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The Basement
Germans buying NYSE?
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<blockquote data-quote="John Roberts" data-source="post: 19094" data-attributes="member: 126"><p>Re: Germans buying NYSE?</p><p></p><p>To get serious for a minute (who me?)... I don't care who owns the exchanges (bourses), as long as they are operated fairly and honestly. </p><p></p><p>I have been invested in the stock market since the early '70s and today it is more liquid and we have better access to information. On the downside, I really don't like the games going on with high speed trading. The stock markets serve a very useful purpose in giving business access to individual's capital, and allowing individuals to share in the success of these larger businesses. I don't see how high speed (flash) trading contributes to this beneficial transaction, but conversely I see a way for slick individuals to game short term imbalances in the market to siphon wealth out of the system, away from individuals and business alike. </p><p></p><p>I do not care for taxes but in this case I would make an exception. We already have a capital gains tax... why not structure this tax along similar lines to the already existing distinction between short term and long term capital gains, to have another even higher rate for "very" short term capital gains. Where the tax rate increases inversely with the smaller the hold time. If the flash traders are paying an onerous tax rate, they might have to come up with a different way to make money, and we would all win. On the long term side maybe adjust those long term gains for inflation so we don't get hosed twice. </p><p></p><p>or not.... </p><p></p><p>JR</p></blockquote><p></p>
[QUOTE="John Roberts, post: 19094, member: 126"] Re: Germans buying NYSE? To get serious for a minute (who me?)... I don't care who owns the exchanges (bourses), as long as they are operated fairly and honestly. I have been invested in the stock market since the early '70s and today it is more liquid and we have better access to information. On the downside, I really don't like the games going on with high speed trading. The stock markets serve a very useful purpose in giving business access to individual's capital, and allowing individuals to share in the success of these larger businesses. I don't see how high speed (flash) trading contributes to this beneficial transaction, but conversely I see a way for slick individuals to game short term imbalances in the market to siphon wealth out of the system, away from individuals and business alike. I do not care for taxes but in this case I would make an exception. We already have a capital gains tax... why not structure this tax along similar lines to the already existing distinction between short term and long term capital gains, to have another even higher rate for "very" short term capital gains. Where the tax rate increases inversely with the smaller the hold time. If the flash traders are paying an onerous tax rate, they might have to come up with a different way to make money, and we would all win. On the long term side maybe adjust those long term gains for inflation so we don't get hosed twice. or not.... JR [/QUOTE]
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