS/SWIM/SCHW/AMTD never went overboard on subprime and are not taking taxpayer money! These brokers employ a lot of people and destroying their trading volumes would put them out of work!

What about a 0.25% tax on the sweetheart deals the Treasury is setting up for hedge funds?

]]> By: GeithnerWatch http://www.timothysykes.com/2009/03/another-peter-defazio-clip-of-him-trying-to-justify-the-inevitable-harmful-effects-of-his-trader-tax/comment-page-1/#comment-82683 GeithnerWatch Wed, 25 Mar 2009 12:30:38 +0000 http://test.timothysykes.com/?p=4640#comment-82683 The tax would be absolutely awful for the online brokers - which are among the most stable financial institutions standing today. OXPS/SWIM/SCHW/AMTD never went overboard on subprime and are not taking taxpayer money! These brokers employ a lot of people and destroying their trading volumes would put them out of work! What about a 0.25% tax on the sweetheart deals the Treasury is setting up for hedge funds? The tax would be absolutely awful for the online brokers – which are among the most stable financial institutions standing today. OXPS/SWIM/SCHW/AMTD never went overboard on subprime and are not taking taxpayer money! These brokers employ a lot of people and destroying their trading volumes would put them out of work!

What about a 0.25% tax on the sweetheart deals the Treasury is setting up for hedge funds?

]]> By: Me http://www.timothysykes.com/2009/03/another-peter-defazio-clip-of-him-trying-to-justify-the-inevitable-harmful-effects-of-his-trader-tax/comment-page-1/#comment-39054 Me Wed, 25 Mar 2009 01:56:53 +0000 http://test.timothysykes.com/?p=4640#comment-39054 Sorry i made 2 comments, but I have to say that this would really hurt me as a day trader, it would destroy my profitability which is really small, 0.25% tax on each transaction. Are you kidding me? That is absurd, it's death to my business, and the business of most other traders out there who operate on slim margins. We have commissions and regular taxes to deal with, and this guy wants to throw another tax into the mix? Go after the villains of wall st who started this mess, not the honest trader who is struggling to make a living. Furthermore frequent trading is not "churning", however it may be speculative, but so is "investing", allow me to argue my case. "Investing" is just as speculative as frequent day trading because you don't know if the economy will go up or down, even if you are holding for many years, you have to trust that GDP will see growth, that businesses will flourish, and consumers will buy. There is no guarantee that an economy will be up in 10 years, not when you have corrupt politicians in office, and you're hearing about a new scandal on Wall st. on a weekly if not daily basis. Investing is just as speculative as trading, you put money on the line, and there's not certainty that your investments will see growth, not when CEO's lie, not when politicians do nothing to prevent these disasters in the first place. To invest you must have confidence that the economy will perform well over a given period of time, but how can you have that confidence with so much manipulation and corruption, I'm speaking about scandals like bear sterns, and people like Madoff who lied to his clients, these things happen they are very real. The economy game has changed, it's no longer an investors market, its a traders market, like the news anchor said in the interview, "your defending your position", why hold onto a losing stock? It's irrational, "long term view" or not, its just as speculative and risky as "Churning". Peter Defazio knows nothing about trading stocks, there is a reason why prices rise and fall, and with enough research you can develop profitable strategy, and know when to buy and when to sell, so who is this man to say what proper investing is. Sorry i made 2 comments, but I have to say that this would really hurt me as a day trader, it would destroy my profitability which is really small, 0.25% tax on each transaction. Are you kidding me? That is absurd, it’s death to my business, and the business of most other traders out there who operate on slim margins. We have commissions and regular taxes to deal with, and this guy wants to throw another tax into the mix? Go after the villains of wall st who started this mess, not the honest trader who is struggling to make a living. Furthermore frequent trading is not “churning”, however it may be speculative, but so is “investing”, allow me to argue my case. “Investing” is just as speculative as frequent day trading because you don’t know if the economy will go up or down, even if you are holding for many years, you have to trust that GDP will see growth, that businesses will flourish, and consumers will buy. There is no guarantee that an economy will be up in 10 years, not when you have corrupt politicians in office, and you’re hearing about a new scandal on Wall st. on a weekly if not daily basis. Investing is just as speculative as trading, you put money on the line, and there’s not certainty that your investments will see growth, not when CEO’s lie, not when politicians do nothing to prevent these disasters in the first place. To invest you must have confidence that the economy will perform well over a given period of time, but how can you have that confidence with so much manipulation and corruption, I’m speaking about scandals like bear sterns, and people like Madoff who lied to his clients, these things happen they are very real. The economy game has changed, it’s no longer an investors market, its a traders market, like the news anchor said in the interview, “your defending your position”, why hold onto a losing stock? It’s irrational, “long term view” or not, its just as speculative and risky as “Churning”. Peter Defazio knows nothing about trading stocks, there is a reason why prices rise and fall, and with enough research you can develop profitable strategy, and know when to buy and when to sell, so who is this man to say what proper investing is.

