SInNYC
Jr. Member
Posts: 1,225
|
 |
« on: June 05, 2020, 03:52:05 PM » |
|
A financial transaction tax makes great sense, but as a way to discourage unproductive and harmful economic activities, not for revenue. Ideally, it would put an end to inherently corrupt and unproductive economies by eliminating day trading and the like, so that it doesn't end up getting much revenue.
For some reason its a mantra that things like 23rd derivatives and day trading are essential to a modern economy, but these do not create wealth - all they do is transfer wealth to those with the fastest connections and best (or most unscrupulous) quants. The usual argument is of course is its effect on liquidity, but liquidity existed well before the explosive growth of these activities.
|
