Comments on: Will the U.S. Be Seeing a Financial Transaction Tax Anytime Soon? http://blog.principal.com/2013/02/08/will-the-u-s-be-seeing-a-financial-transaction-tax-anytime-soon/ Investment management insights and commentary Tue, 21 May 2013 19:55:14 +0000 hourly 1 http://wordpress.org/?v=3.5.1 By: Fred Akers http://blog.principal.com/2013/02/08/will-the-u-s-be-seeing-a-financial-transaction-tax-anytime-soon/comment-page-1/#comment-65 Fred Akers Tue, 12 Feb 2013 23:44:36 +0000 http://blog.principal.com/?p=1670#comment-65 Taxing stock transactions is stupid.

Do we tax buying cd’s at a bank? That’s an investment too.

Pension funds ARE invested in the stock market. Even if they’re just in index funds, those funds need to buy & sell stock continuously as stocks are added & deleted from the different indexes.

The Government pulling money out of your pension fund EVERY TIME they need to make transactions decreases the value of the fund. Those transactions over 20-30-40 years will create in a substantial decrease in the amount of money in YOUR pension fund.

If you don’t care about your pension money or just want to give your retirement money away, then this tax is for you. For the rest of us union folk, WE DON’T WANT IT!!! Why does taxing middle income folks via their retirement funds do anything other than robbing us of our retiremement?

If you want your retirement cut, go for this tax.

And, if you want to cut down high frequency trading, you can do it via legislation, you don’t need to steal money from the middle classes accounts to do it.

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