Beijing...................................
This bill may have merit. If I have to pay income tax on my social security income just because I planned my retirement well, why shouldn’t these traders pay a transaction tax on these microsecond trades that occur only to enhance their opportunity to make a buck. The tax would not do measurable harm to a trade made to be parked in a 401K or a pension fund for an extended period of time. These micro-second traders add no wealth to our economy. They are like ticks on a deer—pure parasites living off the labor of others.