letstrade

With the stimulus package, it was a tax on stocks, bonds and most derivatives including futures. This current bill seems to indicate just stocks and bonds, but that can always be changed to include other instruments, just like the tax could be completely dropped just like it has been in the past. However, the main idea here is that there is a group of Hoouse Democrats who seem to keep trying to get the tax passed in some sort of bill.

Last month, the transaction tax (fee) for financial transactions was taken out of the stimulus package. However, the liberal Democrats are now trying to get it through on another bill----House Bill 676, the National Health Care bill. http://www.pnhp.org/docs/nhi_bill_final1.pdf The transaction fee is listed as a source of funding for the health care bill on page 19. I have seen sources say it is 1/4% or 1/3% on stock and bond transactions. There is a group of Democrats in the House that seem determined to get this transaction tax passed into law.

How does a trader do business offshore? If a trader residing in the US trades the Dax or ESTX50, would the transaction tax still apply?