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There was a tax on equity trades prior to 1930. It was dropped in hopes of increasing interest in buying equities after the crash.
Income taxes before 1930 were a lot lower than after the depression. What you're talking about is double taxation and the thing you really want to tax is the income generated from trading/investing not the act of selling an equity.
A better tax than a transaction tax would be some sort of wealth tax on equities.
Wall St makes out like criminal bandits while the rest of the country suffers.
The country sits $14 billion dollars in debt, the infrastructure is in need of repair, and inflation is taking its toll on the dollar and out paychecks.
Computer programs trade millions of shares of stock multiple times a second in order to reap profits or to manipulate prices.
The question is how to fairly redistribute some of their ill-gotten gain.
Does the idea of a sales tax on the sales of stocks and bonds make sense in today’s environment?
Redistribute? Your overall comment seem to lump people that generally are smart enough to find a way to make more money.
To me you are saying you do not like others being more successful in making money so you want to get their earned money because you and others may not be as successful. The solution? Take it away from them.
What does infrastructure has to do with people making money? Infracstructure is something governments from local to federal are responsible for. The country's debt? That is a problem elected leaders have created due to the political decisions they make and we elected.
So if I find a way to make money for my future and end up in better shape than you, you want to take away my money because elected leaders did not take good care of the people's taxpayers?
Some of the things do exists but you lump all business people in the same group. There are many honest and good business people and corporations that make their money honestly and here you seem to take their hard earned money away to distribute it?
To your question I reply we all should get taxed equally regardless of income. We don't claim equality only for the convenience of people that may not earn as much as others. I do not share your views at all, take care.
now you did it, i bet you made the ignore list too. you didnt share his its the worlds fault im not successful view or the i dont get an income myself that way so its okay to tax it view.
its an on going theme and whatever you reply will fall on deaf ears anyway.
now you did it, i bet you made the ignore list too. you didnt share his its the worlds fault im not successful view or the i dont get an income myself that way so its okay to tax it view.
its an on going theme and whatever you reply will fall on deaf ears anyway.
Redistribute? Your overall comment seem to lump people that generally are smart enough to find a way to make more money.
To me you are saying you do not like others being more successful in making money so you want to get their earned money because you and others may not be as successful. The solution? Take it away from them..
You are not hearing what I am saying. We are not talking about people, like I explained before the tax could theoretically be so small that private traders would not notice, but institutions that trade millions of shares a second in order to manipulate markets would.
What does infrastructure has to do with people making money? Infracstructure is something governments from local to federal are responsible for. The country's debt? That is a problem elected leaders have created due to the political decisions they make and we elected.
Where will the money come from to rebuild the infrastructure? Like it or not taxes are needed in order for government to do what it has to do. The age old question is who is going to pay the taxes.
Quote:
To your question I reply we all should get taxed equally regardless of income. We don't claim equality only for the convenience of people that may not earn as much as others. I do not share your views at all, take care
I agree, we all should be taxed equally, and if you think that is the system we now have, you really need to study the subject, because nothing could be farther from the truth. The taxes are concentrated on the middle and upper middle classes. Corporations, the very wealthy and Wall St do not pay their fair share and that is the way it is.
You are not hearing what I am saying. We are not talking about people, like I explained before the tax could theoretically be so small that private traders would not notice, but institutions that trade millions of shares a second in order to manipulate markets would. OK, so they manipulate the market. How does that affect the people? Do they not pay the people for the work done for the insitutions? The bottom line I do not agree with redistribution whether it is money earned by people and/or corporations. Also, many of those shares belong to people that are not rich. They invest in those institutions to make profit for them.
What does infrastructure has to do with people making money? Infracstructure is something governments from local to federal are responsible for. So it is the government responsibility. Again, what do institutions have to do with the infrastructure? I do not see the conections of blaming institutions of trading millions with the infrastructure that is responsibility of the government.
The country's debt? That is a problem elected leaders have created due to the political decisions they make and we elected. I totally agree with you there so that has nothing to do with institutions trading millions. They are not responsible with the national debt.
Where will the money come from to rebuild the infrastructure? Like it or not taxes are needed in order for government to do what it has to do. The age old question is who is going to pay the taxes. Agreed here too. To me infrastructure is a vital link for commerce in this country. To me that has nothing with redistribution so taxes are needed for that area.
I agree, we all should be taxed equally, and if you think that is the system we now have, you really need to study the subject, because nothing could be farther from the truth. Are you inferring I agree with the present system? For clarification I do not. I believe in principle with the Fair Tax proposal even though it may need some fine tunning.
The taxes are concentrated on the middle and upper middle classes. Corporations, the very wealthy and Wall St do not pay their fair share and that is the way it is.
I believe here is where you may miss part of the picture. I do believe corporations do pay a fair share. Why? whether we agree with tax loopholes or not the reality is that they pay less because a lot of tax breaks money goes to many organizations that help the people and the communities. So it does look like they pay less taxes when in reality a lot of that money does go back to the people. The money they donate out there is tremendous. Do they donate because they have a good hart. Maybe not but the end result is giving back a lot of the money to society. Take care.
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