You may have heard that US congressman Peter DeFazio introduced H.R. 1068 “Let Wall Street Pay for Wall Street’s Bailout Act of 2009” which seeks to impose a .25% transaction tax on the sale and purchase of financial instruments such as stocks, options and futures in order to recoup bailout costs. <\/p>\n
This bill would essentially halt most shorter term trading, greatly decreasing market liquidity not to mention putting many out of business. This bill would be an absolute disaster.. For example, on a roundtrip trade of 100 shares of Google you’d be hit with a $170 tax bill! You better believe these higher costs will be passed through in mutual funds as well. <\/p>\n
This page makes it easy to sign a petition and send an email to your congressman\/congresswoman urging them to vote no on this.<\/p>\n
http:\/\/www.rallycongress.com\/no2tradertax\/1536\/tell-congres-to-block-trader-tax\/<\/p>\n
Here’s a link to contact Peter Defazio directly<\/a><\/p>\n Track the progress of this bill here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" You may have heard that US congressman Peter DeFazio introduced H.R. 1068 “Let Wall Street Pay for Wall Street’s Bailout Act of 2009” which seeks to impose a .25% transaction tax on the sale and purchase of financial instruments such as stocks, options and futures in order to recoup bailout costs. This bill would essentially … Continue reading Block The Trader Tax Bill HR 1068<\/span>