Tell Congress to Block the Trader Tax

38,802 People Have Sent 76,600 Letters and Emails

Sign the Petition

Some recent comments: these messages are published with permission of the signer.

Total Signers: 38,802    View More: 389 388 387 386 385 384 383 382 381 380 379 378 377 376 375 374 373 372 371 370 369 368 367 366 365 364 363 362 361 360 359 358 357 356 355 354 353 352 351 350 349 348 347 346 345 344 343 342 341 340 339 338 337 336 335 334 333 332 331 330 329 328 327 326 325 324 323 322 321 320 319 318 317 316 315 314 313 312 311 310 309 308 307 306 305 304 303 302 301 300 299 298 297 296 295 294 293 292 291 290 289 288 287 286 285 284 283 282 281 280 279 278 277 276 275 274 273 272 271 270 269 268 267 266 265 264 263 262    261 260 259 258 257 256 255 254 253 252 251 250 249 248 247 246 245 244 243 242 241 240 239 238 237 236 235 234 233 232 231 230 229 228 227 226 225 224 223 222 221 220 219 218 217 216 215 214 213 212 211 210 209 208 207 206 205 204 203 202 201 200 199 198 197 196 195 194 193 192 191 190 189 188 187 186 185 184 183 182 181 180 179 178 177 176 175 174 173 172 171 170 169 168 167 166 165 164 163 162 161 160 159 158 157 156 155 154 153 152 151 150 149 148 147 146 145 144 143 142 141 140 139 138 137 136 135 134 133 132 131 130 129 128 127 126 125 124 123 122 121 120 119 118 117 116 115 114 113 112 111 110 109 108 107 106 105 104 103 102 101 100 99 98 97 96 95 94 93 92 91 90 89 88 87 86 85 84 83 82 81 80 79 78 77 76 75 74 73 72 71 70 69 68 67 66 65 64 63 62 61 60 59 58 57 56 55 54 53 52 51 50 49 48 47 46 45 44 43 42 41 40 39 38 37 36 35 34 33 32 31 30 29 28 27 26 25 24 23 22 21 20 19 18 17 16 15 14 13 12 11 10 9 8 7 6 5 4 3 2 1

  1. Sun., Mar. 15, 2009 1:53 PM    link Hank W. | Mahwah, NJ

  2. Sun., Mar. 15, 2009 1:10 PM    link tim s. | Raritan, NJ

  3. Sun., Mar. 15, 2009 1:04 PM    link Name not displayed | Trenton, NJ

  4. Sun., Mar. 15, 2009 1:02 PM    link Name not displayed | Ames, IA

  5. Sun., Mar. 15, 2009 12:56 PM    link Name not displayed | Seal Beach, CA

  6. Sun., Mar. 15, 2009 12:46 PM    link Name not displayed | Pine Island, MN

  7. Sun., Mar. 15, 2009 12:37 PM    link Name not displayed | Lawrenceburg, IN

    I afraid these recent proposed taxes are just the tip of the iceburg. ultimately it's the consumer who pays them, whether it be the person trading stocks or the mother picking up milk for the kids.

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  9. Sun., Mar. 15, 2009 12:36 PM    link Paul H. | Simpsonville, KY

    Double taxation. Tax the transaction and tax any gains. This is wrong on so many levels

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  11. Sun., Mar. 15, 2009 12:27 PM    link Priya S. | Tracy, CA

  12. Sun., Mar. 15, 2009 12:26 PM    link meena S. | Tracy, CA

  13. Sun., Mar. 15, 2009 12:24 PM    link Sai S. | Tracy, CA

  14. Sun., Mar. 15, 2009 12:08 PM    link Steven L. | Littleton, CO

  15. Sun., Mar. 15, 2009 12:07 PM    link Mark C. | Sunnyvale, CA

  16. Sun., Mar. 15, 2009 12:04 PM    link Name not displayed | Willmar, MN

  17. Sun., Mar. 15, 2009 11:39 AM    link doug b. | Goldsboro, NC

    We already have a supply vs. demand issue for stocks in general. This would force more buyers out of the market causing further delay for any rebounds in the future

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  19. Sun., Mar. 15, 2009 11:36 AM    link Name not displayed | Indianapolis, IN

  20. Sun., Mar. 15, 2009 11:35 AM    link Dan M. | Arlington, TX

    Vote NO on H.R. 1068. Just another misguided,uninformed knee-jerk reaction against Traders that will do nothing but stifle the liquidity of the market.

