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Friday, February 20, 2009

Tell Congress to Block the Trader Tax

I've had multiple people email this to me...here is what Anarco said:

One more thing to add to the many ridiculous things that are going on right now: a congressman is trying to pass a law that would impose a 0.25% transaction tax on traders and investors. If this comes to pass, it will have a huge impact on traders like us. Please sign the petition to say no to this. Thanks!

Sign the petition here.

I will post a few charts over the weekend. Looks like we could have an historic close on the markets; then again, we could also have a late-day bounce.

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1 comment:

addtrader said...

Hi X,

Don't know if you are aware of this proposed tax on trades that would basically put all us day traders out of business.

"U.S. Congressman Peter DeFazio, introduced H.R. 1068: “Let Wall Street Pay for Wall Street's Bailout Act of 2009”, which aims to impose a 0.25% transaction tax on the “sale and purchase of financial instruments such as stock, options, and futures."

This tax is on the TRANSACTION AMOUNT, regardless of profit or loss. Just a heads up. Please spread the word if you think needed.

Formerly ADD Trader