Good commentary about FTT on Bloomberg View: http://www.bloombergview.com/articles/2015-10-05/europe-s-robin-hood-tax-is-a-risky-proposal
Bloomberg. Sure. These news reports pretend to shoot down the idea. What they are really doing is putting it out there in the public domain to desensitize people to it, only to ram it through later.
There is going to be big news on this issue Thursday. Get prepared to write our viewpoints in A TON of comment sections in pro transaction tax articles that are about to hit.
Few details on Clinton HFT. It only mentions taxing excessive order cancellations. She is not going to hurt her handlers though. I hope this is only for creating headlines to show that she is going after Wall Street.
Hillary Clinton to Propose High-Frequency Tax, Volcker Rule Changes: http://www.bloomberg.com/politics/a...gh-frequency-trading-tax-volcker-rule-changes
Sounds like Hillary Clinton is supporting a cancellation tax on high frequency trading and not a full blown ftt: http://www.marketwatch.com/story/hi...t-plans-for-reining-in-wall-street-2015-10-08 "Clinton’s plan to tax high-frequency trades is intended to curtail certain trading activity, not to raise tax revenue, the campaign said. To curb such trades, Clinton is backing a new tax on order cancellations that is meant to target these practices."
The European FTT has been kicked into the long grass for yet another year... http://www.securitieslendingtimes.c...istfeature.php?specialist_id=103#.Vo5zb7aLTmg
From todays NYT... The Need for a Tax on Financial Trading A financial transaction tax — a per-trade charge on the buying and selling of stocks, bonds and derivatives — is an idea whose time has finally come. It has begun percolating in the Democratic presidential campaign, with all three candidates offering proposals. http://www.nytimes.com/2016/01/28/o...-region®ion=bottom-well&WT.nav=bottom-well The question is no longer "if". It's when and how.
It's only possible if the US elects socialists. The Republicans will never be on board. The establishment Dems like Clinton, etc will not support it. Sanders and a Dem majority in both Houses of Congress would however likely pass a FTT.