Financial transaction tax by 2021, says Germany's Scholz

The model on the table is similar to the current FTT in France on stocks, i.e. no tax on derivatives and no tax on trades outside of the EU. So not a big problem for EU traders unless the EU bureaucrats scale up later and try to capture derivatives and trades outside EU, but that is legally very challenging.

This is about EU bureaucrats trying to establish direct revenue for themselves.

But of course an FTT is a stupid idea in every shape or form.
 
RedDuke said:
Let them do it, and trading business will shift to US. Bunch of idiots, Sweden did it, and we all know the outcome:

"During the first week of the tax, the volume of bond trading fell by 85%, even though the tax rate on five-year bonds was only 0.003%. ...."

https://en.wikipedia.org/wiki/Swedish_financial_transaction_tax
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The effect wasn't as dramatic with the french and italian transaction taxes introduced recently. This might encourage EU to tax financial markets further.
 
luisHK said:
The effect wasn't as dramatic with the french and italian transaction taxes introduced recently. This might encourage EU to tax financial markets further.
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There was some exemption for either French or Italian trades if they are done in a certain timeframe. I can't recall exactly. I might stumble on trading TOT sometimes but that's about it.
 
The government should only tax you once at most on the money that you have earned. They should not tax you again on the same money when you buy something (sales tax, vat, etc), or any other form of taxation.
 
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