The Trump Presidency Message Board

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Politics : The Trump Presidency

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To: zzpat who wrote (32779)	9/4/2017 3:56:34 PM
From: TimF	Read Replies (1) of 362387

My comment regarding taxes was on investment taxes (capital gains) not payroll taxes. My quote and link wasn't about payroll taxes, it was about financial transaction taxes. Hence the title - "Why a Financial Transactions Tax Is Bad for Everyone". Yes it mentioned payroll taxes but that wasn't the subject of the post. where computers can buy and sell stocks instantaneous and not producing anything of value. They produce liquidity. The stock market had previously been used to give companies our money to use, to invest, to create more wealth etc Both before and after the introduction of computerized high frequency trading a lot of market activity was not new investment. But trading in existing positions. Of course the trading for profit creates prices and liquidity for public offerings and other ways to raise new money with securities. That fact hasn't changed. but machines don't create wealth. Sure they do. The way you phrased that makes a general statement, and its obvious that machines create wealth/help create wealth in general. Of course with the context you where probably talking about the machines that do high frequency trading in securities. They create wealth for the people who use them. I guess your referring to creating overall value. The overall value created is liquidity. The purpose of taxes is to generate money for the government. There hasn't been a tax cut plan yet that has done that. False. Cuts from very high rates on income taxes, or even moderately high rates on investment taxes have clearly created money. In any case while the purpose of taxes is to raise money for government, the purpose of tax cuts is not. Nor should the general goal of policy be to get as much money as possible for the government. Instead, the debt nearly tripled under Reagan and doubled under Bush Because they didn't' control runaway spending increases. And the debt increased by an even larger amount under Obama despite a tax increase.

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