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View Diary: Transaction tax would raise $350 billion over next decade (136 comments)

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  •  You may call them speculators, (4+ / 0-)
    Recommended by:
    nextstep, ManhattanMan, VClib, WiddieDawg

    but arbitrageurs take advantages of buy/sell imbalances to make a quick (but small) profit. And the rest of us benefit as the markets are less, not more, likely to be stable and there is more liquidity for the rest of us when we wish to buy or sell. The real issue here is the program trading that goes on in the closing minutes of the trading day, that actually creates trade imbalances and can exacerbate or even cause market meltdowns. This tax rule could easily be designed for those type of traders, as opposed to anybody who wishes to trade in and out of stocks for arbitrage profits.

    •  Somehow, I don't think day traders and (0+ / 0-)

      program traders live in the real world. They exist in a world of computerized microseconds. But their decisions have disastrous impact on those of us out here just making a living off of our daily labors. They have used marketing to draw the fruits of our labor into their black hole, and then played with our assets it as though they were theirs.

      I don't know how to get equity and fiduciary responsibility back into the equation.

      Somehow, these two worlds need to be severed from each other.

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