Once upon a time federal receipts were composed primarily of tariffs and duties.
Today agricultural and manufactured goods are still taxed at border crossings.
Yet, I am not aware of taxes on financial transactions. I may be wrong.
So since financial markets are truly Global and receive favorable treatment to all other transactions. Employ the wealthy and lead to income inequality. Why do financial transactions act as a special class of trade?
What would be the impact on financial institutions if there was a sales tax for every trade? What if they were treated like all other goods?
IF it would negatively impact the institutions does it not have a similar effect on farmers and manufacturers?
Should elected officials be able to invest in instruments their policies may impact in terms of value?
That appears to be a conflict of interest on the surface.