1/4% Tax on all stock trades pushed in NY Times today

PieterSteidelmayer said:
It is quite amazing that all countries which have implemented the various forms of Tobin tax, have repealed it after it resulted in a reduction in overall tax revenues. Seems fools are born anew each day with no memory nor capacity to appreciate the benfits of efficient historical research.
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"A smart man learns from his mistakes. A wise man learns from the mistakes of others."
 
PieterSteidelmayer said:
It is quite amazing that all countries which have implemented the various forms of Tobin tax, have repealed it after it resulted in a reduction in overall tax revenues. Seems fools are born anew each day with no memory nor capacity to appreciate the benfits of efficient historical research.
More...

Actually (and unfortunately) stamp tax in Uk and HK have been going on for years , what is the différence between those and a tobin tax limited to some markets ? France transaction tax seems satisfactory as well in terms of tax collection and trading volume
 
Countries planning to introduce the FTT are likely to suffer significant losses in household savings portfolios as a result of taxing a broad range of financial instruments. In larger states with sizeable capital markets, this loss could amount to as much as €205bn, or 16% of the total value of equity and debt holdings. Households in the UK and Luxembourg also stand to lose an estimated €4.4bn and €0.4bn respectively, as a result of the FTTs extraterritorial reach.
Published: 14 February 2014

http://www.cityoflondon.gov.uk/busi...tion-tax-on-European-households'-savings.aspx
 
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