]]> By: Me http://www.timothysykes.com/2009/03/another-peter-defazio-clip-of-him-trying-to-justify-the-inevitable-harmful-effects-of-his-trader-tax/comment-page-1/#comment-82682 Me Wed, 25 Mar 2009 01:56:53 +0000 http://test.timothysykes.com/?p=4640#comment-82682 Sorry i made 2 comments, but I have to say that this would really hurt me as a day trader, it would destroy my profitability which is really small, 0.25% tax on each transaction. Are you kidding me? That is absurd, it's death to my business, and the business of most other traders out there who operate on slim margins. We have commissions and regular taxes to deal with, and this guy wants to throw another tax into the mix? Go after the villains of wall st who started this mess, not the honest trader who is struggling to make a living. Furthermore frequent trading is not "churning", however it may be speculative, but so is "investing", allow me to argue my case. "Investing" is just as speculative as frequent day trading because you don't know if the economy will go up or down, even if you are holding for many years, you have to trust that GDP will see growth, that businesses will flourish, and consumers will buy. There is no guarantee that an economy will be up in 10 years, not when you have corrupt politicians in office, and you're hearing about a new scandal on Wall st. on a weekly if not daily basis. Investing is just as speculative as trading, you put money on the line, and there's not certainty that your investments will see growth, not when CEO's lie, not when politicians do nothing to prevent these disasters in the first place. To invest you must have confidence that the economy will perform well over a given period of time, but how can you have that confidence with so much manipulation and corruption, I'm speaking about scandals like bear sterns, and people like Madoff who lied to his clients, these things happen they are very real. The economy game has changed, it's no longer an investors market, its a traders market, like the news anchor said in the interview, "your defending your position", why hold onto a losing stock? It's irrational, "long term view" or not, its just as speculative and risky as "Churning". Peter Defazio knows nothing about trading stocks, there is a reason why prices rise and fall, and with enough research you can develop profitable strategy, and know when to buy and when to sell, so who is this man to say what proper investing is. Sorry i made 2 comments, but I have to say that this would really hurt me as a day trader, it would destroy my profitability which is really small, 0.25% tax on each transaction. Are you kidding me? That is absurd, it’s death to my business, and the business of most other traders out there who operate on slim margins. We have commissions and regular taxes to deal with, and this guy wants to throw another tax into the mix? Go after the villains of wall st who started this mess, not the honest trader who is struggling to make a living. Furthermore frequent trading is not “churning”, however it may be speculative, but so is “investing”, allow me to argue my case. “Investing” is just as speculative as frequent day trading because you don’t know if the economy will go up or down, even if you are holding for many years, you have to trust that GDP will see growth, that businesses will flourish, and consumers will buy. There is no guarantee that an economy will be up in 10 years, not when you have corrupt politicians in office, and you’re hearing about a new scandal on Wall st. on a weekly if not daily basis. Investing is just as speculative as trading, you put money on the line, and there’s not certainty that your investments will see growth, not when CEO’s lie, not when politicians do nothing to prevent these disasters in the first place. To invest you must have confidence that the economy will perform well over a given period of time, but how can you have that confidence with so much manipulation and corruption, I’m speaking about scandals like bear sterns, and people like Madoff who lied to his clients, these things happen they are very real. The economy game has changed, it’s no longer an investors market, its a traders market, like the news anchor said in the interview, “your defending your position”, why hold onto a losing stock? It’s irrational, “long term view” or not, its just as speculative and risky as “Churning”. Peter Defazio knows nothing about trading stocks, there is a reason why prices rise and fall, and with enough research you can develop profitable strategy, and know when to buy and when to sell, so who is this man to say what proper investing is.

