Not even that; 0.1% per trade would bring in a huge windfall. Even something negligible like 0.01% would bring in nontrivial amounts of revenue.
The problem is that being above paying tax has become part of the identity of being rich, and the very idea of even a negligible amount of one’s wealth being taken away to be given to your inferiors is unacceptable, and the rich will defend every fluctuating cent of their wealth as a non-negotiable matter of honour, even if it means burning down the world.
Years ago they tried to pass a minimum amount of time you had to hold a stock before selling…
It was a fraction of a second and neoliberals and Republicans immediately united to tell everyone how antithetical to America that was.
For some reason, that wasn’t enough to show people that both groups have the same priorities and we can’t fight an oligarchy with fucking oligarchs.
We’ll never win if only a handful of politicians are actually on our side.
But it’s almost impossible to compete against dark money in a primary, and the people running the DNC know that. So they’ll never agree to get dark money out of primaries. It’s the only reason they’re still holding back progressives.
Even a 1 or 2% per trade would bring massive amounts of money, not even trying to make it progressive or anything.
Not even that; 0.1% per trade would bring in a huge windfall. Even something negligible like 0.01% would bring in nontrivial amounts of revenue.
The problem is that being above paying tax has become part of the identity of being rich, and the very idea of even a negligible amount of one’s wealth being taken away to be given to your inferiors is unacceptable, and the rich will defend every fluctuating cent of their wealth as a non-negotiable matter of honour, even if it means burning down the world.
Years ago they tried to pass a minimum amount of time you had to hold a stock before selling…
It was a fraction of a second and neoliberals and Republicans immediately united to tell everyone how antithetical to America that was.
For some reason, that wasn’t enough to show people that both groups have the same priorities and we can’t fight an oligarchy with fucking oligarchs.
We’ll never win if only a handful of politicians are actually on our side.
But it’s almost impossible to compete against dark money in a primary, and the people running the DNC know that. So they’ll never agree to get dark money out of primaries. It’s the only reason they’re still holding back progressives.