Trader Tax or let traders and investors pay for TARP act of 2009!
Liberals are continuing their assault on investors, traders and the stock market. Peter DeFazio introduced the Let Wall Street Pay for Wall Street’s Bailout Act of 2009 bill in another utterly audacious attempt to stifle private enterprise. What is especially sad, the purpose of this bill as officially stated is to pay for TARP! TARP was shoved down our throats by the liberals, largely rejected by the GOP and force fed to the American public. This bill was introduced several weeks ago, but I am just learning about it now and someone that participates in the market find this to be repulsive and disgusting to the core. The way it will work, is to simply levy a .25% on every transaction. So let's say for example that you have a 200,000 account and make $1,000,000 worth of transactions, which is as easy as buying and selling several hundred shares of things like BIDU, APPL, IBM, etc. With this tax, you are paying an extra $2,500 win or lose! This is important, you can lose your shirt