Democrats propose "transaction tax" on financial transactions. (Poll)

[Manonthestreet]

we once again have Trumpsters pretending to be fiscally responsible and attacking others.

What trumpsters wanted was an end to the lockouts

but if you did that democrats would not have an excuse to continue your massive borrow and spend pork barrel policies

8 trillion in spending that wasn't paid for under Trump.

Why didn't Nancy do something......

How much has Joe spent alrdy....no way you can tax that much

 

[pknopp]

we once again have Trumpsters pretending to be fiscally responsible and attacking others.

What trumpsters wanted was an end to the lockouts

but if you did that democrats would not have an excuse to continue your massive borrow and spend pork barrel policies

8 trillion in spending that wasn't paid for under Trump.

Why didn't Nancy do something......

It's not her thing. She has no desire to address the debt. Why do you think she does?

 

[Cellblock2429]

I never thought that I'd ever be on the same side as Ilhan Omar, but here we are.
I support the proposed transaction tax. It will hit the high-speed traders more than me or other "buy and hold" investors.

The argument against it is that high-speed traders will just move off-shore to do their trades, fine.
They are nothing but leeches stealing our 401k investments.

Senate Democrats reintroduce bill to create financial transaction tax

A group of Democratic senators on Thursday reintroduced legislation to create a financial transaction tax, arguing that such a tax would help to reduce economic inequality.The bill would establish …

thehill.com

Congress wants to tax stock trades. Investors shouldn't fret. | Brookings

Aaron Klein makes the case for a financial transaction tax.

www.brookings.edu

"This (transaction tax) makes financial markets fairer and possibly less volatile. As described by Michael Lewis in Flash Boys, high frequency traders (HFTs) can earn profits by front-running other trades by micro-seconds, an activity that raises costs for legitimate traders and provides no value to society. HFTs account for roughly half all stock trades and much of their business model would be threatened by the proposed transactions tax.
Under current law, someone selling or buying $1,000 of stock pays just over two cents in transaction taxes. This existing fee raises over $1.5 billion per year. The proposal would add a tax of $1 to that transaction."

/——/ democRATs raising taxes. What could possibly go wrong?
Hey, let’s tax abortions and gender switch’s.

 

[progressive hunter]

so your solution is to continue doing it??

better to stop it and lower taxs,,,

Where did I do that and more importantly as I've noted over and over, when someone actually does that I'll take it seriously.

so youre going to sit there and complain waiting for others to solve the problems you complain about and until then just keep taxing people

 

[kyzr]

I never thought that I'd ever be on the same side as Ilhan Omar, but here we are.
I support the proposed transaction tax. It will hit the high-speed traders more than me or other "buy and hold" investors.

The argument against it is that high-speed traders will just move off-shore to do their trades, fine.
They are nothing but leeches stealing our 401k investments.

Senate Democrats reintroduce bill to create financial transaction tax

A group of Democratic senators on Thursday reintroduced legislation to create a financial transaction tax, arguing that such a tax would help to reduce economic inequality.The bill would establish …

thehill.com

Congress wants to tax stock trades. Investors shouldn't fret. | Brookings

Aaron Klein makes the case for a financial transaction tax.

www.brookings.edu

"This (transaction tax) makes financial markets fairer and possibly less volatile. As described by Michael Lewis in Flash Boys, high frequency traders (HFTs) can earn profits by front-running other trades by micro-seconds, an activity that raises costs for legitimate traders and provides no value to society. HFTs account for roughly half all stock trades and much of their business model would be threatened by the proposed transactions tax.
Under current law, someone selling or buying $1,000 of stock pays just over two cents in transaction taxes. This existing fee raises over $1.5 billion per year. The proposal would add a tax of $1 to that transaction."

/——/ democRATs raising taxes. What could possibly go wrong?

1. Don't just look at the tax, but the entire picture. What benefit are high-frequency traders (HFTs) to the average 401K investor?
<zero, because the HFTs steal investment capital, that's how they make money>

2. By stopping HFTs from stealing, that benefits the average investor. So its not just a tax, it has some benefit.

 

[Mac-7]

8 trillion in spending that wasn't paid for under Trump.

Your number is wildly off the mark

excluding 2020 and the government induced recession the deficit under trump was $2.5 trillion

still too much but a more honest figure

 

[Darkwind]

I agree

Right now the super wealthy are only taxed on their income. They are clever enough not to claim income. We cannot touch their wealth.
A small fee on transactions (like a sales tax) will open up their wealth to taxation

How many times should a dollar be taxed, stalin?

These dollars are not taxed like others pay taxes on their dollars. Capital Gains are taxed at a lower rate. I'm all for taxing income as income instead.

