Re:Customers who liked this Recommendation Engine may also l...
by lmm on Friday July 13, 2018 @09:29AM
(#17522759)
> HFT firms employ people, gives them jobs, purpose, and most importantly, a pay check. This in turn generates tax revenue for any government and society.
That's putting the cart before the horse. People get a sense of purpose and a paycheck from a job because jobs are generally providing value to society - the money ultimately comes from people who get value from what they do paying it. If the money is coming from a government regulation rather than because people actually want to buy what they're selling, it's a make-work scheme, not a business.
The sub-penny rule is, essentially, a tax on investors that is then handed to the winners of a mostly-meaningless competition. You could equally take the same tax on investors and hand the money to whoever dug the longest ditch (or whatever) and that would "employ people, gives them jobs, purpose, and most importantly, a pay check", but that wouldn't be contributing anything valuable to society either.
That's putting the cart before the horse. People get a sense of purpose and a paycheck from a job because jobs are generally providing value to society - the money ultimately comes from people who get value from what they do paying it. If the money is coming from a government regulation rather than because people actually want to buy what they're selling, it's a make-work scheme, not a business.
The sub-penny rule is, essentially, a tax on investors that is then handed to the winners of a mostly-meaningless competition. You could equally take the same tax on investors and hand the money to whoever dug the longest ditch (or whatever) and that would "employ people, gives them jobs, purpose, and most importantly, a pay check", but that wouldn't be contributing anything valuable to society either.