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WarGamer

(12,301 posts)
Mon Jun 14, 2021, 10:34 PM Jun 2021

The money is THERE, just take it. Part 38

Another trivial fact...

Approximately 15 BILLION shares of stocks trade daily. (2021 so far)

A ONE PENNY/SHARE fee/tax on each and every Wall St. transaction would net 150 million dollars a DAY.

ONE DIME/SHARE would produce 1.5 Billion Dollars a day.

ONE DOLLAR/SHARE would produce 15 Billion dollars a day.

So when some whale buys 1000 shares of Tesla ($620/share) = $620,000 he'd pay either $10, $100 or $1000... in other words, a pitiful amount.

The sons of bitches have the money.

You just gotta' take it.

Since I'm compassionate... make it a penny on stocks under $10, a dime on stocks $!0-100 and a dollar on all $100+ stocks.


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Hoyt

(54,770 posts)
2. Neither Sanders' or Warren's FTTax plans come anywhere close to that.
Mon Jun 14, 2021, 10:50 PM
Jun 2021

Their plans, at best, would produce $100 Billion a year. A good start, but it’s like 1.5 months of the current deficit without infrastructure, healthcare, jobs, childcare, and more.

brooklynite

(94,256 posts)
3. You had me until you decided to disparage the people who are investing...
Mon Jun 14, 2021, 10:57 PM
Jun 2021
The sons of bitches have the money.


No objection to paying taxes to meet our fiscal needs; no need to slam the people you're collecting the taxes from.

Bristlecone

(10,110 posts)
4. I agree. I payed more in taxes last year than ever before because of stock sales
Tue Jun 15, 2021, 12:04 AM
Jun 2021

And I’m not rolling in dough.

WarGamer

(12,301 posts)
8. I'm thinking more of the hedgies and billionaires than "normal" investors...
Tue Jun 15, 2021, 12:27 AM
Jun 2021

But yeah, I let my emotions fly a bit on the topic...

Mopar151

(9,973 posts)
10. Arbitraguers, Program, Hugh Speed Traders
Tue Jun 15, 2021, 01:01 AM
Jun 2021

All are parasites on the market, and any sort of tax would hurt them, and greatly reduce the number of trades overall. All for the best , I figure!

James48

(4,424 posts)
6. Some of my shares are like $3
Tue Jun 15, 2021, 12:21 AM
Jun 2021

So you better not make it a dollar a share.

Just make it a flat-tax of 1%. A decade ago, most s mutual fund investments had a sales charge larger than that. Just make it an across the board transfer tax - and you get the first $10,000 a year without charge, and , if it’s in a 401(k) type retirement account, make it 75% off. You’ll still get plenty.

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