So, it's just pure greed then? We need more of their money for government programs that solve problems that don't really exist.

I guess at this point in our history, Principle alone is just an outdated concept.

 

[pknopp]

so your solution is to continue doing it??

better to stop it and lower taxs,,,

Where did I do that and more importantly as I've noted over and over, when someone actually does that I'll take it seriously.

so youre going to sit there and complain waiting for others to solve the problems you complain about and until then just keep taxing people

Should I take over the entire process? Cool.

I support what I claim to support and do not make lame excuses for what I pretend to not support. I've already noted this 3-4 times. I support paying for things. This is a way to pay for things so why would I not support it?

 

[LeftofLeft]

I agree

Right now the super wealthy are only taxed on their income. They are clever enough not to claim income. We cannot touch their wealth.
A small fee on transactions (like a sales tax) will open up their wealth to taxation

most of the liberal wealthy elite make their money off transaction investments and don’t get hit with income tax. Better get sign off from them.

Works for me

Of course it works for you assuming you are part of the liberal wealthy elite, you are one data point and/or very likely a small, skewed minority. Liberal wealthy elites don’t like their money being touched (taxed) which is why they go after income tax and hits Middle Class like myself.

You know what is funny?

The Liberal wealthy elite supports paying more taxes while the Conservative wealthy elite cuts their own taxes and makes up for it by slashing social programs

Whose taxes do the Liberal wealthy

I agree

Right now the super wealthy are only taxed on their income. They are clever enough not to claim income. We cannot touch their wealth.
A small fee on transactions (like a sales tax) will open up their wealth to taxation

most of the liberal wealthy elite make their money off transaction investments and don’t get hit with income tax. Better get sign off from them.

Works for me

Of course it works for you assuming you are part of the liberal wealthy elite, you are one data point and/or very likely a small, skewed minority. Liberal wealthy elites don’t like their money being touched (taxed) which is why they go after income tax and hits Middle Class like myself.

You know what is funny?

The Liberal wealthy elite supports paying more taxes while the Conservative wealthy elite cuts their own taxes and makes up for it by slashing social programs

The Liberal weatherly elite supports other people paying more taxes. Many Social programs are ripe with bloat and fraud. Most Americans including Conservatives want to pay for Social programs but without the bloat. Solve that problem.

 

[progressive hunter]

I never thought that I'd ever be on the same side as Ilhan Omar, but here we are.
I support the proposed transaction tax. It will hit the high-speed traders more than me or other "buy and hold" investors.

The argument against it is that high-speed traders will just move off-shore to do their trades, fine.
They are nothing but leeches stealing our 401k investments.

Senate Democrats reintroduce bill to create financial transaction tax

A group of Democratic senators on Thursday reintroduced legislation to create a financial transaction tax, arguing that such a tax would help to reduce economic inequality.The bill would establish …

thehill.com

Congress wants to tax stock trades. Investors shouldn't fret. | Brookings

Aaron Klein makes the case for a financial transaction tax.

www.brookings.edu

"This (transaction tax) makes financial markets fairer and possibly less volatile. As described by Michael Lewis in Flash Boys, high frequency traders (HFTs) can earn profits by front-running other trades by micro-seconds, an activity that raises costs for legitimate traders and provides no value to society. HFTs account for roughly half all stock trades and much of their business model would be threatened by the proposed transactions tax.
Under current law, someone selling or buying $1,000 of stock pays just over two cents in transaction taxes. This existing fee raises over $1.5 billion per year. The proposal would add a tax of $1 to that transaction."

havent you heard?? we dont need taxs anymore, the government can just print more money when they need it,,

 

[progressive hunter]

so your solution is to continue doing it??

better to stop it and lower taxs,,,

Where did I do that and more importantly as I've noted over and over, when someone actually does that I'll take it seriously.

so youre going to sit there and complain waiting for others to solve the problems you complain about and until then just keep taxing people

Should I take over the entire process? Cool.

I support what I claim to support and do not make lame excuses for what I pretend to not support. I've already noted this 3-4 times. I support paying for things. This is a way to pay for things so why would I not support it?

the government can just print money for it so we dont need taxs anymore,,

 

[pknopp]

8 trillion in spending that wasn't paid for under Trump.

Your number is wildly off the mark

excluding 2020 and the government induced recession the deficit under trump was $2.5 trillion

still too much but a more honest figure

My number was right on the mark. You can make whatever excuses you want.

You are telling me that the Falcons won Super Bowl LI if you just forget about that 4th quarter. It doesn't work that way.

 

[Mac-7]

I never thought that I'd ever be on the same side as Ilhan Omar, but here we are.
I support the proposed transaction tax. It will hit the high-speed traders more than me or other "buy and hold" investors.

