The answer isn't "tax the rich", it's tax the behavior that is damaging the economy. Essentially, you would need to alter the capital gains tax to a more drastic sliding scale, where any short-term investment was taxed at an obscenely high rate, and then gradually reduces the longer you hold the asset.
So, for example, for algorithmic traders that only hold positions for milliseconds, charge them a 90% tax rate. For folks who hold it a day or two, 75%. For people who hold up to six months, 50%, and if you hold it over a year or two, bring it down to the 25% that most middle-class people pay. These are just figures I threw out with no real thought to it, but the idea has merit.
You need to create real financial incentives for people to actually invest long-term, while penalizing the short-term speculation that is the vast majority of the market traffic today.
Actually, last I checked, you're innocent until proven guilty (an antiquated notion, I know). It's not up to the site to prove they didn't make the posts, it's up to the censors to prove they did.
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Re: one way to deal with such short-sightedness...
The answer isn't "tax the rich", it's tax the behavior that is damaging the economy. Essentially, you would need to alter the capital gains tax to a more drastic sliding scale, where any short-term investment was taxed at an obscenely high rate, and then gradually reduces the longer you hold the asset.
So, for example, for algorithmic traders that only hold positions for milliseconds, charge them a 90% tax rate. For folks who hold it a day or two, 75%. For people who hold up to six months, 50%, and if you hold it over a year or two, bring it down to the 25% that most middle-class people pay. These are just figures I threw out with no real thought to it, but the idea has merit.
You need to create real financial incentives for people to actually invest long-term, while penalizing the short-term speculation that is the vast majority of the market traffic today.
Re:
Actually, last I checked, you're innocent until proven guilty (an antiquated notion, I know). It's not up to the site to prove they didn't make the posts, it's up to the censors to prove they did.