Transaction Tax Buried in the Fine Print !
 

http://www.greencompany.com/Educatio...blog011409.pdf

This can't be pretty. Traders in general need to wake up for this one!

I am rattling some cages in DC and making preliminary preparations to go offshore... suggest you do the same...

Re: Transaction Tax Buried in the Fine Print !
 

How does a trader do business offshore?

If a trader residing in the US trades the Dax or ESTX50, would the transaction tax still apply?

Re: Transaction Tax Buried in the Fine Print !
 

I was under the impression that as long as you were a U.S. citizen you paid U.S. taxes regardless of where your trading occurs, the securities traded, or your accounts held?

Re: Transaction Tax Buried in the Fine Print !
 

Your statement is true and honest people should pay their taxes. However, offshore accounts/companies are not required to report your trading to the IRS. So it is fairly easy to hide. There are several ways to do this, some legal and some not.

WAKEUP CALL! Transaction Tax Buried in the Fine Print !
 

Let's not get distracted re offshore! Not everyone can go off shore.
Instead, if this passes, many many traders will go out of business!
:helloooo:
Want to pay a huge tax on the face value of each of your trades AND continue to pay taxes on your profits too?
This is hidden under the TARP folks
http://www.rules.house.gov/111/Amndm...r384_welch.pdf

:bad idea:

If you can make an eloquent case please contact your reps and the reps behind this
https://writerep.house.gov/writerep/welcome.shtml

Re: Transaction Tax Buried in the Fine Print !
 

Oh hey i'm all for you about the transaction tax. I've already contacted my reps. I just don't know how I could get around it legally.

Re: Transaction Tax Buried in the Fine Print !
 

How about trading from a Roth IRA--would that get around the tax?
Tasuki

Re: Transaction Tax Buried in the Fine Print !
 

NO. It is proposed to be a transaction tax that will be charged on the trade as a fee.