Friday, September 26, 2008

Peter DeFazio wants a 0.25% tax on stocks

Oregon's congressperson person Peter DeFazio is calling for congress to put a 0.25% tax on all transactions of stocks.

He states why should the average tax payer bail out wall street instead let Wall street pay for their bailout.

I think there are many people that feel like him. Thought giving that yesterday congress as already reach an agreement I wonder if it is to late for DeFazio to try and past this bill.

I think a lot of people would be behind hit and it a really small tax that I don't think most people that invest in the stock market will be heavily hit by it.


robert said...

The average trader did not cause the downturn. If you really want to see wall street crash, go ahead and follow this fool.

Martin Jackson said...

at such a small percentage that tax will not effect most stock traders but due to the volume of stock sold everyday will be a great source of revenue for the nation.

also if you look at countries that have similar taxes or at the period when we did have that tax and the chances of market crashes are about the same as without the tax