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  22. Sun., Mar. 15, 2009 11:33 AM    link doug b. | Goldsboro, NC

  23. Sun., Mar. 15, 2009 11:05 AM    link Name not displayed | Leesburg, VA

  24. Sun., Mar. 15, 2009 11:02 AM    link Frances N. | Leesburg, VA

  25. Sun., Mar. 15, 2009 10:50 AM    link Loren M. | Richfield, UT

  26. Sun., Mar. 15, 2009 10:23 AM    link Name not displayed | New York, NY

  27. Sun., Mar. 15, 2009 10:16 AM    link D L. | Santa Cruz, CA

  28. Sun., Mar. 15, 2009 10:07 AM    link Orson T. | Houston, TX

  29. Sun., Mar. 15, 2009 9:25 AM    link James S. | Brighton, CO

  30. Sun., Mar. 15, 2009 9:00 AM    link James C. | Elmhurst, IL

  31. Sun., Mar. 15, 2009 8:23 AM    link Thomas N. | Rochester, MI

    Defazio is such an ass. He should be removed from office for even remotely thinking of something so stupid.
    My uncle is friends with U.S. Senator Carl Levin (D) from Michigan. I asked my uncle to please call him on my behalf, as he can access him much easier than I could, and on the behalf of the millions of traders out there that will be royally screwed if something like this passes. He vowed that he would call Senator Levin on this. I will post an update once Senator Levin is contacted, and provide any additional info. once it's available.

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  33. Sun., Mar. 15, 2009 8:07 AM    link Name not displayed | Hunt, TX

    You have to realize the "trickle down" effect of money that is made by traders. We employ people, purchase items, ect.. More wealth = more of this activity.

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  35. Sun., Mar. 15, 2009 6:27 AM    link Ruby O. | Louisville, KY

    I urge you to vote NO on H>R> 1068

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  37. Sun., Mar. 15, 2009 6:17 AM    link Name not displayed | Laguna Niguel, CA

  38. Sun., Mar. 15, 2009 1:27 AM    link John P. | Sheridan, OR

    The need to bail out large corporations wasn't created by traders, but rather by those corporations themselves. Until you figure out how to tax them without allowing them to send the cost along to their customers you will not be addressing the root of the problem. Further, if those calculations are correct, it looks like the tax would add a fee to each option trade that could be 700% what the broker is charging for performing the trade--certainly not the "insignificant" fee that it is being touted as. Almost every aspect of business in this country relies on liquidity in the markets...from farmers to manufacturing. This bill isn't just misguided...it's criminally stupid. You won't stop corporate malfeasence by wiping out every small investor in America--but you will harm the innocent without touching those who created this economic mess. Vote NO on H.R. 1068!

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  40. Sun., Mar. 15, 2009 12:49 AM    link David M. | Dallas, TX

    This legislation is obviously not at all about Wall Street paying for TARP. Traders haven’t received bailout loans or capital and again, traders are not responsible for the toxic asset mess. Rather, home owners, mortgage brokers, mortgage securities packagers, rating agencies, appraisers, sellers and investors are responsible. If anything, tax that group — not traders.
    This legislation involves taxing traders out of business, and/or making traders clean up the mortgage mess in America. Traders are not responsible for the mortgage meltdown. Just like I shouldn't be held responsible for paying my next door neighbor's never-affordable mortgage, I shouldn't have to clean up due the lack of proper oversight and regulation of those responsible for this disaster. I responsibly saved for years to put down a 20% deposit and bought a house that I could afford, even if the interest rate adjusted upward. Now I'm bailing those folks out that got 100% financing (or more) and had monthly incomes that were in some cases 80% of their monthly mortgage payments?

