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The higher is capital turnover the higher are the government revenues in form of capital gains. The long-term investors who hold stocks for 10 years don't give much to the government as capital gains.

Agreed. Banks are business entities and their main goal is to make profits. They are not government servants as the government wants them to be. If it succeeds to bring them under it's clout they'll stop being profitable. You can't have it both way: highly regulated and profitable.

Go trade tomatoes then. 100% computer free and transaction tax free market. And socially useful as well.

This is an annual limit.

That's right. It's called free market economy.

I have never heard of section 31. Maybe you can provide the link. As for inheritance tax the inheritance ( as an one time expense ) has nothing to do with the capital turnover and it's taxation which is at the heart of economic system. And besides as we all see taxes are part of legislation and...

I don't think there is any effective way to safeguard against a harmful legislation unless it's proscribed by the constitution.

Taxing after-tax money that didn't make any profits ( new money ) yet must be unconstitutional. Only new money should be allowed being taxed not old money all over again.

http://www.marketwatch.com/story/wall-street-owes-a-debt-to-main-street-2009-12-03

Great thinking, Mr. Green. We all call it tax but it's not even a tax in it's usual sense because taxes are normally applied to the profits of the corporations. http://en.wikipedia.org/wiki/Corporate_tax Correct me if I am wrong but it would be unprecedented in the history of US...

Is it possible to sue the government for killing off the source of your livelihood through excessive and unfair taxation?

What is your downside under this deal?

If transaction tax bill passes the senate what are the chances that Obama signs it into law? After all wasn't it wall street who voted him into office?

No trader in his right mind would be for this tax.

So why not apply the tobin tax exclusively to the speculators and leave long-term investors out of it? The problem is they can't do it. They can't tell them apart. They have to tax everybody because everybody is investor and speculator at the same time. If investor is losing money by holding...

Did he? Do we have his track record? Only showman who has a vague idea about trading business won't see that this tax simply puts the traders (including his viewers) out of business. His passion is with his show not trading.

Good point.

Agree. This is a declaration of war, not by the power of arms but by the power of law. Sadly but true.

How about exemptions for market makers and specialists? Will it be in the bill?