WASHINGTON—Progressive Democrats renewed their push to curb high-frequency trading, introducing a bill Tuesday that would impose a 0.1% tax on financial transactions such as stock purchases and derivatives trades.
The bill has virtually no chance of becoming law this year, but it is part of the suite of ideas Democrats are considering as they develop policy proposals for the 2020 presidential and congressional campaigns. For Democrats searching for revenue and concerned about wealth and power concentrated in the financial...
Leftist socialist DEMS objective is to tax everything that moves and does not move and to just confiscate the rest. Totalitarianism & Fascism is DEM aim and to make all dependent upon big government except for the politically well entrenched who will dine on caviar & lobster.
By progressive, they mean progressively higher taxes
Taxing financial transactions will permanently cripple the stock market. Investors will be forced to wait for opportunities that pay out a higher ROI to cover the cost of the risk and of the new tax. Liquidity will dry up on day 1 of the new tax. It will get exponentially bad.
Tax and spend an impending disaster
'The Investment Co Institute estimates that the tax would have the same effect as raising the average 401(k) plan expense ratio for equity mutual funds by 31%.' !!! And that's '0.1% tax on stock, bond and derivatives transactions' which if adopted would of course go up. Dems 👎
Good - more money for the Dems to piss away!
Chuck Schumer, Nader, Gillibrand won’t like this at all and will likely kill it.
No way just look at the tax money soent on illegals, go get it there.
Always want more taxes
Our National Debt is not caused by SS, Medicate or other Entitlements. It has been created by over 35 years or Reagan and the GOP 'Cut taxes on the rich and wealth will trickle down' scam. A WW2 debt on the decline reversed and is now $22 Trillion +. GOPs never ending lie.
TheDemocrats continue their never-ending search to find a way to ruin our strong economy. What is it that they hate the most - the low unemployment in every demographic, higher wages or fewer people dependent on government programs?
How's my hair mom?
This is going to deter people from moving money! Force people into using firms. Just a corporate grab and, political grease. As someone who consistently votes Democrat, I’m starting to wonder about their intellectual aptitude...?
Sure, how about a toll booth to enter a bank. Makes perfect sense. 🤡
... so is it 'all Democrats' or just 'Progressive Democrats?' Not very clear. Do 'all democrats' ever agree on anything, and how do I know if one is 'Progressive?' Is their a 'Progressive Democrat Party' or is it just a label Journalists get to decide on? LetterToTheEditor
What kind of foolishness is this?!
MOAR FREE STUFF!