    This isn't the first time this legislation has come up. It's just called something different. It's just politically more feasible to call it, “Let Wall Street Pay for Wall Street's Bailout Act of 2009” to take advantage of this 'populist' current political climate. This legislation is clearly about punishing the so-called "unproductive" small investors in America. DeFazio has stated this in several interviews. First of all, when did America's legislative body decide that it should legislate whether an activity is "productive" or not? I have a right to be unproductive, though I might be homeless if I make that decision. But it's still my right. I will take personal responsibility for my actions, I don't need Big Brother holding my hand. America used to be about individual freedom. Why do the writers of this legislation believe that they can decide on a whim, that free market capitalism is unproductive and short-term trading, evil? This country was built by traders, speculators and capitalists. Congress has no business involving itself in the free markets except to ensure a level playing field and to require that proper disclosures are made by brokerages and exchanges for all speculators. I'm tired of those who feel they know what "productive" speculation is. Whether you hold a trade for 10 minutes or 10 years, it's all speculative. Why do I only have a right to make a profit if I hold a position for a certain minimum amount of time that some legislator finds appropriate? It's none of your business how long I hold a trade. This is America, not Venezuela.

    This tax is morally bankrupt, anti-capitalist and philosophically un-American. DeFazio is talking about how unproductive traders are. The nerve of this man. Business traders provide liquidity. Anyone familiar with basic economics and the inner workings of all types of markets understands that you reduce volatility by increasing liquidity. Traders provide 2/3 of the daily liquidity in many futures and securities. A tax of this magnitude would eliminate short term trading as we know it, thus destroying valuable liquidity and costing the government billions in capital gains. This would defeat the entire purpose of the tax. Furthermore, only the large institutions would be allowed to decide where the market price of a financial instrument should go. This tax would allow market participation of only the big banks and institutions, shutting out the small investors and participants from voicing their opinion about a particular investment. At best it is unfair to small investors, at worst it sounds like a sort of illegal price-fixing scheme. Remember, Goldman Sachs was placing large bets and issuing statements indicating their belief that oil was going to rise to $200. If the large institutions were the only ones allowed to make those decisions of higher price, without a counterbalance of highly liquid opinion in the form of sellers and short sellers, we'd likely have seen $200 oil. Reduce liquidity and the Goldman Sachs' of the world get the only vote. The markets work when there is sufficient liquidity! Like Democracy, markets aren't perfect, but they eventually work to balance out supply/demand. Demand declined with the high price of oil and lesser consumption brought the price down, efficient! By the way, I didn't hear much outrage at the short-sellers this time. They correctly predicted (and thus voted with their own pocketbook) that oil was too high based on changing supply/demand. Why are short sellers only held to a perfect standard when they are wrong in their opinion? By the way, since this letter is directed at Congress, regulatory opposition to short selling also indicates the positive consequences of allowing short selling. Regulatory agencies are supposed to prevent fraud, questionable accounting, and other management misbehavior. However, they often fail not only to prevent, but even to detect them. Short sellers who are betting their own money on being correct often uncover what regulators miss, as they did at Worldcom, Enron, Tyco, etc., showing themselves as more effective market policemen.

    Regulators then object precisely because their inadequacy is revealed. In fact, their often ineffective regulatory oversight makes markets less efficient, by giving participants more confidence in stock promoters' assertions than is warranted. But they try to make short sellers into scapegoats, allowing regulators to leverage their failure into further expansion of their powers, to combat short selling's supposed evils. But that's another topic. I digress.

