“Stimulus checks” are the government borrowing from your future taxes to give you money now. It is not really free money:
For more than a decade, progressives have tried and failed to impose a financial transaction tax. But there is new momentum for such a levy as the national debt skyrockets during the pandemic and in the wake of the GameStop trading frenzy that shined a bright light on market structure concerns.
The White House told CNN Business on Sunday that a financial transaction tax on GameStop-like trading deserves additional study and can be part of a greater evaluation of such a tax for revenue and market stability. The leading proposal amounts to a $1 tax on every $1,000 of transactions.
Source: GameStop fiasco helps build momentum for a stock-trading tax — and Wall Street is furious – CNN
Traders already pay taxes on capital gains – they are hardly tax free today.
There will be more such tax proposals and they will get to all of us eventually.
