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Okay, let's talk taxes that would raise revenue without punishing people who work their rear ends off to climb the ladder. I can't think of anything worse than somebody who works for 40 years, saves a ton of money for retirement, does everything right to live the Good Life only to have the feds say, gimme more.
So how about this: A micro transaction tax on all stock trades where the asset has not been held over X period of time?
So much of the hedge fund wealth is generated by making extremely fast trades, buying and selling assets with very short time deltas between the transactions. How about a rule that says 5% of the asset price is held as a tax if the asset has only been held for less than a certain period of time?
