that's exactly my point - conditions must be created for possibility of stock market obliteration without destroying the economy real economy shoudn't be so dependent on asset prices small tax on short term transaction would be a good first step in that direction
I think taxing something addictive is brilliant -- not necessarily right, but brilliant nevertheless. We can put almost any tax on cigarettes and the addicts will pay it. Ditto for gambling, oops I mean "trading."
It just takes one country to start this. I wouldn't be so sure this doesn't get some traction.....over here. Liberals are salivating over this....a new source of "revenue" and they get to stick it to Wall Street at the same time.
I regret that you are probably right, this time only however! If you need money --France needs money, the U.S. needs money-- You should go to where the money is and get some. The money is in Banks, and Banks trade. Go to Banks and take some of their money.
The difference is...taxing cigarettes...gambling will not have an effect on the majority of people. A short term transaction tax will effect everyone. You drive traders out of the stock market and watch liquidity plummet. The stock market will drop by an enormous amount. Will effect all. Good luck to these huge mutual funds trying to sell their shares of IBM when the bid offer is 170 by 175.
It has zero chance of happening here Surf. While it is an easy way out, is not going to happen. Hell.....the Dems can't even agree on it. Even if they did, the Rebublicans would never let it happen. This tax has about much chance passing as you and I agreeing on trading methodolgy. Good article: http://www.thetradenews.com/regions/europe/5901