As soon as profits are realized from short-term investments on wallstreet, they are hidden away in offshore accounts to never be taxed. If you introduce taxes on speculation, we can be sure that America gets it's share of taxes from the 1% that don't pay their fair share.
Why is this important?
The richest people in America joke about how they only paid 10-15% in taxes, when the rest of us go to jail if we don't pay our share. They get benefits and pay LESS taxes for sending jobs overseas, and then putting their income in offshore tax havens. This is one way we can make sure that these richest people pay their fair share of the taxes.
