Financial speculation tax. Very high tax on profits from sale of stocks owned less than 1 second. Tax rate decreases the longer investments are owned, eventually reaching 0% for investments that are owned a very long time (several years). Tax would be on top of income, capital gains, or other taxes and would apply to all relevant financial instruments including futures contracts, derivatives, and short sales.
A financial transaction tax on Wall Street - a win- win situation for all. It it will raise needed revenue, it may cut down on some of the unnecessary high frequency trading that undermines the market long term and most of all, it minimally taxes those that have been making unconscionable amounts of money/ bonuses on Wall Street.This tax should not be passed down to the Average Joe investor and not on withdrawals from IRA/Keogh/401K or 403b for elderly support purposes .
It's time for a Robin Hood Tax on Wall Street! A small tax on speculation, high speed and other trades that enrich banks and financiers at our expense can generate $300 billion per year, to fund green jobs and climate justice, quality education and affordable housing, retirement security and healthcare for all, and an end to HIV/Aids. 40 other countries have this tax. It's time for the banks to pay us back!