Why a Financial Transaction Tax Could Be Devastating for Main Street Investors

The video discusses Bernie Sanders' tax proposal, which includes different tax rates on equities, bonds, and derivatives. The proposal is expected to impact Main Street investors by increasing trading costs and affecting retirement savings. The discussion also covers the legislative prospects of the proposal, historical context of financial transaction taxes, and the mark-to-market tax proposal. The video concludes with a discussion on the need for revenue and the political divisions among Democrats regarding these tax proposals.

What is one of the main concerns about Bernie Sanders' financial transaction tax proposal?

• It would decrease the number of available investment options.

• It would primarily affect large corporations.

• It would increase the cost of trading for Main Street investors.

• It would only apply to international transactions.

How much could a $100,000 401K account potentially cost over 40 years due to the financial transaction tax?

• $200,000

• $10,000

• $64,000

• $130,000

What is a potential market reaction to the financial transaction tax on 401K accounts?

• More investment options

• Increased trading frequency

• Reduced trading frequency

• Higher investment returns

What historical fact is mentioned about the financial transaction tax in the U.S.?

• It was never implemented in the U.S.

• It was repealed as bad tax policy in 1965.

• It was introduced in 1980.

• It is currently in effect.

Which senator is associated with the mark-to-market tax proposal?

• Senator Sanders

• Senator Warren

• Senator Schatz

• Senator Wyden

What is the primary goal of the mark-to-market tax proposal?

• To increase corporate taxes

• To reduce the national debt

• To tax unrealized capital gains

• To eliminate income tax

What political division is highlighted in the discussion of taxation proposals?

• Between the Senate and the House

• Between Republicans and Democrats

• Within the Democratic Party

• Within the Republican Party