bripat9643
Diamond Member
- Apr 1, 2011
- 170,170
- 47,328
- 2,180
Sorry, it's not stealing. Learn the definition of the term. For one thing, stealing is an involuntary transaction. All the trades made on wall street are strictly voluntary.We "invest" in companies, to grow and hire more people. We hold stock months or years in our 401Ks.Buying and selling is not stealing.1. I like the transaction tax, it keeps the money that high-frequency traders would steal in our 401Ks.A lot of small fry are into day trading...This would hit them hardest.I support the new transaction tax. It only hits the high-frequency traders, who steal our 401Ks by "front-running" trades.Those that indulge in Wall Street transactions, already pay taxes on income/profits. Enough taxing for the already bloated government.
If you buy and hold stocks, the way the stock market is supposed to work, by providing capital to companies, you won't even notice the tax.
The huge brokerages can either absorb the costs or pass them along.
Even money that Batshit Bern and Lee are getting some Wall Street payola for this.
2. Another tax I like is the "Remittance Tax" on money sent out of the USA. That would generate about $150b a year in new revenue.
High frequency traders use super-computers to buy and sell in thousandths of a second. Yes, that is stealing. It isn't fair to long-term investors.