kyzr
Diamond Member
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.
"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."
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
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."