2016 Postmortem
In reply to the discussion: John Lewis and Hillary Clinton’s problem with millenials [View all]cascadiance
(19,537 posts)... for "free" at all of our expense in their efforts to turn wall street trading in to a casino.
We actually used to have this transactions tax to fund the SEC up until the 60's, when it wasn't needed any more to fund that agency then. Wall Street worked fine up until then with that tax!
It really only affects those that want to trade *for FREE* a million times as a minute to play the trends of the value of stocks going up and down versus those real trades that happen only a fraction of the time to reward the companies of the stocks being traded with increased value if their actions deserve it or penalize them if they aren't. The latter is what our stock market was designed to be, not to be a casino. Only those trying to use it as a casino are going to be affected that much!