If 1% or less would stop you from making an investment, perhaps that would save you a lot of losses. ;-)
Wouldn't you pay a little bit to get rid of IRS?
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In this instance, no. As an example, let's say I have $100,000 in my IRA, invested in a stock. Under this proposal, I would pay $10.99 to Ameritrade to trade the stock, and $1000 to Uncle Sam.
Let's get real. I wouldn't want to pay even $100, or $10, or $1 to Uncle Sam to trade. It then amounts to a wealth tax, not a sales tax.
Unconscionable. Unthinkable. I would move to Canada or Mexico or France first. And so would a LOT of other investors.
Don't take it personally, but that idea REALLY needs to be re-examined.