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kentuck

(111,076 posts)
Sat Apr 6, 2013, 03:27 PM Apr 2013

Why can't we do this?

If we are in such dire straits with debt and deficits, why can't we put a small tax on stock transactions? One-half of one percent tax on every trade would do miracles at raising needed revenues.

Why can we do nothing about businesses and wealthy individuals evading taxes by hiding their wealth in foreign accounts? We read that there may be over $20 trillion dollars in these accounts around the world? Is there nothing we can do to prevent this from happening? Shouldn't wealth creation be used for something besides stockpiling for personal gain?

Why can't we raise the limit on payroll taxes on incomes up to $450K per year? How come they were due a tax cut when the Bush tax cuts expired but they don't have the same obligation to pay taxes as those making less than $110,000 per year? That would easily solve the Social Security funding "problem" for the next 75 years. Why can they not do this?

Why can they not take the money out of our political system? As it is, we have the best politicians that money can buy. Why can't we change this?

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Why can't we do this? (Original Post) kentuck Apr 2013 OP
The UK does it and has done so for years. It's the thing to do, economically and for the good of the byeya Apr 2013 #1
NY actually does tax stock transactions. redwitch Apr 2013 #2
We can't do that, but Congress can. MineralMan Apr 2013 #3
Go Here, And Read The Entire Thing: WillyT Apr 2013 #4
Nurses have called for that one for years. Warpy Apr 2013 #5
It's not like there are no solutions... kentuck Apr 2013 #6
We have a legal fiction defining stock transactions as "trades",... Spitfire of ATJ Apr 2013 #7
In that case... kentuck Apr 2013 #8
It's kinda like this... Spitfire of ATJ Apr 2013 #10
Definitely a stellar idea. limpyhobbler Apr 2013 #9
 

byeya

(2,842 posts)
1. The UK does it and has done so for years. It's the thing to do, economically and for the good of the
Sat Apr 6, 2013, 03:29 PM
Apr 2013

USA in general.

redwitch

(14,944 posts)
2. NY actually does tax stock transactions.
Sat Apr 6, 2013, 03:30 PM
Apr 2013

It adds up to very big dollars every year. Which they promptly give right back.

 

Spitfire of ATJ

(32,723 posts)
7. We have a legal fiction defining stock transactions as "trades",...
Sat Apr 6, 2013, 04:06 PM
Apr 2013

....and since there is no "sale" there is no "sales tax".

Kinda like how that spill of black liquid in Arkansas is exempt from laws regarding oil spills because it's not legally defined as "oil".

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