Skip to main content

View Diary: One GIF Shows Why We Should Have a Financial Transaction Tax (15 comments)

Comment Preferences

  •  more: (5+ / 0-)
    The volume of futures trading fell by 98% and the options trading market disappeared. On 15 April 1990, the tax on fixed-income securities was abolished. In January 1991 the rates on the remaining taxes were cut in half and by the end of the year they were abolished completely.
    •  Yes (0+ / 0-)

      Companies gradually avoided trading on the Swedish bourse and the government had to give up on the initiative.
      It has to be a concerted effort, there may be a glimmer of hope -  EU calls for 'Tobin' tax in a move to raise direct revenue (article from June 2011). The Brits/Cameron are not too enthused given London's importance to global finance.

      Why not reign in the greedy bankers? Check this video from 2010 - The Robin Hood Tax:

      Paranoia strikes deep. Into your life it will creep. It starts when you're always afraid. You step out of line, the man come and take you away. - S. Stills

      by ask on Wed Nov 14, 2012 at 11:27:33 AM PST

      [ Parent ]

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site