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Cato Institute person currently trying to justify not having a tiny financial transaction tax and how awful it would somehow be. Republican member now laying i

Cato Institute person currently trying to justify not having a tiny financial transaction tax and how awful it would somehow be. Republican member now laying into how the democrats are being evil because Cato don't like an FTT.

rzz3 6y ago
It sounds pretty awful to me also, so I appreciated their analysis. You’re saying I’d have to pay a tax on every trade I (newer retail investor) make? How in possible hell does that help anything?
- jbob2000 6y ago
  Citadel did more trades in one day than the entire market did in one year. Retail investors do a couple of trades a year. A tax like this would end high frequency trading overnight.
  - joubert 6y ago
    > Citadel did more trades in one day than the entire market did in one year. How is that possible? Surely the market must have more transactions than any individual participant?
    - jbob2000 6y ago
      I'm just referencing what the Citadel CEO said to the Financial Services Committee last week.
- iso1631 6y ago
  You buy $50k stock, you'd pay 50c tax, it wouldn't affect you. You bound 50M in stock between two companies every second in a ladder, you pay $50k/second tax