Reply #17

A 10% tax on stock market transactions would raise 10 trillion dollars a year. We can pay off the national debt in two years. Hell call it an Emergency Tax. We can make the people who got this country into the debt mess pay to fix it. It would also make markets more stable by discouraging High Frequency Trading.

"The proposal would hit especially hard those hedge funds and large banks earning hefty profits despite the shaky economy from a practice known as high-frequency trading. High-frequency traders use powerful computers to conduct hundreds of thousands of orders in mere seconds, taking advantage of slower (human) traders."

Lets say you trade 13,000 shares of a stock at $26. That's $338,000. Under this plan the seller would pay $33,800 to the Government to help pay down the debt. Leaving $300,000. The buyer wouldn't pay the tax until they traded the stocks.