Friday, September 10, 2010

Pay Off the Nat'l Debt by TAXING STOCK TRADES!

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I'm not the first to figure this out, but it is so obvious. .025% of each trade, paid by the buyer, goes to the USA Treasury.

So here are some numbers to play with:

"About 2,000 million exchanges are made every day on the New York Stock Exchange. In March 2010, the average daily volume was 2,128,546,521 shares traded daily. The number of shares traded changes every day and is generally between 1.5 billion and 2.3 billion."

If each share is worth on average $20, and we take 2 billion shares per day on average, that would be 40 billion dollars per day. $40,000,000,000, at 25 cents per $100 would be: $100,000,000 /day into the US Treasury. That might help a bit. And that's just the NYSE.


Don Pelton said...

Great idea! Here Thom Hartmann talks about the past history of the STET (Securities Turnover Excise Tax):

"How Wall Street Can Bail Itself Out Without Destroying The Dollar"

gzaller said...

I believe .025% is 2.5 cents per $100 making the tax gain 10 million