In today's paper: "It's Treasury's turn for a bailout now"

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Old 03-22-2012, 06:24 PM
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Villages PL Villages PL is offline
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Smile In today's paper: "It's Treasury's turn for a bailout now"

A man wrote a letter to the editor suggesting that "Wall Street" should pay a fee of one cent per day per share of stock trading at higher than $5. And the money would be sent to the U.S. Treasury for debt reduction.

The purpose would be for Wall Street to repair its image etc.. Since we bailed them out, now it's their turn to bail the rest of us out of debt.

The way I see it, the fee would end up being paid by those of us who buy and sell shares of stock. If it's charged to the broker, the broker would just pass the fee on to us. The same goes for mutual funds etc.

We would pay the fee but we're not the ones who got bailed out. I didn't get bailed out and my broker in NY didn't get bailed out. Did you get bailed out?

And why set up an extra tax when we are already being taxed? My broker pays taxes on the money he earns and so do I.
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