A large driver of commodity price increases (the price of oil is a good example), and instability of the economy is the nearly instantaneous trading done by computer algorithms used by day traders and many large banks and hedge fund managers. The miniscule tax proposed would cost normal traders in the market almost nothing but will be costly for traders who buy and sell daily, hourly, by the minute, or for many traders every few seconds, for the sole purpose of obtaining profit while creating no value to the overall economic well-being of society. A small tax on each trade would greatly reduce rapid, speculative trading, calming the market and generating new revenue to help reduce budget deficits, help protect existing jobs and spur new job creation.
This is historical material “frozen in time”. The website is no longer updated and links to external websites and some internal pages may not work.