The argument against it is that high-speed traders will just move off-shore to do their trades, fine.
They are nothing but leeches stealing our 401k investments.

Senate Democrats reintroduce bill to create financial transaction tax

A group of Democratic senators on Thursday reintroduced legislation to create a financial transaction tax, arguing that such a tax would help to reduce economic inequality.The bill would establish …

thehill.com

Congress wants to tax stock trades. Investors shouldn't fret. | Brookings

Aaron Klein makes the case for a financial transaction tax.

www.brookings.edu

"This (transaction tax) makes financial markets fairer and possibly less volatile. As described by Michael Lewis in Flash Boys, high frequency traders (HFTs) can earn profits by front-running other trades by micro-seconds, an activity that raises costs for legitimate traders and provides no value to society. HFTs account for roughly half all stock trades and much of their business model would be threatened by the proposed transactions tax.
Under current law, someone selling or buying $1,000 of stock pays just over two cents in transaction taxes. This existing fee raises over $1.5 billion per year. The proposal would add a tax of $1 to that transaction."

What is your goal for the transaction tax?

if it does not pay down the debt then its worse than pointless

 

[Darkwind]

so your solution is to continue doing it??

better to stop it and lower taxs,,,

Where did I do that and more importantly as I've noted over and over, when someone actually does that I'll take it seriously.

so youre going to sit there and complain waiting for others to solve the problems you complain about and until then just keep taxing people

Should I take over the entire process? Cool.

I support what I claim to support and do not make lame excuses for what I pretend to not support. I've already noted this 3-4 times. I support paying for things. This is a way to pay for things so why would I not support it?

I support gutting or eliminating unneeded and wasteful government spending. In My estimate, a full 60% of the government could be cut and we'd be better off as a nation and society.

Then there would be less need to confiscate the labor of the individual, regardless of how they earned that money.

 

[Indeependent]

Let’s make believe that everyone who invests is at least a multi-millionaire.

 

[pknopp]

I agree

Right now the super wealthy are only taxed on their income. They are clever enough not to claim income. We cannot touch their wealth.
A small fee on transactions (like a sales tax) will open up their wealth to taxation

How many times should a dollar be taxed, stalin?

These dollars are not taxed like others pay taxes on their dollars. Capital Gains are taxed at a lower rate. I'm all for taxing income as income instead.

So, it's just pure greed then? We need more of their money for government programs that solve problems that don't really exist.

I guess at this point in our history, Principle alone is just an outdated concept.

The thread is about whether you support this tax and how you would use it. I said I am open. Vote to enact it and use it to address the debt and I'll support that.

Paying off your debt is greed in your book?

 

[pknopp]

so your solution is to continue doing it??

better to stop it and lower taxs,,,

Where did I do that and more importantly as I've noted over and over, when someone actually does that I'll take it seriously.

so youre going to sit there and complain waiting for others to solve the problems you complain about and until then just keep taxing people

Should I take over the entire process? Cool.

I support what I claim to support and do not make lame excuses for what I pretend to not support. I've already noted this 3-4 times. I support paying for things. This is a way to pay for things so why would I not support it?

the government can just print money for it so we dont need taxs anymore,,

If you say so.

 

[progressive hunter]

I agree

Right now the super wealthy are only taxed on their income. They are clever enough not to claim income. We cannot touch their wealth.
A small fee on transactions (like a sales tax) will open up their wealth to taxation

How many times should a dollar be taxed, stalin?

These dollars are not taxed like others pay taxes on their dollars. Capital Gains are taxed at a lower rate. I'm all for taxing income as income instead.

So, it's just pure greed then? We need more of their money for government programs that solve problems that don't really exist.

I guess at this point in our history, Principle alone is just an outdated concept.

The thread is about whether you support this tax and how you would use it. I said I am open. Vote to enact it and use it to address the debt and I'll support that.

Paying off your debt is greed in your book?

its your debt not ours,, we didnt vote for it,,

 

[Turtlesoup]

I agree

Right now the super wealthy are only taxed on their income. They are clever enough not to claim income. We cannot touch their wealth.
A small fee on transactions (like a sales tax) will open up their wealth to taxation

Oh brother the opposite. Sales tax hit the POOR harder-------the rich get around sales tax as well as there are sales tax exemptions for business's

 

[Mac-7]

My number was right on the mark.

Not according to my sources
Even if we include 2020 its only $3.5 trillion not $8 t as you claim

US Budget Deficit by Year Since 1969

What has the U.S. budget deficit has been every year since 1969? See how much more the government spends than it takes in every year.

www.thoughtco.com