Tuesday April 24, 2018
SNc Channels:

Search
About Salem-News.com

 

Jun-10-2011 15:41printcomments

A Tax whose Time has Come...

It would be nice to see such additional revenue go towards payment of our national debt instead of into the pockets of Wall Street speculators.

Wall Street
Wall Street

( VADNAIS, HEIGHTS, Minn.) - Some members of Congress are proposing a tax on stock transactions. Such a tax would have very little impact on most of those buying and selling stocks because of proposed tax limitations on ordinary transactions.

A stock transactions tax would incur extra costs mostly to those who are speculating by perpetually buying and selling the same stocks multiple times a day.

It's what's known as 'churning'. Those engaged in that practice usually turn a small profit on each transaction, but make many millions on sheer weight of trading volume.

I fail to see how churning benefits anyone but the speculators.

Even though a stock transactions tax, as has been proposed, would be .0025%, it would have negligible effect on most investors.

It's estimated that a stock transactions tax would generate about $50 to $100 billion dollars a year in tax revenue -- no small piece of change!

It would be nice to see such additional revenue go towards payment of our national debt instead of into the pockets of Wall Street speculators.




Comments Leave a comment on this story.
Name:

All comments and messages are approved by people and self promotional links or unacceptable comments are denied.



Danielis June 10, 2011 8:08 pm (Pacific time)

Unless the term has changed its meaning over the last quarter century, when I was in business "churning" is what a broker did--buy and sell stocks unnecessarily on behalf of a client in order to increase his commissions. I don't know if it was actually illegal, but it was certainly unethical and a broker who did it would be punished and even dismissed for the practice.

[Return to Top]
©2018 Salem-News.com. All opinions expressed in this article are those of the author and do not necessarily reflect those of Salem-News.com.


Articles for June 9, 2011 | Articles for June 10, 2011 | Articles for June 11, 2011
The NAACP of the Willamette Valley

googlec507860f6901db00.html
Tribute to Palestine and to the incredible courage, determination and struggle of the Palestinian People. ~Dom Martin

Your customers are looking: Advertise on Salem-News.com!


Support
Salem-News.com: