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He is proposing taxing all stock transactions .5%. I’d pay that and .5% I move my nest egg around adds up. And his projections are pants-on-Fire stupid because
by rhino369 7y ago
He is proposing taxing all stock transactions .5%. I’d pay that and .5% I move my nest egg around adds up.
And his projections are pants-on-Fire stupid because he doesn’t account for the fact all high freq trading would move offshore if they taxed trades .5%.
Sanders is either an idiot or a bullshitter.
- jonahbenton 7y agoYou may be a market timing genius and/or unicorn day trader but generally speaking nobody beats the market and nobody should be moving their own nest egg around, which usually only makes the brokerages money.
- repolfx 7y agoSo the transaction fees get passed on to the people who buy into the funds (except, buying into a fund is also a "financial transaction" so may also end up being taxed). Moreover this logic seems to assume HFT is useless. It's a source of liquidity. Everyone who directly or indirectly invests in the stock market ends up paying for higher liquidity - it's just a case of how easily you can see it.