Hate to say it - but one way to stop 'Laddering attacks' by Hedge Funds that agree to sell the same stock to each other at lower and lower prices.... is to set up 'Sales Tax' On a share of stock...
Say 0.1% sales tax for a Purchase of a share of stock.
Put that in the program and all of the sudden selling and buying the same share of stock - 20 times in one day.. begins to NOT LOOK SO PROFITABLE.
Bernie wanted it just for MORE TAXES... But I think since every Normie pays sales tax to buy diapers... you might was well let Hedge Fund Managers pay some sales tax when buying stocks too.
3 million shares at ~$10/share sold 5 times in one day - by TWO HF companies... would be about $300,000 in taxes...
Hate to say it - but one way to stop 'Laddering attacks' by Hedge Funds that agree to sell the same stock to each other at lower and lower prices.... is to set up 'Sales Tax' On a share of stock...
Say 0.1% sales tax for a Purchase of a share of stock.
Put that in the program and all of the sudden selling and buying the same share of stock - 20 times in one day.. begins to NOT LOOK SO PROFITABLE.
Bernie had this exact idea in 2015 when he ran, for this exact purpose. I know because i used to be a bernie bro. Not all of his ideas were terrible
It is not that great of an idea...
It has been bandied about for a while...
Bernie wanted it just for MORE TAXES... But I think since every Normie pays sales tax to buy diapers... you might was well let Hedge Fund Managers pay some sales tax when buying stocks too.
3 million shares at ~$10/share sold 5 times in one day - by TWO HF companies... would be about $300,000 in taxes...