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Politics : Foreign Affairs Discussion Group -- Ignore unavailable to you. Want to Upgrade?

To: c.hinton who wrote (255885)	2/3/2008 12:51:44 PM
From: bentway	Read Replies (1) \| Respond to of 281500

Besides that, people just look down on daytraders who use their work-provided computers and internet connections to trade stocks. I used to do it, and work in a coding sweatshop full of cubed up engineers doing the same thing. Some of us daytraded all morning and worked in the afternoons. Some of us worked in the mornings and daytraded in the afternoons. Some of us didn't work at all and daytraded all day - these were the guys who had decided that they were stock trading geniuses in the 90's bull market. They figured fi they got laid off or fired, they'd just make more money.

To: c.hinton who wrote (255885)	2/3/2008 11:59:06 PM
From: Elroy	Read Replies (1) \| Respond to of 281500

Sorry elroy ..its still a story of fostering longer term investments and you have to draw a line somewhere. 2 things. 1 - It's a fact that you don't NEED TO tax long term and short term capital gains differently. Tax them identically, and they will be taxed identically, and that will be that. In this case, you DO NOT need to draw a line. So stop saying that you do. 2 - If you think there is some benefit to society for taxing stocks held more than one year less than stocks held less than one year, please make the case. Why is that so beneficial?