Rep IIhan Omar Wants To Tax Stock Transactions (legal, marijuana, financial) - Politics and Other Controversies -Democrats, Republicans, Libertarians, Conservatives, Liberals, Third Parties, Left-Wing, Right-Wing, Congress, President - Page 3 - City-Data Forum

rjshae · 02-01-2021, 08:01 PM

I don't think I'd have an issue with a tax on short selling. Long-term investment should be left alone.

The Dark Enlightenment · 02-01-2021, 08:08 PM

Quote:

Originally Posted by andywire

When you've never produced something of use, it's very easy to propose taking from those who have. People/workers trying to save and invest for retirement will be hurt the most, as another poster pointed out.

In fairness, stock traders don't produce anything either. Taxing transactions more heavily might be preferable to other types of taxes.

Loveshiscountry · 02-01-2021, 08:19 PM

Quote:

Originally Posted by anononcty

Representative IIlhan Omar wants to tax stock transactions. Said it could be 2.4 TRILLION dollar tax revenue over a decade and would stop high frequency trading and stabilize the stock market.

https://www.msn.com/en-us/news/polit...ck/ar-BB1dbM0a

Pelosi wont go for it. She makes too much money with her insider trading knowledge.

Loveshiscountry · 02-01-2021, 08:20 PM

Quote:

Originally Posted by andywire

According to democrats, they are the reason you have the opportunity to enjoy any capital gains at all. For you see, they could just take it all away from you at any time, and you would have no choice but to let them. Fortunately for you, they are nice enough to allow you the privileged to enjoy some of the spoils of your own work and effort... How nice of them not to steal it all. This is the part where we are supposed to thank them...

Clinton did reduce the capital gains tax which helped the economy.

J746NEW · 02-01-2021, 08:27 PM

Quote:

Originally Posted by andywire

When you've never produced something of use, it's very easy to propose taking from those who have. People/workers trying to save and invest for retirement will be hurt the most, as another poster pointed out.

I was not sure if you were talking about Billionaire Hedge Fund Investors.....What are they producing?

anononcty · 02-01-2021, 08:41 PM

It's one thing to throw a tax net profit but another per transaction. Not every trade or sale is profitable.

AnesthesiaMD · 02-01-2021, 08:56 PM

She thought marrying her brother was a good idea too.

Who takes this dimwit seriously, anyway?

elvis44102 · 02-01-2021, 09:04 PM

Quote:

Originally Posted by ChrisC

You know, sadly, there are people who actually DO feel that way.

The founders of this nation were trying to protect us from such people. Unfortunately those who feel as you pointed out in your post have voted to end our protection from the government and replace that protection with subjugation and exploitation.

the founders of this nation rebelled against the money system from the bank of England imposed on the colonies the modern stock market had not yet been invented....

boneyard1962 · 02-01-2021, 09:08 PM

Quote:

Originally Posted by NeverTrump

Kind of ridiculous how many tax advantages exist for people who gamble in the stock market vs work for a living, so I feel her on that.

In lieu of a wholesale reform of taxes to make things more equitable, this could be a good idea.

I don't. Reps like her are great about wanting new taxes but stay clear of spending cuts.

10 year period.

1. Cut foreign aid by 5 billion a year = 50 billion over 10 years.

2. Cut defense spending by 100 billion a year= 1 trillion

3. Cut Money to the UN by 1 billion. = 10 billon

4. All congress critters pay for their own health insurance. People making $174,000 a year can afford to buy their own health insurance.

5. Desolve the department of energy. Merge federal police agencies like ATF, DEA, US Marshals, and the FBI. Less redundancy is not a bad thing.

Lets talk cutting costs before we talk increasing taxes.

formerlynorthofnowhere · 02-01-2021, 09:20 PM

Quote:

Originally Posted by andywire

According to democrats, they are the reason you have the opportunity to enjoy any capital gains at all. For you see, they could just take it all away from you at any time, and you would have no choice but to let them. Fortunately for you, they are nice enough to allow you the privileged to enjoy some of the spoils of your own work and effort... How nice of them not to steal it all. This is the part where we are supposed to thank them...

Heard their new tax plan is "How much Did you make?, Great we'll take it".