Cato Institute person currently trying to justify not having a tiny financial transaction tax and how awful it would somehow be.
Republican member now laying into how the democrats are being evil because Cato don't like an FTT.
Republican member now laying into how the democrats are being evil because Cato don't like an FTT.
Retail investors do a couple of trades a year.
A tax like this would end high frequency trading overnight.
How is that possible? Surely the market must have more transactions than any individual participant?
You bound 50M in stock between two companies every second in a ladder, you pay $50k/second tax