]]> By: Me http://www.timothysykes.com/2009/03/another-peter-defazio-clip-of-him-trying-to-justify-the-inevitable-harmful-effects-of-his-trader-tax/comment-page-1/#comment-39053 Me Wed, 25 Mar 2009 01:39:35 +0000 http://test.timothysykes.com/?p=4640#comment-39053 Ridiculous proposal, any news on if it looks like it will pass into a law? Ridiculous proposal, any news on if it looks like it will pass into a law?

]]> By: Me http://www.timothysykes.com/2009/03/another-peter-defazio-clip-of-him-trying-to-justify-the-inevitable-harmful-effects-of-his-trader-tax/comment-page-1/#comment-82681 Me Wed, 25 Mar 2009 01:39:35 +0000 http://test.timothysykes.com/?p=4640#comment-82681 Ridiculous proposal, any news on if it looks like it will pass into a law? Ridiculous proposal, any news on if it looks like it will pass into a law?

]]> By: Big T http://www.timothysykes.com/2009/03/another-peter-defazio-clip-of-him-trying-to-justify-the-inevitable-harmful-effects-of-his-trader-tax/comment-page-1/#comment-39052 Big T Tue, 24 Mar 2009 20:58:29 +0000 http://test.timothysykes.com/?p=4640#comment-39052 Of course, Pete is a typical politician, "do as I say, not as I do" yet proposes to completely ruin day traders over night like myself, while forcing firms (assuming they do not file for bankruptcy first) to raise commissions, a little known fact is that it cost John Q Public 50 bucks each way in the 1950s to buy and sell a stock, and now today 9.99 a trade each way seems expensive. These pols who do not trade or understand financial markets need to keep out of our lives and pocketbooks... Of course, Pete is a typical politician, “do as I say, not as I do” yet proposes to completely ruin day traders over night like myself, while forcing firms (assuming they do not file for bankruptcy first) to raise commissions, a little known fact is that it cost John Q Public 50 bucks each way in the 1950s to buy and sell a stock, and now today 9.99 a trade each way seems expensive.

These pols who do not trade or understand financial markets need to keep out of our lives and pocketbooks…

]]> By: Big T http://www.timothysykes.com/2009/03/another-peter-defazio-clip-of-him-trying-to-justify-the-inevitable-harmful-effects-of-his-trader-tax/comment-page-1/#comment-82680 Big T Tue, 24 Mar 2009 20:58:29 +0000 http://test.timothysykes.com/?p=4640#comment-82680 Of course, Pete is a typical politician, "do as I say, not as I do" yet proposes to completely ruin day traders over night like myself, while forcing firms (assuming they do not file for bankruptcy first) to raise commissions, a little known fact is that it cost John Q Public 50 bucks each way in the 1950s to buy and sell a stock, and now today 9.99 a trade each way seems expensive. These pols who do not trade or understand financial markets need to keep out of our lives and pocketbooks... Of course, Pete is a typical politician, “do as I say, not as I do” yet proposes to completely ruin day traders over night like myself, while forcing firms (assuming they do not file for bankruptcy first) to raise commissions, a little known fact is that it cost John Q Public 50 bucks each way in the 1950s to buy and sell a stock, and now today 9.99 a trade each way seems expensive.

These pols who do not trade or understand financial markets need to keep out of our lives and pocketbooks…

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