Slope of Hope Blog Posts

Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.

Death and Taxes

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A Sloper pointed out this story from Bloomberg this morning – – former IBM chairman Lou Gerstner is suggesting an 80% tax on short-term trading gains.

Wow, thanks, Lou! Now that he's made his fortune, he doesn't have any problem taxing your hard work, does he?

There seems to be an impression that traders simply stroll out into the market, grab a bunch of cash, and stroll right out. People don't realize how difficult making a buck in a hyper-competitive trading market can be. I would also point out, Lou, that between California's 10% income tax and the Federal rate of about 40%, I'm already giving 50% of my own gains to people who had absolutely nothing to do with it. So, thanks, Lou, but I think 50% is highway robbery enough.

Schmuck.

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