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View Diary: The Robin Hood Tax on Wall Street - Why We Need It. (23 comments)

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  •  Derivatives are written into the Robin Hood Tax... (2+ / 0-)
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    pkilkus, RMForbes

    which is a minuscule tax on the purchase and sale of derivatives, options and stocks.

    0.5% on stocks, just $.50 for each $100 of stock trades;

    0.1% on bonds, just $.10 for each $100 of bond trades;

    0.005% on derivative speculation in currencies, commodities, or other trades, just $.005 (half a penny) for each $100 of trades

    •  But they would still need to be forced into an (0+ / 0-)

      exchange before they could be taxed. The tax code would need to be modified to make it illegal to trade derivatives between banks without going through an exchange like is done now. Besides I believe the transaction tax should be higher on derivatives than stocks. I can understand why commodity trades should be taxed at a lower rate but not the derivatives that were responsible for creating the financial bubble that crashed the world economy in 2008 when it burst.

      Really don't mind if you sit this one out. My words but a whisper -- your deafness a SHOUT. I may make you feel but I can't make you think..Jethro Tull

      by RMForbes on Wed Mar 12, 2014 at 11:50:06 AM PDT

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