Yes, I think day trading is zero-sum I think gains on assets held for less than (say) two days should be taxed at a rate higher than normal income. On a relat

Yes, I think day trading is zero-sum I think gains on assets held for less than (say) two days should be taxed at a rate higher than normal income. On a related note, long-term investment is the good part of capitalism, and I'm ok with taxing gains on assets held for long terms (say 5 years) at a rate lower than normal income. The point is to incentivize people to work hard to find those investments that will pay off in the long run. Implementing the taxes described above would often increase bid-ask spreads; the size of the bid-ask spread could be an indicator of the uncertainty in the market.