Bernies proposed 0.5% "stock transaction tax"

So, how bad would this wreck things? 0.5% of what? transaction value? that he can take from me and give to some deadbeats because of their bad decisions to take out loans? this isnt fair to those who paid off loans, never took them, or worked and payed their own way, or were self educated

https://www.forbes.com/sites/zackfr...dent-loans-debt-forgiven-impact/#7160b4b574e9

 

I wouldn't worry. Once it looks like Sanders has any chance Wall Street will go all in against him.

 

America was intended to be a meritocracy in all aspects.

The Left HATES that and uses wealth redistribution in an effort to buy votes... so that the Lefty elites can be in control and tell everyone how to live, what can be said, what to think, etc.

 

A tax like that would dry up liquidity pretty fast and increase volatility in the markets.

 

Yes, it would, almost surely with 100% probability

 

The tax will not get any real support but his comment that Wall Street was bailed out big time with all our money and they should not get so many tax breaks is a sound idea. They fucked up and we all had to chip in with no repercussions to them? I would think both sides would be upset at the billions thrown at them with no repercussions. Charging 1 cent a transaction will have no affect on the market but will raise revenues.

BUT, I don't feel the money should be used for loan forgiveness or outright make state universities free (state taxes cannot cover all of it but it can be more affordable and fuck private schools). There are better uses for such revenue perhaps.

 

a tax of 1 penny per transaction would be reasonable but 1 penny per SHARE or 0.5% would be really bad, in the sense that it would make many liquidity providers have to cease operations, and probably end up generating less revenue than they expected due to all the market participants adapting to it

 

Yeah 1 cent per transaction, it could work but how the money will be used is the bigger issue. with such a huge deficit this will not make a dent and we are adding more spending. I certainly think Wall street can be stripped of some of its tax breaks..the bailout was pretty huge.

 

Charge a penny per trade but make the banks pay it, not the little guy.
Every trade on any exchange gets a penny charge and the banks split it between them based on market cap or another metric (so they don’t go private to avoid it).

 

0.5% per transaction would put a dent on HFT. No little guy is doing that. Question is, that on value or fees?