Since the stock market was directly responsible for the current financial crisis. Why don't we impose a 5% sales tax on every stock trade. I think that would raise 700 billion pretty quickly. If we just pay it then every tax payer whether earning money with labor or making money by gambling in the stock market has to pay. I personally think that the people involved in the stock market should be taxed for this "mistake".

The current housing slow down is no worse than the last 2. The difference is that banks have loaned money that they didn't have. The used these unregulated "credit default swap" 's to theoretically guarantee that they would have money if somebody defaulted. If it was a regular insurance company they would have been forced to have the money in reserve. Instead these funds were unregulated and dishonest people traded these hedge funds knowing they wouldn't have the money if things failed.

So basically yes americans have once again overextended themselves and defaulted on some mortgages. This is not new. We do this in well predicted cycles. So we (the working little people) share the blame for starting this down turn. But the big wigs(people who earn money by gambling on the stock market) have made this the 700 billion "crisis" it is.

If we could make everybody who made a profit on these hedge funds(and some made 40% return per year) should be the ones who have to give back the profits to bail out the banks. But everybody shakes there head at that point and says that will never happen. So we have sales taxes for material goods. Why not a sales tax for gambling in the stock market. The stock trader who buys a company's stock for the long term because he thinks the company makes a good product will only pay this tax once when he sells it. The day traders will be pissed off and I think thats probably good for the market. Add a little stability to something that is already to volatile.

Well what do you think?
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