Tax a Foreclosure, Not a Trade

The recent talk of a transaction tax, has me sick to my stomach.

Make it harder for a home-owner to walk away from their mortgage. You can do this with policy, not a tax.

Make it harder for a lender to give a loan to somebody who can’t afford it. You can do this with policy, not a tax.

Tax irresponsibility. Tax stupidity. Tax the majority. Taxing a minority, is the easy way out, for a politician.

Grouping traders in with “Wall Street” and having them pay for the now re-paid bailouts, would be as dumb as lumping all Engineers with big Tobacco (because I’m sure there are Engineers, somewhere in Big Tobacco) and having them pay for the extra social strain caused by the people who choose to smoke and the people who facilitate it.

Irene Aldridge hit some good points, without even mentioning, the economies of scale traders contribute to when they purchase research, pay for news or buy technology.

And, as for the people who EVER compare trading to gambling, your nothing more than a ignorant uninformed, wannabe – who couldn’t make it as a trader. How, can I possibly, have 84% of my 304 trades during 2009, be in the green – if the ‘odds are actually independent of skill and education’? Especially, if I was net short domestic equities?