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I'm not sure. I'd bet the article was written for the SPX buy and hold investor. My guess is that it would be implemented like a commission, especially if they're trying to tax HFT. For us traders, I'm worried that I'll suddenly be paying like $15 in commissions if they treat derivative trading differently.
Just think that extra 10 some dollars per contract will be paying for someone's free ride through school. Every trade you make you can dwell on that thought, meditate if you will.
R.I.P. Joseph Bach (Itchymoku), 1987-2018.
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I think the most likely outcome of legislation in the USA, if any, would be something along these lines. Socialists will probably push it further in Europe, except the UK.
