"A modest financial speculation tax can go a long way to putting an end to such (HFT) practices and bringing the markets back to earth. It can also raise large amounts of money. A bill proposed by Senator Tom Harkin and Representative Peter DeFazio would impose a tax of just 0.03 percent on trades. According to the Joint Tax Committee of Congress, it would raise more than $350 billion in its first nine years. A set of taxes more in line with the 0.5 percent tax that the United Kingdom imposes on stock trades could raise more than $1.5 trillion over the next decade."
Excerpt from: Tiny Tax Would Make a Big Difference http://www.nytimes.com/roomfordebate/2012/08/06/how-to-regulate-high-frequency-trading/high-frequency-trading-edges-out-normal-investors
************************************************************** Also I second The Gooch's suggestion to all traders:
06/09/12 09:49 (View)
thegooch Post #: 8505764 Price at time of posting: $25.02 In Reply to msg: #8505469 IP: 121.222.xxx.xxx Sentiment: LT Buy Disclosure: Stock Held Views: 27
If you have time , you should do this survey about HFT on the ASX.
