I received an email from Ameritrade about the tax bill

[stopwastingmymoney]

to quote:

"TD Ameritrade believes it's important to stand on the side of our clients. We have reviewed the Senate Tax Cuts and Jobs Act, which was released last week. Section 13533 of the Senate Bill imposes a single cost basis methodology for investors, "first in, first out" ("FIFO&quot , on all sales of securities (except mutual funds).

For the average investor, this means possibly being required to pay the highest capital gains taxes where a stock has appreciated over time.

On behalf of our approximately 11 million client accounts, we strongly oppose this provision. We believe it will harm individual investors by eliminating their freedom to decide when to take losses or gains on their investments, potentially resulting in an increased tax burden."


Interesting that a stock trading company is saying anything about this (I notice they're only opposing the one provision)

Has anyone else received this kind of communication from an unlikely source?

[MontanaMama]

1. Wowza.

I have the bulk of my portfolio with Ameritrade and haven't received this...yet.

[Heartstrings]

4. Me, too

And me either....

[stopwastingmymoney]

6. It came several days ago

I asked a couple of friends who also use Ameritrade and they hadn’t received it either. I don’t know...

[The_Casual_Observer]

2. You will find that the only benefit to this whole plan is for the corporate tax rate and the "death

tax". Everything else is for shit.

[underpants]

3. AARP, National Federation of the Blind, economists, farmers, a majority of citizens

all opposed to it

https://www.democraticunderground.com/10029903505

[Vinca]

5. When you lose the stock brokers that means it's much worse than we thought.

[matt819]

7. Its because they are rushing it through.

I’ll guarantee you they have no fucking clue what impact the bill would have. I’m sure there are scores, if not hundreds, of adjustments and provisions and shit that will affect people in ways they Never thought of. This is a part from the Publis city regarding the fact the Texas we raise, Medicare will be cut, and things like that. I’m talking about stuff deep down in the bill which is intended to benefit a very specific class of people, if not actually specific people, to the detriment of everybody else. And only if this bill is past and signed, will we learn, overtime, just how bad it is.