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Expect a new class of companies to spring up overnight that are dedicated to bundling transactions to avoid this new tax. For instance, I could make a single tr
by organsnyder 7y ago
Expect a new class of companies to spring up overnight that are dedicated to bundling transactions to avoid this new tax. For instance, I could make a single transaction to my broker that covered all of my expected expenditures for the month, and that broker would then disburse it to my payees, bundling it with funds from other payers to avoid the tax on the other end.
I am strongly in favor of a tax on all stock market transactions, though—anything to deter HFT, which IMHO has little societal benefit while externalizing a ton of risk.
- gamblor956 7y agoWouldn't work. Tax law can tell the difference between an individual transaction and bundled transactions. It's also the only area of law that allows for ex post facto changes to the criminality of acts.
- himinlomax 7y agoTax law already handles much more complex schemes. Admittedly nowhere near perfectly, but then this scheme being simple frees up resources for policing, and the tax code being much simpler makes it less easy to exploit.