High frequency traders front run the dumb money, err, pensions.   Getting rid of HFT via a transaction tax will not hurt them.   Also, pensions  shouldn&#x27;t be trading so much that these things will hurt them.   As for mutual funds, again, you&#x27;re better off with an index fund and just not looking at it until you retire.<p>How anyone outside the industry can argue against a transaction tax is beyond me.   You have no idea how much the market has been rigged to suck as much money as possible out of you.   Wall Street does not generate wealth.   Everything they make is a tax on those that do.