Friday, September 18, 2009

A Short History of Fast Times on Wall Street

---------- Forwarded message ----------
From: barry levine 
Date: Fri, Sep 18, 2009 at 7:04 PM
Subject: re: A Short History of Fast Times on Wall Street

To the Editor:
    It is the mandate of each stock exchange to provide a level playing field on which investors trade. Someone will always be maneuvering for advantage, and the regulators will always be lagging. There is a general fix that will end the arms race on speed trading. It is a more steeply graduated capital gains tax. It is proper that capital gains tax on long term investments should be low; these are the investments on which publicly traded companies run. That might be left at 15% for assets held over two years. Assets held less than an hour are more game than investment. Tax them at 100%. Ramp the rate in between.
Barry Levine

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