Robin Hood is coming one way or another. I am making no comment on 'right' or 'wrong' because I personally feel that we screwed the pooch under previous regimes, and under Wall Street's guidance for so long and to such a degree, that this has been fated since before the then Democrat congress and President Obama were swept into office in reaction to the excesses of what came before. Excesses that decimated the middle classes, while enriching our friends on and of Wall Street.
We are not talking about 'fair' or 'sustainable' or 'good' or 'evil'. We are talking about what is, and what has been slated as the corrective for what came before; that which enriched in my opinion way too many first abusers and people in powerful positions primed to capitalize on a rigged system. So now, maybe here it comes; one big and punitive 'corrective' measure.
I guess it means I will cut my personal trading way down, know what I buy and why I buy it; understand its value proposition and relax a little. Learn to live without the little perks that have attended the investor classes up to now.
I am not angry, because I have seen this and so much much more coming since I began spewing personal thoughts all over the internet years ago. A cool thing about doing so much work and being enmeshed in something with a geek's intensity is that you are not surprised and more than ready to make adjustments.
Tax Breaks for Capital Gains Threatened in Bipartisan Deficit-Cut Proposal
‘Rich People’ “If you can make wages look like capital gains, you’ve saved a lot of money, and that’s what rich people do,” he said. http://www.biiwii.blogspot.com