Skip to main content

View Diary: Part 10: Another reason to support The Robin Hood Tax (12 comments)

Comment Preferences

  •   I would favor a flat 1% tax (0+ / 0-)

    split between the buyer and seller, on stocks bonds and derivatives.  its flat, that is it stays the same , percentage-wise, whether the value of the  stock is $1 or $1000000, but how much the tax brings in goes up as the value does. if the stock  is 1 dollar, the tax is a penny, if its 1 million, its 10000 dollars. while some may go overseas, good businesspeople will take the tax into account and adjust their stock plan accordingly. We had a transaction tax in this country from 1913-64, and it varied from time to time, but by the end it was .11 on stock and .05 on bonds. Currently the only tax at all is the section 31 fee which is a tax of .0034 but raises billions every year to fund the SEC.  adding 1% tax to stocks and bonds would give the feds a cut in the profits, much like how everyone antes up in a card game before the cards are dealt, the fed doesn't care if trades are  even as long as it gets its share.

Subscribe or Donate to support Daily Kos.

  • Recommended (141)
  • Community (59)
  • Elections (39)
  • Civil Rights (36)
  • Culture (32)
  • 2016 (32)
  • Law (27)
  • Environment (26)
  • Texas (26)
  • Economy (26)
  • Baltimore (26)
  • Bernie Sanders (24)
  • Labor (23)
  • Hillary Clinton (22)
  • Republicans (18)
  • Rescued (18)
  • Health Care (18)
  • Barack Obama (18)
  • International (17)
  • Media (16)
  • Click here for the mobile view of the site