If the Dems win the White House, Senate and the House they won't need 60 votes to pass a FTT. The Republicans passed substantial tax changes in 2018 with only 53 votes. https://www.vox.com/policy-and-politics/2017/11/14/16634200/republican-tax-reform-byrd-rule
That is very true, a full 60 votes would not be needed. And both Biden and Harris have strongly advocated for a stiff FTT. https://www.marketwatch.com/story/k...scores-and-a-tax-on-trading-stocks-2020-08-12 https://www.cnbc.com/video/2019/12/06/biden-we-should-have-a-financial-transaction-tax.html A FTT seems highly likely...too likely to be ignored.
What did he do as a guy from the left to cut unemployment in half? Lowered corporate taxes? How is the "left" different from the "right" as far as economy is concerned in your view? If Obama was a typical "left" guy during a crisis.
Less self-employed people and less govt revenues and less efficient markets. Will the market makers be taxed as well? Will it be on top of capital gains tax?
Xir, I think you are a little short sighted. It will be like a domino effect, a chain reaction. You have to think steps further. Any tax which is imposed upon you before you even make money is a bad tax. Maybe there are a few exceptions, but generally, they are bad. One should be taxed only after he has made some money.
if its revenue neutral, it can be 50 + 1 but can be done only once per year. if its extra tax, it requires 60. This definitely requires 60
A FTT will be widely popular. Even moderate Michael Bloomberg supported a FTT. With increasing focus on inequality, a FTT is an obvious place to start. It will happen, only a matter of time.
will be popular among the left wingers. They have always been turkeys voting for Christmas. They will cheer those “evil speculators” getting a beating. Yet when the golden goose of tax revenue that is Wall Street moves offshore and costs on commodities and savings go up they will feel the pain. Not that they will ever learn.
It's too easy a target to pass up for Democrats, their parasitic tax-grubbing ftt is a very real threat. Impact on futures and forex too, or stocks/etfs only?