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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.
Tax the transaction, tax the income, tax the gains, tax tax tax tax. This is all these socialist know...
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.
It’s funny when someone like Omar so obviously sells out to the establishment. That’s what happens when you marry your brother for immigration purposes. They tend to use that against you later to play ball the way they want you to play ball.
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.
Location: Was Midvalley Oregon; Now Eastside Seattle area
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Made something like 20 trades today. Small trades of 1-50 shares. About $10K. At 2 mills tax, about $20. Portfolio had overall paper gains of $3k. Survivable. It's an expensive hobby.
My capital gains are already taxed now they want to tax every transaction. Remind me again how much my fair share is.
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...
We have sales taxes for the transfer of goods, why not a transaction tax on the sales of equities? We already treat equities favorably, with capital gains having many tax exemptions, and at a lower rate than income taxes.
Seems reasonable to me, and would help close our budget deficit.
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...
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.
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