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Albert Page

What about this idea for the economy?

I don't know the answer and won't pretend too. I want answers because the thought popped into my mind and I am curious. What would happen if the government said something like "if anyone invests their money into stocks, mutual funds, etc between October 3rd and the 11th.....you will never have to pay taxes on that investment when you decide to sell it." My first thought is people might sell before the 3rd and buy again. But, they would pay taxes on their sell before the 3rd so it isn't too smart to do this. The idea being that a lot of people are hording money right now because of the economy. It might also get people who haven't invested before to do so now. This would get money back into the market. What kind of impact do you think this would have overall if any?Also -note that people won't be selling their stocks or mutual funds at the same time. Maybe this month for one guy - maybe 30 years from now for another. So the taxes not being paid wouldn't affect us really.
Goggie:

For 60 years I've heard the government say americans don't save enough. Here's the solution-money made from interest,dividens,and capital gains should be taxed on a sliding scale Exp.--0-$5000 tax free, $5000 to 10,000 5% tax, 10,000-20,000 10% tax. ----ect. I think this would help poor people save and would invite investments from the middle class.

Albert Page:

I agree. THat is a good idea. However, I think a major influence in people not investing is the fees related to buying and selling stock. For instance - if you had an account at E-Trade right now and say you were a framer. And you had $100 to invest a month in stock. It would cost you over 10% just to buy stock in that amount. If you were to sell and buy stock somewhere else - that would be an additional 20% it would cost you. I think the fees are a little high for small purchases.

Goggie:

ChadMcComas--- you must be young. I remember when it was about $50 a trade for stocks, and if you did an odd lot, not 100 shares, it was even more.

Albert Page:

Well - the point is - I mean you can do this stuff online. How much freaking effort does it take to buy a stock? I don't really know how much effort goes into it. I think of bank fees at ATM's. I mean how much effort does a bank put into anything associated with an ATM? Does it justify upwards to $5 dollars everytime you withdraw 20 bucks? You know?
And maybe 10 bucks isn't bad. But prices are higher elsewhere with really high minimum amounts of money that can be used. I think the brokers and their firms are part of the problem on why people won't invest.

BLUE CAFE:

Time to discourage people from entering the Financial market unless it is Government backed or Guaranteed that losses will be personally incurred & held responsible by CEO's & those in the Fed. Reserve
Capitalism needs to be punished, not rewarded for irresponsible behavior.

Albert Page:

I'll agree with that.

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