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From the article: "A levy of just 0.1 percent — or even just 0.05 percent — levied on each stock, bond, derivative or currency transaction would be aimed at fi
by J3L2404 15y ago
From the article:
"A levy of just 0.1 percent — or even just 0.05 percent — levied on each stock, bond, derivative or currency transaction would be aimed at financial institutions’ casino-style trading, which helped precipitate the economic crisis. Because these markets are so vast, the fee could raise hundreds of billions of dollars a year – from the sector of the economy that made towering profits while being directly responsible for our present depression..."
And later
"We need a small Transaction Fee not only because it will bring in revenue from the sector of the economy that made huge bonuses while wrecking our economy, restoring an emphasis on those providing new, competitively innovative goods and services.
The bigger reason is that human investors won’t care about – or even be aware of – a 0.1% trade fee. But those computerized parasitical systems will howl in agony!"