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1/28/2016 10:37:15 AM
2
Croat I know it seems like I am picking on you but really you are one of the few attempting to rationalize their opinion which I respect. This allows for us to have a discussion, which has a possibility to reach a point of mutual understanding. Not just for us but others reading our discussion.
Now on to your point, I agree investment is good and should be encouraged but only 14% of global investment is innovative investment (meaning we are trying to develop a business or product). The rest is purely financial which is loans and bonds and such which have nothing really to do with overall economic growth and more to do with personal wealth. So taxing capital gains at a higher rate (at least reflexive of income which you actually have to WORK to make) would not be the end of the world. Lastly a fee on trading would put an end to automated high speed trading which has recently made the stock market into a mad house.
I think there is a balance to be struck.
English
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My concern is that sweeping regulation will have an adverse effect on the average person. I'm not a millionaire or anywhere close to the top 1%, I have a good job and have some surplus income. Many other people in the middle class are in a similar situation. Speculation in the market is a way for people in the middle class to grow their wealth, assuming they have some financial/market knowledge. Public companies also benefit from this by intaking capital and using it to further grow their business (more jobs and investment on the company's end). I agree that speculative investment is not as big of a factor in economic growth when compared to innovative investment, but it certainly has an important part to play. Where I really become concerned is how the market forces in play end up directing the consumer. Innovative investment is more difficult now than it was in the past due to immense regulation, it is harder to start a business now than it was in let's say the 80's. Because of these regulations more capital is required to start a business in order to overcome regulatory hurdles, I believe that this in a way directs a person in the direction of speculative investment instead of innovative investment, because the cost and risk placed on the individual is less if they choose the speculative investment route over the innovative investment route. If we further regulate speculative investment (as we have done innovative investment) where will people turn in order to grow their money?
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Individual speculation will truly, barely be affected. The biggest impact, clearly, will be a market that is less subject to million-billion+ dollar speculations that are only designed to shift the market fictionally - that screws you, the small- to medium personal investor, infinitely more than a small fee. Seriously, I appreciate where you're coming from, and you need to know that I believe strongly that the only good mind is an open one. Keep researching it and learning more - and I promise I will do the same.
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It's all about better balance - agreed.
