[entropy12]

Vanguard said that a financial transaction tax would hit millions of investors saving for retirement. The analysis found that a financial transaction tax would force individual investors to work 2 1/2 years longer to reach their retirement goal.

Only true if transaction tax was in addition to capital gains tax.

On the other hand a transaction tax REPLACING capital gains tax would immediately eliminate tax cheating, eliminate record keeping for decades by stock holders and their brokers. And it will bring in tax revenue much sooner than capital gains tax.

In my own situation I am sitting on huge long term capital gains from stocks, and I can not sell those even if I need the cash for buying a fancier house or car because of the huge tax bill due all immediately. I would much rather have paid a transaction tax when buying and pay a small percentage when selling.

[cherry]

I still work part time at age 66.....not working anymore for them.......

[pepsi_junkie]

Do you really think the openly socialist candidates want to replace a huge tax with a smaller one? You’ll get both taxes if they get their way.

[luv2ski]

That doesn’t make sense. The long term capital gains tax is currently 20%. That means you still get to keep 80% of the proceeds of the sale. Am I missing something?