The rich just got richer

[Captain Oates 911]

The stock market has soared in the last month. It's the highest percentage gain in one month.

My wife is a top professional in her field and I made more in the last 4 weeks then she makes in a year.

....and mine is tax free

I hope nobody thinks I should be taxed on it.. after all that would discourage my entrepreneurship

I have lots of PUT options underneaths my positions so I cant lose much of it at all if the market goes down

I am not a 1% person but jeez I can see those guys could shoulder a small tax hike with no problem because the system is built for people with capital. In the UK I paid $200 tax on most stock transactions (stamp duty) - in the US it is zero and I can go in and out of the market with 100k and it costs $7 each leg ! Its a capitalists paradise for sure.

I am too tight to spend it, so my daughter who lives in council house in England will scoop the pool eventually - again tax free - now that's what I call redistribution !

[dalegg 143]

That's good for them. I'm sure the Occupy folks' trash talk has been dampening their spirits, so at least they can end the month on a good note.

Edited October 28, 2011 by dalegg

[웃 910]

... and I can go in and out of the market with 100k and it costs $7 each leg ! Its a capitalists paradise for sure.

I can go in and out for $2.95 each leg!

They did raise their rates to $3.95 a leg about a year ago but I am locked in for the rest of my life at the old rate

Actually a very clean platform...

http://optionshouse.com/rates/

Dear Nathan,

I want to let you know about a change we'll be making to our stock pricing shortly. This change affects new customers only and your rates, therefore, will not be affected. However, I want to update you on these changes in the event that you see this new stock rate on our website or advertised in the marketplace.

On Thursday, January 13th, 2011, after market close, we will Introduce a new stock commission rate of $3.95, for new customers. And, as a valued customer, I'm pleased to inform you that your existing $2.95 stock rate will not be changing.

Here's a quick summary of what's happening:

• Your stock rate of $2.95 is not changing
• This $2.95 stock rate is applicable for all of your accounts
• You will also get the $2.95 stock rate for all future accounts
• There is no action required to keep the $2.95 stock rate
• And, there will be no changes to your options pricing

Once again, there is no action required on your part to keep the $2.95 stock rate. This stock rate will remain active in your account(s).

Sincerely,

George Ruhana

[slim 1,533]

I can see those guys could shoulder a small tax hike with no problem

Why would they? They already pay more than everyone else.

[I AM NOT THAT GUY 5,715]

It's still in the doldrums. When the DJIA crosses 12,800 and keeps going up, then we can talk about a recovery, and the rich getting richer.

http://finance.yahoo.com/echarts?s=%5Edji+interactive#symbol=%5Edji;range=1y;compare=;indicator=volume;charttype=area;crosshair=on;ohlcvalues=0;logscale=off;source=;

Edited October 28, 2011 by Crusty Old Perv

[OnMyWayID 1,489]

The stock market has soared in the last month. It's the highest percentage gain in one month.

My wife is a top professional in her field and I made more in the last 4 weeks then she makes in a year.

....and mine is tax free

I hope nobody thinks I should be taxed on it.. after all that would discourage my entrepreneurship

I have lots of PUT options underneaths my positions so I cant lose much of it at all if the market goes down

I am not a 1% person but jeez I can see those guys could shoulder a small tax hike with no problem because the system is built for people with capital. In the UK I paid $200 tax on most stock transactions (stamp duty) - in the US it is zero and I can go in and out of the market with 100k and it costs $7 each leg ! Its a capitalists paradise for sure.

I am too tight to spend it, so my daughter who lives in council house in England will scoop the pool eventually - again tax free - now that's what I call redistribution !

I am happy you made some money in the last month.. So did millions with 401Ks and such.. I'm not sure where you claim it as tax-free though.. Last time I sold stock at a profit it was considered income and I paid tax... when I sold stock and lost a bunch of money I was able to write it off..

As far as transaction fees they *SHOULD* be low! If every stock transaction was taxed at $200 dollars the little guy would have a much harder time getting started. Tax the profit only..

.... oh and tell all your British friends about how easy it is to make money in the market here

[Danno 1,228]

Why would they? They already pay more than everyone else.

And the problem is not insufficient tax revenue, it's excessive spending, a tax hike on anyone before serious cuts are made just adds to the illusion that we don't need massive change.

[Gary and Alla 3,694]

So do Dems think this is good news or bad news?

so much for "Occupy Wall Street" But then it could be good for them, more rich people to pay more taxes to support the freeloaders. Should be good news.