A tax on stock trading


	A tax on stock trading

Joshua Zumbrun

10-17-2008 10:46 AM

869 views

tags:

tax, traders, how to stop, wall street, mix

Joshua Zumbrun says:

An idea to stop Wall Street from going bonkers again. I don't run a hedge fund so it seems okay to me.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/b2ba74d6-f110-4fe6-9765-0fc5e37e4ec3/4750E6EC-1DD5-42F3-B040-799D633D11F2/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.portfolio.com/views/columns/wall-street/2008/09/18/Advocating-Tax-on-Stock-Trading" href="http://www.portfolio.com/views/columns/wall-street/2008/09/18/Advocating-Tax-on-Stock-Trading" style="font-size: 11px;">www.portfolio.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.portfolio.com/views/columns/wall-street/2008/09/18/Advocating-Tax-on-Stock-Trading"><H2 class="columnHeadline">Reining in the Speculators</H2></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.portfolio.com/views/columns/wall-street/2008/09/18/Advocating-Tax-on-Stock-Trading">
by <A href="http://www.portfolio.com/contributors/Jesse-Eisinger">Jesse Eisinger</A></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.portfolio.com/views/columns/wall-street/2008/09/18/Advocating-Tax-on-Stock-Trading"><DIV class="dek columnDek" id="headDeck">Rapid-fire traders are being wrongly blamed for the downturn. That doesn't mean the status quo should hold. The case for a trading tax.  </DIV></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.portfolio.com/views/columns/wall-street/2008/09/18/Advocating-Tax-on-Stock-Trading"><DIV>
  <SPAN class="dropCap">T</SPAN>housands of people trade trillions of dollars’ worth of stocks, bonds, currencies, commodities, and derivatives every second of every breathing moment.</DIV></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.portfolio.com/views/columns/wall-street/2008/09/18/Advocating-Tax-on-Stock-Trading"><DIV> When you stop and think about it, exactly why should that happen? Does the value of <A href="http://www.portfolio.com/resources/company-profiles/International-Business-Machines-Corporation-156" id="COMPANY_156"><IMG class="popOverLink" src="http://www.portfolio.com/images/site/icn/icon-popNote.gif" />I.B.M.</A> actually change from minute to minute? Is someone always in the process of discovering something truly new and valuable about <A href="http://www.portfolio.com/resources/company-profiles/Exxon-Mobil-Corporation-109" id="COMPANY_109"><IMG class="popOverLink" src="http://www.portfolio.com/images/site/icn/icon-popNote.gif" />Exxon Mobil</A> or the supply of the world’s crude?</DIV></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/4750E6EC-1DD5-42F3-B040-799D633D11F2/blog/" title="blog or email this clip"><img src="http://content9.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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