    Liquidity cannot be removed without serious consequences. Deciding what's "productive" is anti-American and anti-freedom. Day traders didn't cause the mortgage meltdown. We have strict margins that protect the financial stability of our markets, unlike those large institutions that created the highly leveraged toxic assets that created the need for TARP. We are small businessmen and women, not Gordon Gekkos. We are increasingly educated as traders and those that don't educate themselves about money management, those that are greedy and those that treat trading "like a casino", get weeded out, just like in any other business. We are the increasingly educated investors, who understand that "buy and hold" doesn't guarantee a return on our hard-earned money. We shouldn't be punished for exercising our freedom to buy and sell instruments as we see fit.

    Restore the citizens' faith in capitalism. VOTE NO, on the trader tax!!

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  42. Sat., Mar. 14, 2009 11:54 PM    link Nadilifu K. | Charlotte, NC

  43. Sat., Mar. 14, 2009 11:42 PM    link shelli s. | Lakewood, CO

  44. Sat., Mar. 14, 2009 11:09 PM    link Name not displayed | Austin, TX

  45. Sat., Mar. 14, 2009 9:53 PM    link Valorie N. | Fayetteville, TN

    This bill will cause great harm to the "little people" who are simply trying to invest on thier own.

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  47. Sat., Mar. 14, 2009 9:46 PM    link david l. | Tampa, FL

    do not pass this bill...It is the most unbelievable move in this economy to discourage trades to help stimulate
    this market.

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  49. Sat., Mar. 14, 2009 9:33 PM    link Name not displayed | Easton, PA

  50. Sat., Mar. 14, 2009 9:04 PM    link john p. | Dallas, TX

  51. Sat., Mar. 14, 2009 7:59 PM    link John H. | Castro Valley, CA

  52. Sat., Mar. 14, 2009 7:35 PM    link Name not displayed | Delray Beach, FL

  53. Sat., Mar. 14, 2009 7:29 PM    link Name not displayed | Delray Beach, FL

  54. Sat., Mar. 14, 2009 7:22 PM    link CAROLINE MARSHALL 6. | New York, NY

  55. Sat., Mar. 14, 2009 7:06 PM    link Giovanni M. | Simi Valley, CA

  56. Sat., Mar. 14, 2009 6:35 PM    link Kirk S. | Calhan, CO

  57. Sat., Mar. 14, 2009 6:15 PM    link Aaron S. | Las Vegas, NV

    The absolute nerve of this smirking idiot. To say that this targeted group of investors should be the ones to pay for the bailout. Maybe the politicians should be the targeted group since they are the ones that are primarily the cause of the mess. Haven't the innocent small investors already paid enough for the idiot politicians incompetence.

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  59. Sat., Mar. 14, 2009 6:00 PM    link Jim F H. | Austin, TX

  60. Sat., Mar. 14, 2009 5:50 PM    link Gary D. | Allen, TX

    I finally learned how to make a little money in the market. I have to pay taxes on my earnings and now this will be taxes on my trades, both earnings and losses. Is this for real. I'm just trying to get enough to retire on.

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  62. Sat., Mar. 14, 2009 5:34 PM    link Frank D. | Boca Raton, FL

    Please do not pass this tax and punish the ordinary investor.

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  64. Sat., Mar. 14, 2009 4:42 PM    link Richard E C. | Hiawatha, IA

  65. Sat., Mar. 14, 2009 4:13 PM    link Name not displayed | Berkeley, CA

  66. Sat., Mar. 14, 2009 3:53 PM    link Gurbachan S. | Union City, CA

  67. Sat., Mar. 14, 2009 3:40 PM    link Yuri U. | Forest Hills, NY

    Mr. DeFazio either dont have a clue whtsoever what he is talking about or just a liar. It's not Wall Street pays but it's we, small investors pay for sins of FAT CATs. Please Stop it!!!

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  69. Sat., Mar. 14, 2009 3:23 PM    link Aldo R. | Mountain View, CA

    A terrible idea that punishes ordinary individual investors!

