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I tend to agree. Trading stocks is essentially gambling but almost worse. The odds are rigged but you don’t know by whom abs how much. It’s a game of skill, exc
by IgorPartola 6y ago
I tend to agree. Trading stocks is essentially gambling but almost worse. The odds are rigged but you don’t know by whom abs how much. It’s a game of skill, except not entirely. The house always wins except there are multiple houses and you can lose to all of them.
I think investing is a different beast: that is going long on a company, industry, or the market in general. You reasonably know that the market will over time go up. With specific industries or stocks you take a bit more risk but you are still buying ownership of a thing and things tend to become more expensive over time unless a better thing comes along. But short term gains chasing, especially as a retail investor is just gambling.
- midasuni 6y agoStick a 1% tax on all share buys and use to reduce income tax for working people, or just issue it as a cheque at the end of the year that people can invest. That doesn’t harm investing
- catmanjan 6y agoUh, that's a great idea, has this ever been proposed formally?
- deleted 6y ago[deleted]
- spiralx 6y agoFinancial transaction taxes have been introduced in any number of countries, the majority of which have ended up repealing them: the tax raised on transactions is outweighed by the loss of capital gains caused by a reduced number of transactions occurring. And in today's global financial system you could end up like Sweden, where introducing an FTT saw 80% of trading move to London within a year...
- nemo44x 6y agoThe Net Investment Tax is a better way and already exists. It taxes actual gains over a threshold so “the little guy” is unlikely to pay.
- greggyb 6y agoSure it does. Any investment with an expected return of <1% immediately flips from positive value to negative value for an investor.
- hntrader 6y ago"That doesn’t harm investing" Not true. The cost will be largely passed on from market maker to investor through bid offer spread.