There is no massive capital flight it is exaggerated many US traders have accepted CFTC rules even though they may not agree with some of it.
The others will be brought to justice if they have broken the law and all loopholes will be closed at the beginning of next year.
If thereâs no massive capital flight, why is this thread so popular, for one?
IF you stay in office by then. Will you?
In the grand scheme of things this thread is only for a minority of forex retail traders who want to circumvent the law legally. The best way is to establish residence in another country but most wise professional traders have moved altogether as that is the best option from a legal standpoint.
Is your goal to force all professional Forex traders out of the country?
We must remember that only 5 percent of Forex traders are successful that means 95 percent are being exploited by the market. The Dodd Frank bill merely intended for these traders to accept the new rules or leave the country âŚ
Freedom of choice has always been one of the most fundamental American freedoms. If certain adults choose to pursue a career in Forex yet fail, itâs their choice. You donât shut down all those casinos in Vegas, even though the percentage of losers is even higher there?
Why wouldnât Obama leave for Kenya instead?
The CFTC wants to provide a fair game for forex traders there is no freedom in unfairness and we all know the more money one has in FOREX the easier it is to trade without being forced to take substantial risk for a moderate return.
Those who wish to exploit beginner Forex traders are not reflecting American values and should leave since that is immoral.
Why donât you then ban conventional gambling all along?
Gambling provides a good source of taxable revenue.
Doesnât retail Forex?
No the capital gains tax is very low, 15 percent compared to the marginal rate
Funny how you speak about whatâs immoral then. If it feeds you, you cherish it (even though you know it ruins families, like gambling does), if it doesnât - you kill it (like the case with retail Forex).
gambling is a form of entertainment and tax revenue from gambling goes to build the country so it is not really immoral when compared to few wealthy Forex traders capitalizes from many poor traders
Itâs exactly the same thing as with a few wealthy casino tycoons capitalizing from many poor gamblers. If itâs revenue that youâre concerned about, why not introduce a high tax rate for those wealthy Forex traders?
It is in the works
Will you then do away with your retail Forex restrictions? You donât interfere with the roulette or black jack rules at casinos, after all.
Yes when the capital gains tax rate is raised from 15 percent to 35 percent the forex restrictions will be lifted.
Re elect President Obama?!!! Yeah, sure, Iâll just drive this country into the Stone Age and send him a thank you note for forcing me and other tax payers to pay for health insurance. The guy is a dictator and hasnât done anything for this country. I will be voting against him. Iâll take Ron Paul and Romney over that lunatic any day. We need a return to free markets, these rules are pointless and will not protect anyone.
Iâm with Bravehoststamps 100% on how casinos operate. They donât do away with those becomes gamblers donât stand a chance of winning. They are immoral enterprises and should be abolished. They do more damage than good. As has been said multiple times, even at a lower leverage, a gambling trader will still find a way to blow his or her account. Mankind is not meant to be controlled in the fashion that the government is attempting to enforce. This current system of rule will lead to the eventual fall of our Empire, much in the way that the Roman Empire fell. If there ever was a race that learned to work together instead of sabotauging each other, then they might survive in the far future. I donât see that happening because of these constant win-lose scenarios that are being created. Sure, many traders will lose, but it is the fault of those that continue to lose. Everyone has an opportunity to win if they properly educate themselves and control their emotions. The government is attempting to take away this opportunity and that is not right anyway you look at it. We need to change the way that we govern our people and how we treat eachother as a race and as a society, or we are all just marching towards our own destruction. Mark my words.
Oh, and by the way, in regards to this ridiculous taxation. STOP. Just stop and remove your hand from my basket. These are my profits and I earned them. You did not. Go ahead and raise the tax rates to ridiculous levels and see how many people open offshore illegal accounts. I wonât do this but others will. Taxation without representation; its the oldest story in the book of goverment and one that is highly abused to this day.
[B]BraveâŚ, and liggyâŚ, [/B]
Youâre arguing with a guy â
⢠who doesnât know how to trade,
⢠who blames the evil forex market for everything stupid that he does, and
⢠who wants the Nanny State to crack down on all the profitable traders who are stealing his money.
This guy doesnât have all 4 wheels on the road, and you shouldnât waste your time arguing with him.
Here are some of his recent posts on another thread â