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View Diary: Open thread for night owls: A stock transfer tax makes good sense (178 comments)

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  •  As Spitzer knows full well (0+ / 0-)

    Going in and out of a stock position within a given tax year is taxed as ordinary income. Every time.

    However.... you can need every single trade you make, which actually encourages taking bets because even the losers - especially even - have tax advantages.

    Were this not possible, you'd never see day trading.

    I know this because I tested a trading model that I developed. Did it work, well... I lost about 5% and that included transactions costs (and quite a lot of them) and pretty much proved to myself that buying to hold (and picking stocks on fundamentals) is the way to go.

    Had the law been, sorry CSK, you have to take the hit for all your individual gains and your losses are disallowed because they happened with in a year.. oops. I would not have done nearly so well on my experiment.

    •  you'd get a better return playing blackjack (0+ / 0-)

      in Vegas.

      •  Thing is there's no long-term happy trend (0+ / 0-)

        in anything on the horizon. Just decades of sideways.

        We've outgrown the planet.

        •  well, look on the bright side---- (0+ / 0-)

          Sooner or later we'll terraform Mars, move there---then ruin that too.

          I have a t-shirt that says, "Earth First! We can destroy the other planets later".

          I take comfort in the fact that in the end Mother Nature always wins.

          •  Mars is a farther from that time (0+ / 0-)

            than some might hope - maybe 2030s for a stunt landing.. 2050s for serious exploration.... and then...

            Well. How far we get to offworld settlement is a function of

            (a) how much resources can be devoted to the problem once dealing with ecological collapse here is taken out of the budget
            (b) whether or not human beings still exist in the 22nd century.

            •  No chance. (0+ / 0-)

              Mars is a LONG time away. I bet 100 years at best.

              The surface of mars is brutal. No nice airless place for a simple spacesuit to land on.

              The surface of mars is just horrific. Not to mention just getting through the atmosphere with anything big enough to carry people.

              Once again, no airless planet to land a tin can. That entry will be a nightmare.

              Yep, I bet 100 Years to get a man there. Now, if we just want to send a robot. Yea, 20-40 years maybe.

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