We can’t sit back and let this tax become a reality. If that happens, traders will be run out of business and other industries will be affected too.
Ridgefield, CT (PRWEB) January 7, 2010
GreenTraderTax kicked off its campaign in mid-December to defeat the proposed tax on financial transactions, starting with two key RallyCongress.com petitions.
Several Congressional leaders have proposed a 0.25-percent tax on the sale and purchase of stocks and a 0.02-percent tax on futures and swaps transactions. (The tax rate for options depends on the option's underlying instrument.) The proposed financial-transaction tax will be implemented on all transactions — profitable and unprofitable. Green & Company founder and CEO Robert A. Green contends this tax will put small-business traders out of business and have devastating and lasting effects on the U.S. economy. He is calling all traders to the front lines, asking them to sign his petitions and spread the word to friends and colleagues.
The petitions at RallyCongress.com can be accessed by anyone, signed and emailed to multiple Congressmen, and customized if signers want to add their own comments. The site will also print a hard copy and mail it for a small fee. (Green says this is a more effective means of getting noticed in Washington.)
“We need investors of all types to pitch in and make their voices heard in Washington,” he says. “We can’t sit back and let this tax become a reality. If that happens, traders will be run out of business and other industries will be affected too.”
GreenTraderTax's two petitions focus on how a financial-transaction tax will have a negative impact on the U.S. His first petition concentrates on the tax’s influence on traders. The second focuses more broadly on its effects on various industries (financial services, technology, farmers, etc.).
“Supporters of this tax don’t realize that there are several million small business traders and active traders who trade for their living,” he says. “Most do not make millions; they make average returns in the stock market. A tax on all transactions — win or lose — will chisel away at their income. Eventually, they will find themselves out of a job.”
For more information about GreenTraderTax’s campaign, or to schedule an interview with Robert A. Green, email pr(at)greencompany(dot)com or call 888-558-5257 or (646) 216-8061. Read Green's in-depth articles on the financial-transaction tax at http://www.greencompany.com/Association/AssociationFinancialTransTax.shtml .
About Green & Company:
Green & Company is a full-service tax firm dedicated to the needs of all types of clients, successfully helping traders since 1983. The GreenTraderTax division is solely dedicated to the needs of traders. It provides tax preparation and planning services, accounting, consultations, entity formations, retirement-plan services, and IRS/state tax exam representation services. The GreenTrader Hedge Fund Services division is dedicated to the needs of hedge funds, money managers, and other types of funds. It provides start-up and business services; operations and compliance; accounting services using specialized software; tax planning and preparation; and audit services. For more information or to participate in free conference calls and message boards, visit http://www.greencompany.com or call (888) 558-5257 or (646) 216-8061.
About Robert A. Green:
Robert A. Green, CPA, is CEO of Green & Company CPAs, LLC. Green is also founder and CEO of the GreenTraderTax Traders Association. He is the author of "The Tax Guide for Traders" (McGraw-Hill, 2004) and "Green’s 2010 Trader Tax Guide."
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