Quote:
Originally Posted by skyking
But it would hit the day traders the hardest. That's not bad.
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FYI - Day Trading rules have changed substantially. They are taxed pretty much as you and I at a real job. Any profit from a trade held less than 30 days is taxed as income not capital gains. Then there is another thing called the wash rule which in essence limits loopholes that show loses on paper for the purpose of ducking taxes.
I'm not discounting the idea of taxing the market but in reality it would be hard to target a group that ultimately doesn't get back to the little guy - example pension funds and 401Ks.
One thing for sure we will pay one way or another but how and when. Pray that it won't be in the form of inflation which would hit the retired class the hardest.