Thursday, October 16, 2008

o Securities Turnover Excise Tax

The idea of taxing security transactions has been floating around the internet but has not been considered yet by Congress. A Securities Turnover Excise Tax is a small tax on every stock, swap, derivative, or other trade.

You can find out more by searching the following:
  • "How Wall Street Can Bail Itself Out Without Destroying The Dollar" By Thom Hartmann
  • U.S. Congressman Dennis Kucinich from Ohio
The money for the bailout is going to have to come from somewhere. Volatility from day trading may also go down because of a transaction tax.
Posted by ljp at 8:19 PM

1 comment:

mpc said...

The global crisis is causing people to get out of 'risky' emerging market currencies and buy dollars. This is boosting the value of the dollar and dropping the price (to us) of gold, silver, oil, etc. Here's a story about it:

http://www.bloomberg.com/apps/news?pid=20601087&sid=aQIeZEyQjwII&refer=home

Good thing I didn't have enough money to buy silver last week. The trick now will be to try to figure out when the dollar reaches its peak, and to buy commodities then.

October 27, 2008 at 1:10 AM

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