Day-traders are greedy bloodsucking scum
Government has an obligation to establish the best conditions for a
successful and productive business environment. There are some
improvements that the United States Government can take to improve the
current business situation.
I am a long-term investor. The day-traders are my enemy. I see
day-traders as culprits that cause markets to swing up and down
needlessly. The day-traders suck gains out of the market before the
long-term guys ever see the profits to their investments. For sure.
The day-traders do what is termed "taking profits". If a stock goes
up, they sell, and thus cause a drop in the stock price. The
long-term guy suffers with this drop. Happens daily, hourly. Day
traders harm the market, the economy and the country. I repeat, day
traders harm the United States with their greed. There is no benefit
to the larger "macro" economy. The long-term investor is the economy
builder, and is vital to the companies that he or she owns. The
day-trader, with his quick buy and sell, is of no benefit to any
company in which he or she deals. And this destructive effect is
amplified by computer automation.
In my humble opinion, the current recession was not caused by the
"mortgage crisis" which is relatively minor in relation to the whole
economy. I blame it on day-traders who exaggerated the mortgage event
into a real recession.
Government can alleviate some of this day-trader churn by imposing a
sales tax on these quick stock sales. Put a five percent tax on stock
sales. Then, remove this tax over five years, pro rated. Real
investors will have no tax, because they buy and hold.