General Discussion

airplaneman

(1,382 posts)

25. I would do a 1% tax on all stock and derivative trades including funds.

Fri Jan 25, 2013, 01:01 AM

Jan 2013

This would generate about 3.2 trillion dollars a year. 0.03% is way too low. Maybe exempt the first 10K per year per individual to help the little guys out. Look at your 401K the fund managers take 2-5 percent out every year weather you make money or not and weather you buy that year or not. I would also have a government run 401K where they take out 1% a year versus the almost 4% average of fund managers. As it is now in 20 years you get $100 and the fund manager gets $80.00. Under a government run program you get $160 instead of $100 and the government gets $20 as taxes. Mostly the rich own stocks and they make huge profits tax free in a lot of cases. Companies like JP Morgan know how to skim stock so they make a bundle and the little guys make little or losses. Its a rigged game if you really look into it closely.
-Airplane

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Democrats Push to Tax Wall Street Trading [View all] octoberlib Jan 2013 OP

tie it to funding the military Angry Dragon Jan 2013 #1

Now we're talking. JaneyVee Jan 2013 #2

Why not go for one/tenth of one percent? kentuck Jan 2013 #3

The Republicans don't WANT the typical American to know how much the rich have. Spitfire of ATJ Jan 2013 #18

we need this. limpyhobbler Jan 2013 #4

That's the question. The article didn't say. octoberlib Jan 2013 #7

Since much of Europe is adopting a financial transaction tax now (Germany and France, not the UK), pampango Jan 2013 #5

This is FOR the people. MrYikes Jan 2013 #6

Actually, it's a cowardly amount kentuck Jan 2013 #8

I think we're supposed to be content that at least they talked about it, even though it won't happen corkhead Jan 2013 #9

^^^This!^^^ BlueCaliDem Jan 2013 #27

That was my theory as well. xxqqqzme Jan 2013 #28

A chance for the silent virtual filibuster to do it's holy work. Dragonfli Jan 2013 #10

Why not 5% or so? Demo_Chris Jan 2013 #11

It's on each and every transaction related to stock market trading. truedelphi Jan 2013 #13

It would certainly slow volatility wouldn't it Demo_Chris Jan 2013 #23

That high a tax would allow us to eliminate virtually every other federal tax. Egalitarian Thug Jan 2013 #17

Yes Demo_Chris Jan 2013 #24

Republican sulphurdunn Jan 2013 #12

great idea! Fight2Win Jan 2013 #14

For anyone worried that such a tax will hurt Wall Street or banks...(Or Bill Nighy fans) FailureToCommunicate Jan 2013 #15

K&R Sherman A1 Jan 2013 #16

nice idea abelenkpe Jan 2013 #19

Let's hope Congress votes with their integrity and not their love for their owners' $$$$$$ judesedit Jan 2013 #20

YES! This is 110% the right thing to do. 80% of voters will love you for it. JUST DO IT!!! nt 99th_Monkey Jan 2013 #21

This is a great idea, it's helps to solve two problems. DrewFlorida Jan 2013 #22

I would do a 1% tax on all stock and derivative trades including funds. airplaneman Jan 2013 #25

As Europe is going with it, 'elsewhere' shrinks. elleng Jan 2013 #26

"Financial transaction tax?" reteachinwi Jan 2013 #29

Trading Tax Won't Reduce Volatility stocktax Feb 2013 #30