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Stick a 1% tax on all share buys and use to reduce income tax for working people, or just issue it as a cheque at the end of the year that people can invest. T
by midasuni 6y ago
Stick a 1% tax on all share buys and use to reduce income tax for working people, or just issue it as a cheque at the end of the year that people can invest.
That doesn’t harm investing
- catmanjan 6y agoUh, that's a great idea, has this ever been proposed formally?
- deleted 6y ago[deleted]
- spiralx 6y agoFinancial transaction taxes have been introduced in any number of countries, the majority of which have ended up repealing them: the tax raised on transactions is outweighed by the loss of capital gains caused by a reduced number of transactions occurring. And in today's global financial system you could end up like Sweden, where introducing an FTT saw 80% of trading move to London within a year...
- nemo44x 6y agoThe Net Investment Tax is a better way and already exists. It taxes actual gains over a threshold so “the little guy” is unlikely to pay.
- greggyb 6y agoSure it does. Any investment with an expected return of <1% immediately flips from positive value to negative value for an investor.
- hntrader 6y ago"That doesn’t harm investing" Not true. The cost will be largely passed on from market maker to investor through bid offer spread.