Representative Peter DeFazzio from Oregon introduced HR 1068. This bill basically states that all securities traded will be taxed at a rate of .25%, on a typical trading day for me, that's 90% of my profit, but that's just me.
Here is a link to the text of the bill:
http://www.opencongress.org/bill/111-h1068/text
Here is a rebuttal by the STA:
http://www.finalternatives.com/node/7043
Here is how you contact DeFazio
http://www.defazio.house.gov/index.php?option=com_content&task=view&id=127&Itemid=74
Peter DeFazio earned his masters degree in gerontology, not Economics. It's time to take these decisions regarding markets and capitalism out of the hands of those who are incappable and ungrateful.
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