Rough week in the stock market...

True, unless it's a 401k and you buy in with pretax dollars

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Originally Posted by m>s

True, unless it's a 401k and you buy in with pretax dollars

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He's proposing a sales tax on all trades.

If you buy in with pre-tax dollars, that just means the money you're using to purchase hasn't be subjected to personal income taxes yet... but you're still getting hit with bouton's proposed tax eventually regardless.

For example, if you buy a share of IBM, you pay:

1.) Sales tax on initial purchase of the IBM share (a tax paid directly by you).
2.) Income tax on income of IBM which you own a share of (a tax paid by IBM, affecting amount of income available to you)
3.) Distribution of IBM's income from IBM directly to you (a tax paid directly by you)

FYI - A Roth 401K avoids taxes on dividends but you can only use AFTER-tax dollars in one of those.

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Originally Posted by DMX7

He's proposing a sales tax on all trades.

If you buy in with pre-tax dollars, that just means the money you're using to purchase hasn't be subjected to personal income taxes yet... but you're still getting hit with bouton's proposed tax eventually regardless.

For example, if you buy a share of IBM, you pay:

1.) Sales tax on initial purchase of the IBM share (a tax paid directly by you).
2.) Income tax on income of IBM which you own a share of (a tax paid by IBM, affecting amount of income available to you)
3.) Distribution of IBM's income from IBM directly to you (a tax paid directly by you)

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You just drew up a boutons proposal, lol. Looks even more batshit insane spelled out this way. That guy is a dangerous lunatic

http://media.giphy.com/media/ToMjGpQ...uV1u/giphy.gif

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Originally Posted by Aztecfan03

It isn't a good or service, so why exactly should it be taxed with a sales tax?

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why not? it's a non-essential "thing" (it ain't food, etc) so tax its sale. NY state and NYC city sales taxes are sky high, so why 1% or 2% of stock trades? why the fuck not?

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Originally Posted by boutons_deux

why not? it's a non-essential "thing" (it ain't food, etc) so tax its sale. NY state and NYC city sales taxes are sky high, so why 1% or 2% of stock trades? why the fuck not?

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So is this tax you're proposing a state tax or a federal tax? And are all equity investments going to be subject to this tax? Bad news for small businesses, if so.

I would rather cap the amount of income that is subject to special qualified dividend income tax rates.

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Originally Posted by DMX7

Why should it be taxed? As someone else has already stated, it's not a good or service (i.e., some type of end-product)

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a product is being exchanged, sold/bought, money changes hands, why shouldn't it be taxed? an share is definitely a THANG

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Originally Posted by DMX7

You're completely right about that, but small time investors who are forced to sell for immediate cash aren't really the primary drivers of prices imho. Institutional investors drive prices the most.

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But Many small investors enter the market through institutional investors.
The real point though was having to sell to pay bills, not because you thought the investment was bad. You just can't afford to see it go any lower and then rebound.

Agreed though.

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Originally Posted by boutons_deux

a product is being exchanged, sold/bought, money changes hands, why shouldn't it be taxed? an share is definitely a THANG

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So when you convert dollars into Euros it should be taxed because they are things?

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Originally Posted by pgardn

So when you convert dollars into Euros it should be taxed because they are things?

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why not? there is certainly bank service fee.

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Originally Posted by boutons_deux

why not? there is certainly bank service fee.

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Its a great way to inhibit travel I guess.

Now do we tax our government banks who make these exchanges?

*cue Accountants lathering up while Boots institutes new tax rules*

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Originally Posted by pgardn

Its a great way to inhibit travel I guess.

Now do we tax our government banks who make these exchanges?

*cue Accountants lathering up while Boots institutes new tax rules*

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bank money changing fee income is taxed as their general income, I guess.

The income is already taxes at the corporate tax rate in the first place, and then you pay a second tax on capital gains. Why would there need to be a third tax? Eliminate capital gains if you want a sales tax. You're literally taxing the income generated by the company 3 times

Lost 6K today. Nice

never had it never sold it just on paper
should have sold it last week

Rebounding today

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Originally Posted by hater

down 25k on my portfolio

it'll bounce back, not worried here

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As I was saying.....

Hail Victory kameraden, this economic news sure is exciting for our prospects

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Originally Posted by hater

As I was saying.....

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I won the losses contest.
I don't think people are fessing up.

Did we just all decide to stop watching?

Pretty weak ass "rebound", lol.

I took my hit and went mostly cash two weeks ago saved myself another 10K in losses. Still sitting on a few thousand shares of one LNG stock that is way down with oil but I'm in that one for the long haul. If oil drops to $32 and takes that stock with it some more I'm gonna load up like I'm Daddy Warbucks.

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Originally Posted by DMX7

Pretty weak ass "rebound", lol.

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yep, so much for the morning rebound...