This thread started 5 yrs ago yet were no closer to a transaction tax here than we were 5-10 yrs ago and it had nothing to do with the few voices opposed to it on boards like this but in general there was never any interest in the usa to institute one so it never went anywere.There were the few loudmouths like DeFazio and co who have tried for 10-15 yrs and thought when the financial crisis hit there would an opening to exploit one. The tax was flawed from the start by imposing a tax wether you make money or you don't plus we already have many small taxes on trading plus a capital gains tax
DeFazio had 15 sponsors, and simple economic theory denies any net benefit to government or otherwise.
"The Italian Financial Transaction Tax has raised just â¬159m (£132m) since its introduction, well short of the â¬1bn targeted by the Italian government." http://www.fointelligence.com/Article/3287112/Italian-transaction-tax-raises-159m.html
Eleven EU states to consider narrower transaction tax http://www.reuters.com/article/2013/12/11/us-eu-transactiontax-idUSBRE9BA0CM20131211
common sense returning to Germany?? The German Federal Bank opposes FTT: http://deutsche-wirtschafts-nachrichten.de/2013/12/16/bundesbank-entzaubert-boersensteuer/