Good luck with that "global" tax on financial transactions; there are numerous markets in second-tier countries which see this as an excellent competitive advan

Good luck with that "global" tax on financial transactions; there are numerous markets in second-tier countries which see this as an excellent competitive advantage, and those countries are motivated to resist pressure to implement the tax due to past histories of humiliation and exploitation by developed countries. The wealthy have a much higher ability to rearrange their lives and businesses to avoid taxes than average people, just ask Eduardo Saverin. As a practical proposal, taxing the wealthy is likely to result in a much less significant result than you would expect.