Is the House Closer to Taxing Stock Trades?

Could it be the U.S. House of Representatives is getting closer to proposing taxes on stock trades? Below is a screen shot from my Sitemeter account detailing a search earlier today. that came from the U.S. House of Representatives. The search phrase was "taxing stock trades." The search landed on one of my earlier articles, Congress Proposing Transaction Tax On Stock Trades, written in early March.

(click to enlarge)

Comments

[zorro6204:]

I don't see what they could do, short-term capital gains are already taxed as ordinary income. Any kind of surtax would be a horror show for market liquidity, as I'm sure the economists will point out. Tax law makes a lot of noise and light, but actually it's almost entirely written by professionals on the staff who have the ability to cool off the nuts. Your average congressman doesn't have a clue what AMT means, or what an S corporation is.

Jul 02 02:11 PM

[Neil459:]

Look at the amount that is being spent by the government. Of course they will tax stock trades. Once you tax 90% of the income, the only thing left is to tax transactions. Now it might not be for a couple of years, but by then everyone will have stock traders so it will be ok.

Jul 02 02:57 PM

[herbert hoover:]

Does that mean that GS will actually have to pay the government money for a change?

Jul 03 10:37 AM

[437339:]

Re

Goldman Sachs will be exempt of course !

Jul 03 11:29 PM