alt Hacker NewsThat's a terrifying idea that would destroy the tech stock market as we know it. We already have incentives in capital gain taxes to encourage longer term ownership.
Feel free to send a 5% donation to the government in your taxes every time you trade your tech stocks.
This is an order of magnitude less than Bernie's 50% per-tech-trade tax (obviously impossible & bad), which he suggested as a means to fund the inevitable UBI [turns out former presidentical candiate Michael Yang wasn't wrong, just early, with his 2020 prediction].
Having never sold any stock on a short-term basis (i.e. I am a long-term value investor), I also disagree on the abysmally low tax rates I pay for long-term selling. To paraphrase the great Warren Buffet: the ultrarich should be taxed more and its unfair that the taxcodes don't require it.
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Having spent the majority of my working life as a bluecollar electrician, I can assure that my wagie tax burden (as percentage of income) is much higher than most fellow employed-by-tech readers, here.