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Financial Transaction Tax

  #1 (permalink)
 
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 Zondor 
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This would be the nail in the coffin for futures day trading.

Read The Bill: S. 1787 - GovTrack.us

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  #2 (permalink)
 steve2222 
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See my post here:

https://nexusfi.com/news-current-events/16083-cbo-tobin-tax-dont-do.html#post176506

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  #3 (permalink)
 cw30000 
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I thought this is dead in the water?

I guess politicians need Wall Street double up their "contributions".

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  #4 (permalink)
 steve2222 
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cw30000 View Post
I thought this is dead in the water?

I guess politicians need Wall Street double up their "contributions".

I suspect because the EuroZone have agreed to do it (and this is why the UK didn't want any part of the new EU treaty) the advocates for it in the US have got a new lease of life.

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 GridKing 
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Financial-Transaction Tax for Europe Urged by Schaeuble, Monti in Letter - Bloomberg

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  #6 (permalink)
fred1
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this is a socialist-marxist approach. it starts with a small amount and goes higher and higher every year until it reaches a large fraction of each trade taking out the principal. that is the goal.
socialists in europe are desperate. in fear. they see how everything goes down and there is no financing any more. southern europe is bankrupt and central/northern europe is not able to finance even part of the debt of southern europe. this is only the beginning. but it is a huge opportunity for shortselling

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  #7 (permalink)
 Cloudy 
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https://www.washingtonpost.com/opinions/katrina-vanden-heuvel-its-time-to-tax-financial-transactions/2013/03/04/d496d738-8516-11e2-98a3-b3db6b9ac586_story.html?tid=a_inl

https://www.washingtonpost.com/opinions/would-mr-sanderss-financial-transaction-tax-work-it-depends-on-a-lot-of-ifs/2016/02/25/80e2f8ce-db30-11e5-925f-1d10062cc82d_story.html

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  #8 (permalink)
 
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Markets would simply up and leave if this was levied.

I would wager London would be the beneficiary.

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  #9 (permalink)
 Cloudy 
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Having Killed Their Equity Market, China Unleashes "Tobin Tax" For FX Market | Zero Hedge

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  #10 (permalink)
 Cloudy 
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The candidates on a possible FTT or capital gains tax change:

Trump has less respect for Wall St than Obama - Sep. 2, 2015
Wall Street likes Kasich as president: CNBC [AUTOLINK]Fed[/AUTOLINK] Survey
Republican Marco Rubio winning Wall Street fundraising race | Reuters

Hillary Clinton to propose tax on high-frequency trading in Wall St reform
What would Bernie Sanders' Wall St. tax look like? - MarketWatch

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