There is enough data to declare that a transaction tax is a loser. Canada tried it. The bid/ask spread rose 9%. This resulted in a transfer of wealth from retai

There is enough data to declare that a transaction tax is a loser. Canada tried it. The bid/ask spread rose 9%. This resulted in a transfer of wealth from retail investors to institutional ones. http://qed.econ.queensu.ca/pub/faculty/milne/322/IIROC_FeeChange_submission_KM_AP3.pdf http://qed.econ.queensu.ca/pub/faculty/milne/322/IIROC_FeeCh...