Here is what he is pushing for: https://en.wikipedia.org/wiki/Financial_transaction_tax#United_States
Please show where Sanders expressly and presently proposes those numbers. Serious request. I'm principally interested in futures, and the only number that I saw associated with him, on his own web site, was 0.005%, if memory serves. Since then, I have not been able to find any specifics on his site.
0.005% is just to test the waters. The wiki article is a good indication of the expected ballpark range of FFT. As far as I am concerned even 1c is too much.
I think you're reading too much into it. None of us here likes the idea of FTT, but let's try to keep it real. "Testing the waters?" Come on. Even Sanders wouldn't kill the cow that gives us milk. He may just squeeze it a little. And even that is unlikely, since Clinton will probably get the nomination. Even if Sanders won the Democratic nomination and the general election (two big ifs), the FTT is still not a lock. As for your "even 1 cent is too much," seriously, please stop with the overkill.
I don't for a moment believe they are proposing it to generate revenue - I think the revenue argument is a smokescreen. I think the argument is an attempt to modify trading behavior.
The ignorance and anti-capitalist nature of politicians like Sanders must be exposed anyway. If not Sanders then some one else might catch the virus of this dangerous idea.
You only tell half of the story. If you trade, the purpose is to make money. You don't speak about the profits, only about the cost. If you can make 1 points ES every trading day, you will have 250 trading days*1point at $50 equals $12,500 profit. That is 2500% if I calculate like you do. So total result would then be: $12,500- $2,310 (462% on $500) or a net profit of $10,190. Just 1 point a day. Schizo makes more than that.
Not really sure how Bernie's election would effect trading, but I think after New Hampshire, the markets are a bit rattled that he is running close as a democratic nominee. Might be better if Bloomberg stepped in quickly and took the uncertainty away on the Democratic side. Not sure if it is too late or not for Bloomberg to enter but he probably should. Trump would be ok as a nominee on the Republican side regarding trading (probably better than the other repubs). I think Bernie is the one rattling things though.
So you're exaggerating to make a point? Sounds like propaganda. In fact, even though Sanders is a self-described "democratic socialist," he is not an anti-capitalist. He just seeks a balance you do not agree with. Although I dislike the FTT idea, I think his other platforms are thoughtful and have merit.