Mark Cuban: place a 25 cent-per-share transaction fee on Wall St. trades
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Re: Mark Cuban: place a 25 cent-per-share transaction fee on Wall St. trades
#2( This article located due to mention by ruang: http://news.ycombinator.com/item?id=1331269 )
Re: Mark Cuban: place a 25 cent-per-share transaction fee on Wall St. trades
#3It might be better just to put the damn money in a trust to pay off the national debt. God knows everyone with the money to be trading on Wall St. is responsible for that debt.
Re: Mark Cuban: place a 25 cent-per-share transaction fee on Wall St. trades
#4Tax Silicon Valley! And give it to those without factory jobs!!!! After all it was Silicon Valley innovation that allowed the robots to take our jobs!!!
edit: you laugh now...
Re: Mark Cuban: place a 25 cent-per-share transaction fee on Wall St. trades
#5eh, then Wall St. will just pass the extra expense on to Main St. in the end.
its a lose-lose solution
Re: Mark Cuban: place a 25 cent-per-share transaction fee on Wall St. trades
#6Why tax 25 cents on a $80,000 stock (like whatever Berkshire-Hathaway is now), and 25 cents on a "penny dreadful"?
I understand the point of view - tax away high-frequency trading, but have we really thought things through? Obviously not.
Re: Mark Cuban: place a 25 cent-per-share transaction fee on Wall St. trades
#7Tax Silicon Valley! And give it to those without factory jobs!!!! After all it was Silicon Valley innovation that allowed the robots to take our jobs!!! edit: you laugh now...
Did you read the article? The proposal seems reasonable to me, much more so than your comment gives it credit for: a small per-share transaction fee which could be fed into "an annual payment towards the next time Wall Street screws up and we have a black swan event that no one planned on".
It's just an inflammatory, link-bait headline (which maybe I should edit).
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edit: I changed the title from its original, "Mark Cuban: Tax the hell out of Wall St. and give it to Main St.", to the current "Mark Cuban: place a 25 cent-per-share transaction fee on Wall St. trades"
Re: Mark Cuban: place a 25 cent-per-share transaction fee on Wall St. trades
#8Why tax 25 cents on a $80,000 stock (like whatever Berkshire-Hathaway is now), and 25 cents on a "penny dreadful"? I understand the point of view - tax away high-frequency trading, but have we really thought things through? Obviously not.
FTA: "You could reduce the tax per share for stocks under $5 dollars to 5 cents. But I would leave it at 5 cents even for stocks priced at pennies per share or less."
Re: Mark Cuban: place a 25 cent-per-share transaction fee on Wall St. trades
#9Tax Silicon Valley! And give it to those without factory jobs!!!! After all it was Silicon Valley innovation that allowed the robots to take our jobs!!! edit: you laugh now...
Did you read the article? The proposal seems reasonable to me, much more so than your comment gives it credit for: a small per-share transaction fee which could be fed into "an annual payment towards the next time Wall Street screws up and we have a black swan event that no one planned on". It's just an inflammatory, link-bait headline (which maybe I should edit). ----- edit: I changed the title from its original, "M…
Not only is the title link-bait. The plan is pure red meat. We all know that it's not just financial engineering responsible for the crisis. It wasn't just Wall Street. Wall Street just happens to be Washington's latest political scapegoat. What I'm saying is beware when their attention turns westward.
Re: Mark Cuban: place a 25 cent-per-share transaction fee on Wall St. trades
#10What about a better idea - take away the tax incentive / mandated 401k contributions and allow "Main St." to stop being at the mercy of Wall St.