Hold a stock for more then one year (in oher words hold it a year and a day)-and pay 3% tax. Buy a stock and sell before owning it one full year and pay 33% tax. So a 100,000$ worth of stock sold before owning a year and pay 33,000$ in tax=profit 67,000$ (and minus what you paid for it). Or hold it more then a year and pay 3,000$ tax=profit 97,000. This is the 3% incentive the gov't gives to hold onto stocks long term, and also the 33% punishment they give to day traders. I think this info is still correct, or at least it was last tax season for me.
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