Great, so we can't tax rich people because they will dodge taxes?
No! You can't tax rich people TOO MUCH because if you do, then capital flight will occur.
Big corporations put their computers physically close to the stock exchange to have that nanosecond advantage for their automatic buying / selling machines. But that is obviously OK.
And we pay dearly for this proximity
"The right to directly trade shares on the exchange is conferred upon owners of the 1366 "seats". The term comes from the fact that up until the 1870s NYSE members sat in chairs to trade. In 1868, the number of seats was fixed at 533, and this number was increased several times over the years. In 1953, the exchange stopped at 1366 seats. These seats are a sought-after commodity as they confer the ability to directly trade stock on the NYSE. Seat prices have varied widely over the years, generally falling during recessions and rising during economic expansions. The most expensive inflation-adjusted seat was sold in 1929 for $625,000, which, today, would be over six million dollars. In recent times, seats have sold for as high as $4 million in the late 1990s and $1 million in 2001. In 2005, seat prices shot up to $3.25 million as the exchange was set to merge with Archipelago and become a for-profit, publicly traded company. Seat owners received $500,000 cash per seat and 77,000 shares of the newly formed corporation. The NYSE now sells one-year licenses to trade directly on the exchange."
And because this is Slashdot, I feel the need to point out that the above post is sarcasm...
Sarcasm noted. However, seeing that you have been modded up to 5 fills me with fear for the future. The fact that so many people agree with your inclusion of media/press with the other professions you mentioned as one to be regulated is, in fact, breathtaking.
After Fox News won their argument in Florida establishing there was no need for them to report only the truth or facts, I see lots of room for regulation.
What case are you referring to here? And are you advocating government regulation of private media BEYOND existing libel laws? If so, what does that regulation specifically address?
You have a tendency to feel you are superior to most computers.