This bill, H.R. 1068 – nicknamed as ‘Let Wall Street Pay for Wall Street’s Bailout Act of 2009’ – would amend the Internal Revenue Code of 1986 to impose a tax on certain securities transactions to the extent required to recoup the net cost of the Troubled Asset Relief Program. Bad news for active traders. There is an online mechanism for writing your Congressional representative about this and other bills; shout out to Forex Factory for pointing that out and highlighting the issue.
I haven’t been trading for a while and few I spoke to said that January was a good month but Feb is terrible so far. One hasn’t been trading is thinking of going back ..
Clearly, Wall Street isn’t charm by neither the president (but his rating is sky high .. are we still in honeymoon?) nor his plans.