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 taxation on the “sale in addition to buy of fiscal instruments such equally stock, options, in addition to futures.
Ladies in addition to gentlemen, 0.25% is 50 footing points round-trip. Few if whatever statistical arbitrage strategies tin endure this transaction tax.
And no, this is non "Wall Street paying for Wall Street's Bailout". This is small-time independent trader-entrepreneur similar ourselves paying for Wall Street's Bailout.
Furthermore, this taxation volition drain the U.S.A. marketplace of liquidity, in addition to ultimately volition toll every investor, long or curt term, a far greater transaction toll than 0.25%.
If you lot desire to halt this insanity, delight sign this online petition.
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