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Did anyone else notice that his math is off? If each sell and buy is taxed at $.10, wouldn't the total tax on a stock transaction be $.20? A fixed value per s
by cconstantine 18y ago
Did anyone else notice that his math is off? If each sell and buy is taxed at $.10, wouldn't the total tax on a stock transaction be $.20?
A fixed value per stock seems foolish, why not make it a percentage. And, a percentage of the total value isn't very fair (stock values would have to go up significantly for it to be worth buying/selling. So, we'd have to tax just the gains... the capital gains.
Oh right, we already do that. It's called capital gains tax.
- jrockway 18y agoOh right, we already do that. It's called capital gains tax. No, capital gains tax taxes gains. This will tax losses as well. It seems "unfair", but I think this could prevent people from liquidating "slightly bad" positions that will probably recover.
- cconstantine 18y agoThat's one side of the argument, but it will be punishment on top of loss.
- nradov 18y agoThis type of tax is usually called a "stamp tax". China has such a tax, although it's quite low. http://www.china-embassy.org/eng/xw/t428357.htm http://www.china-embassy.org/eng/xw/t428357.htm