Thoughts on a financial transaction tax?

[AGA]

A few candidates support a financial transaction tax to fund some of their proposals, such as Sanders, Warren, and surprisingly, Bloomberg. Sanders, for example, proposes a 0.5% tax on stock trades, 0.1% on bond trades, and 0.005% on derivatives. Warren proposes a 0.1% tax on all three, while Bloomberg proposes a 0.2% tax on stock trades phased in over time. Biden has floated the idea as well.

Do you support this? In my opinion, this would have too much of a negative effect on trading volume and would kill short-term trading. I think that just raising the capital gains tax would be a better option.

[AGA]

Not good. It means the wealthy will do their trading elsewhere and trading for the rest of us will be penalized. Setting capital gains taxes equal to income (at time of sale, not mark to market) is a better way to raise revenue and doesn't favor any sort of financial activity over another.

This is pretty much what happened when Sweden tried it.