Financial transactions tax ok'd in Europe
- Thread starter Optionpro007
- Start date
Dangerous stuff. Hard to see it becoming a reality, across the board. Mature economies are heavily reliant on financial speculation.
it's exempted as long as what happens in the rest of their business doesn't affect you
gosh dang, don't they teach these kids anything anymore?
thank g-d I was raised before they invented "The Department of Education"
back then, a father could educate his kid without paying all kinds of taxes
but now, if they tax somebody else, you pay for it in someway or the other
so tax me, as a trader, it's just finally going to come out of your pocket
^
The flipside to all this is a transaction tax drives out liquidity which distorts prices and increases the spread. I think Goldman or UBS did a study on the impact of a transaction tax on pension fund returns. The annual performance loss was estimated at ~ -3%. Doesn't sound like much, but it adds up. Especially when conservative funds do 5-6%, in a good year.
The flipside to all this is a transaction tax drives out liquidity which distorts prices and increases the spread. I think Goldman or UBS did a study on the impact of a transaction tax on pension fund returns. The annual performance loss was estimated at ~ -3%. Doesn't sound like much, but it adds up. Especially when conservative funds do 5-6%, in a good year.
they already coverd this on the other thread, we are just bitching about the general pricinple of it all, especially how there will be no escape, no matter what country you reside in
over there, they are still trying to fight it
over here, we are trying to figure out how to deal with it
I'm not following either thread. Although, I ought to be.
I'm definitely in the fight it camp. This is how I earn my living.
I'm definitely in the fight it camp. This is how I earn my living.
Amazing, though, how people neglect the lessons of history. In this case, I refer to Labor and that actor, what's-his-name, eagerly working on Germany's behalf just as a different set of fellow-travelers were eager to work on Germany's behalf 70 years ago.
Make no mistake, Germany's goal, in many respects, is the same as it always has been--domination of Europe by whatever means. This time, Germany takes aim at the one area of financial activity in which it does not dominate, financial services.
Once again, England finds itself, more-or-less, alone.