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  71. Sat., Mar. 14, 2009 2:44 PM    link Name not displayed | Ithaca, NY

  72. Sat., Mar. 14, 2009 2:36 PM    link Nick T. | Washington, IL

    An ill informed concept, based upon a lack of knowledge and understanding of capital markets. This bill, if it goes through is certain to make the recesion a lot worse and affect Americans in ways that cleraly have not been thought through.

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  74. Sat., Mar. 14, 2009 2:21 PM    link Name not displayed | Warren, MI

  75. Sat., Mar. 14, 2009 2:10 PM    link James H. | Lakewood, CO

  76. Sat., Mar. 14, 2009 2:09 PM    link Greg J. | Englewood, CO

  77. Sat., Mar. 14, 2009 1:07 PM    link Victor F. | Stamford, CT

  78. Sat., Mar. 14, 2009 12:52 PM    link Name not displayed | Glendale, CA

  79. Sat., Mar. 14, 2009 12:41 PM    link James I. | Foxboro, MA

    Would destroy many small investors who are not daytraders. The people this would hurt are not the people who caused the problem

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  81. Sat., Mar. 14, 2009 12:11 PM    link Lynn M. | Rancho Mirage, CA

  82. Sat., Mar. 14, 2009 12:08 PM    link Marvin W. | Weston, FL

  83. Sat., Mar. 14, 2009 11:47 AM    link Jack D. | Cary, NC

    This kind of tax would shower the economy with all kinds of unintended consequences - it would cost thousands of jobs in the financial sector and destroy, with a stroke of the pen, the livelihood of many tax-paying citizens. I urge you to vote "NO" on this misguided piece of legislation.

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  85. Sat., Mar. 14, 2009 11:46 AM    link Name not displayed | Thomasville, NC

  86. Sat., Mar. 14, 2009 11:40 AM    link James R. | Jackson, CA

    "ALL", of our elected officials have now bankrupeted our world .
    Thank You All, for stealing our hard earned money.

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  88. Sat., Mar. 14, 2009 11:20 AM    link feroz t. | New York, NY

    This tax makes absolutely no sense for active traders who trade stocks, futures, etc. for a living. It shoul not be made into law.

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  90. Sat., Mar. 14, 2009 11:03 AM    link Name not displayed | Memphis, MI

    I am a small trader in futures and as such this would end my career in one stroke of the legislative pen.

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  92. Sat., Mar. 14, 2009 10:58 AM    link Name not displayed | Vernon Rockville, CT

  93. Sat., Mar. 14, 2009 10:31 AM    link Name not displayed | Tomball, TX

  94. Sat., Mar. 14, 2009 10:27 AM    link Fred B. | Greensboro, NC

  95. Sat., Mar. 14, 2009 10:16 AM    link John P. | Dallas, TX

  96. Sat., Mar. 14, 2009 9:55 AM    link Name not displayed | Garland, TX

  97. Sat., Mar. 14, 2009 9:22 AM    link Name not displayed | Virginia Beach, VA

  98. Sat., Mar. 14, 2009 9:16 AM    link Bob H. | Grove, OK

  99. Sat., Mar. 14, 2009 8:58 AM    link Name not displayed | Henderson, NV

  100. Sat., Mar. 14, 2009 8:49 AM    link Name not displayed | Auburn, NY

  101. Sat., Mar. 14, 2009 7:43 AM    link Name not displayed | Addison, TX

    anything that decreases liquidity hurts value ... just ask the people in Inland Empure, CA who can't sell their house if this relationship works.

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  103. Sat., Mar. 14, 2009 7:06 AM    link Steven C. | Lewisville, TX

  104. Sat., Mar. 14, 2009 7:01 AM    link James H. | Durham, NC

  105. Sat., Mar. 14, 2009 6:50 AM    link Name not displayed | ,

  106. Sat., Mar. 14, 2009 1:48 AM    link Todd W. | Anaheim, CA

  107. Sat., Mar. 14, 2009 1:43 AM    link Maurice d. | ,

  108. Sat., Mar. 14, 2009 1:41 AM    link Ruthie F. | West Covina, CA

  109. Sat., Mar. 14, 2009 1:39 AM    link Maurice d. | West Covina, CA

  110. Sat., Mar. 14, 2009 12:48 AM    link dave n. | Minneapolis, MN

    once again, our lawmakers show their apalling lack of understanding. it's truly sad.

