About an extra nickel round trip:
Chicago Business - Futures Fee Floated, again
CH
CharterJoe
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Quote from that link
"(Crain's) - Chicago's futures industry can dust off, again, those press releases and position papers attacking a proposed federal transaction tax.
The Obama administration's detailed budget proposal released Thursday calls for a fee on futures and options on futures, which could add about a nickel to the cost of opening and closing a position.
Every President since Jimmy Carter has tried and failed to impose a transaction tax on futures trading, an idea that historically gets little traction in Congress."
It makes you wonder how perfect the timing was when they announced the desired .25% tax on each trade now its only a .05cents, I bet it was a game from the government that traders would sigh in relief and not fight it. We are going to be taxed to death.
"(Crain's) - Chicago's futures industry can dust off, again, those press releases and position papers attacking a proposed federal transaction tax.
The Obama administration's detailed budget proposal released Thursday calls for a fee on futures and options on futures, which could add about a nickel to the cost of opening and closing a position.
Every President since Jimmy Carter has tried and failed to impose a transaction tax on futures trading, an idea that historically gets little traction in Congress."
It makes you wonder how perfect the timing was when they announced the desired .25% tax on each trade now its only a .05cents, I bet it was a game from the government that traders would sigh in relief and not fight it. We are going to be taxed to death.