Let me make this 100% clear that I am not a commercial member nor am I involved in forming this Traders Association in anyway. I am only posting this article for people to review and make up their own minds about what is happening in Congress and what might happen to traders. Also I am posting this in the commercial forum as the email I have copied and pasted is soliciting members to join a Traders Association and I did not think FF would allow me to post this in the non commercial part of the forum. Again, I am only passing this info on to other people. I am not a commercial member.
Our elected officials in Congress could ruin trading in the financial markets for USA Citizens. For example, take a look at the below email that I have copied and pasted.
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We greatly appreciate your support in joining our Traders Association by paying $50. This is a business deduction for business traders because it's an ordinary and necessary expense for operating your business. For investors, this is considered an investment expense. (It's not a charitable deduction, which is not as good a deduction as a business expense anyway.)
Traders Association - Annual Membership
*We greatly appreciate if you wish to support us more by changing the cart to 2 or more times, and then click Check Out. Thank you very much!$50http://www.greencompany.com/images/a...llow-short.gifMembership dues will be used entirely to support the Traders Association campaign efforts.
Why you should join us:
Our Traders Association needs to be involved with the tax and regulatory changes coming out of Washington D.C. The Bush tax cuts are expiring and members of Congress are fiercely debating who to extend these tax cuts for, and they want to extend many other tax breaks too. A lot of tax policy is in play and traders don't want to be the ones paying more taxes while others receive tax breaks, as recently happened with new taxes on investment income in the health-care reform bill. Many in the administration and Congress are demonizing traders and the financial markets, calling the markets "casino capitalism." Are lower 60/40 tax rates on futures and electing forex sustainable? Can most trading gains remain exempt from Medicare taxes? Is the qualifying dividend tax rate going back to higher ordinary rates? Is trader tax status sustainable? Can investment managers continue to fend off attempts by Congress to repeal carried-interest and S-Corp SE tax breaks? Is Congress going to warm up to a financial-transaction tax, which could put traders out of business? There are many questions swirling around, and we need to be a player in the game in order to get answers.
Regulators like the SEC and CFTC are charged with interpreting the significant Dodd-Frank Fin Reg Bill. Our Traders Association needs to contribute to the discussion so we don't wind up with the short-end of the stick - like draconian 10:1 leverage on forex. $50 is a small price to pay to show your support and join our cause. While many traders may be small in the eyes of Congress and the IRS, we can have a respectable footprint by joining forces. It's the same concept with unions - individual workers have little clout but unions are frequent visitors to the White House. By the way, unions are attacking traders too in their support of a financial-transaction tax.
Membership Benefits:
- Discounts on selective GreenTrader guides and services, including a $25 discount on initial 30-minute consultations, $50 discount on entity formation services, and $10 on guides, applicable on promotional or regular prices. Access these offers inside our Traders Association login section.
- We plan to invite other companies, including leading trading education sites and brokerage firms, to team up with our Traders Association and offer exclusive discounts or promotions to our members.
- Special conference calls for members only, perhaps scheduled on a bi-weekly basis, including normally blacked-out dates before tax deadlines like April 15, Sept. 15, Oct. 15, and year-end. It's beneficial for members to have exclusive access to Robert Green right before tax deadlines, as well as throughout the year.
- Full access to podcasts and Webcasts. We continue to offer free conference calls for everyone (including non-members), but the public has limited access to prior podcast recordings.
Upon purchasing a membership to our association, you will receive a PDF file containing a user name and password for the "Members-Only" area, which grants access to our complete library of podcast recordings and more.
Mission:
The GreenTraderTax Traders Association's goal is to defend the tax, regulatory and business interests of our clients in the trading industry, including small-business retail traders, proprietary traders, investment-management businesses and ancillary businesses in the trading industry. Large brokerage firms, banks and hedge funds, as well as mutual funds and insurance companies all have their own large associations. Although these big groups share some interests with the small trader, they mainly focus on other issues and rarely fight for small-business traders. Our Traders Association is a business trade association, not to be confused with a not-for-profit or charitable organization. Robert A. Green and others write commentary on the Internet and blogs and speak in Podcasts, Webcasts, to the media and at trade shows and events to promote traders' interests and fight off attacks on our industry from Congress, the IRS, the media and others. We've been successful to date in fighting off the financial-transaction tax. Every article on the tax in any media throughout the world is flooded with our group's replies on how it's a bad idea. We craft and sign Petitions to Congress and fight each attempt against us on a grass roots level. We're not a lobbying organization and don't donate money to politicians or PACs.
Our current campaigns include the following:Fighting against a financial-transaction tax.
Educating our traders about possible new CFTC forex trading rules that may hurt forex traders.
Spreading the word about the problems and opportunities caused by Dodd-Frank Fin Reg.
Prop Trading Firm Alert: FINRA and SEC enforcement against the industry.
Tax hikes may be coming soon on the investment industry.
How you can help:
Invite others: Please invite other traders to join our Traders Association. We need to have a strong membership to be successful. Please share this email invitation via social media ( Facebook, LinkedIn and Twitter) using the links at the bottom and kindly add your endorsement.
Board members: Kindly consider taking a more active role in our association by taking on a board member role.
Sponsorships:We invite service providers, educational companies, brokerage firms and ancillary companies in our trading industry to become sponsors of our Traders Association. We invite sponsors to offer discounts on their products and services to our members too.
If you are interested in helping us in these ways or any other ways, kindly email us at [email protected] or call us.
Next scheduled conference call and podcast:
Thursday Sept. 2, 4:15 - 5:30 pm ET. For Traders Association members only.