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View Diary: Transaction tax would raise $350 billion over next decade (136 comments)

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  •  Fixed now, thx. (2+ / 0-)
    Recommended by:
    RumsfeldResign, WiddieDawg

    It's billion.

    •  Hunter the Dems are making a big mistake (1+ / 0-)
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      The name alone makes it DOA. Just call it a transaction tax, why try and poke people with sharp sticks? The fee .3% is way too high and would drive trading out of the US. The EU has put a proposal on the table that makes a great deal of sense. It is a transaction fee of .1% and it would be implemented simultaneously in the UE, UK and US. This is not a tax where the US wants to be out in front. A tax implemented by all the major financial markets at the same time would not shift trading patterns, the only legitimate reason to oppose a modest transaction tax. As currently proposed I don't think this would attract a majority of Dems. It could devastate NYC and NY State if trading moved to Europe and the UK. The CBOs estimate is worthless. The way the CBO does its analysis is static. It just assumes that no matter what fee it would not change any behavior. They are required to use those assumptions in their analysis, but in a situation like this it makes their estimate worthless.


      "let's talk about that"

      by VClib on Mon Nov 07, 2011 at 07:11:16 PM PST

      [ Parent ]

    •  Zeros are not nothing. (0+ / 0-)

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