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  112. Sat., Mar. 14, 2009 12:16 AM    link John Billington A. | San Francisco, CA

  113. Fri., Mar. 13, 2009 11:29 PM    link Robert L. | Tarzana, CA

  114. Fri., Mar. 13, 2009 11:22 PM    link Roberta M. | Port Saint Lucie, FL

  115. Fri., Mar. 13, 2009 11:20 PM    link Name not displayed | New York, NY

  116. Fri., Mar. 13, 2009 11:00 PM    link Kirkland B. | Fort George G Meade, MD

    There are average people living off their trades. Don't hurt the small guy

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  118. Fri., Mar. 13, 2009 10:00 PM    link Jon M. | Portland, OR

  119. Fri., Mar. 13, 2009 9:52 PM    link Name not displayed | Mobile, AL

  120. Fri., Mar. 13, 2009 8:53 PM    link Chris P. | Vernon Rockville, CT

  121. Fri., Mar. 13, 2009 8:41 PM    link Ryan L. | Atlanta, GA

  122. Fri., Mar. 13, 2009 8:27 PM    link Name not displayed | Earlysville, VA

    Do not punish traders for the lack of supervision the authorities had regarding the Toxic investements.

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  124. Fri., Mar. 13, 2009 8:19 PM    link Chris W. | Sacramento, CA

  125. Fri., Mar. 13, 2009 8:16 PM    link Name not displayed | Cleveland, NC

    what about the lose does the gov want to share on that to [i know not]

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  127. Fri., Mar. 13, 2009 8:02 PM    link Name not displayed | ,

Total Signers: 38,802    View More: 389 388 387 386 385 384 383 382 381 380 379 378 377 376 375 374 373 372 371 370 369 368 367 366 365 364 363 362 361 360 359 358 357 356 355 354 353 352 351 350 349 348 347 346 345 344 343 342 341 340 339 338 337 336 335 334 333 332 331 330 329 328 327 326 325 324 323 322 321 320 319 318 317 316 315 314 313 312 311 310 309 308 307 306 305 304 303 302 301 300 299 298 297 296 295 294 293 292 291 290 289 288 287 286 285 284 283 282 281 280 279 278 277 276 275 274 273 272 271 270 269 268 267 266 265 264 263 262    261 260 259 258 257 256 255 254 253 252 251 250 249 248 247 246 245 244 243 242 241 240 239 238 237 236 235 234 233 232 231 230 229 228 227 226 225 224 223 222 221 220 219 218 217 216 215 214 213 212 211 210 209 208 207 206 205 204 203 202 201 200 199 198 197 196 195 194 193 192 191 190 189 188 187 186 185 184 183 182 181 180 179 178 177 176 175 174 173 172 171 170 169 168 167 166 165 164 163 162 161 160 159 158 157 156 155 154 153 152 151 150 149 148 147 146 145 144 143 142 141 140 139 138 137 136 135 134 133 132 131 130 129 128 127 126 125 124 123 122 121 120 119 118 117 116 115 114 113 112 111 110 109 108 107 106 105 104 103 102 101 100 99 98 97 96 95 94 93 92 91 90 89 88 87 86 85 84 83 82 81 80 79 78 77 76 75 74 73 72 71 70 69 68 67 66 65 64 63 62 61 60 59 58 57 56 55 54 53 52 51 50 49 48 47 46 45 44 43 42 41 40 39 38 37 36 35 34 33 32 31 30 29 28 27 26 25 24 23 22 21 20 19 18 17 16 15 14 13 12 11 10 9 8 7 6 5 4 3 2 1

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Petition created by James DePorre

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