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As stated in the article, the intention of the tax seems to be to ensure financial services industry contributes their fair share of tax payers contributions to
by hardlianotion 10y ago
As stated in the article, the intention of the tax seems to be to ensure financial services industry contributes their fair share of tax payers contributions to bailouts. I don't see how this is guaranteed - it seems more likely that costs of doing business will be passed to end users. More likely is a general slowdown of business - maybe that is the goal of the project.
My other comment is a bit of a nitpick. I don't think it good sense to implement a new tax on the basis that you don't see good arguments against. I think rather that you need strong arguments for.
- patall 10y agoI thought the main reason for it was more regulation of high frequency trading and its adverse effects on market stability. Making money from it is a lower priority, thats what capital tax is for.