bsmall2> We would just see many fewer people making big fortunes by beating the market by a few hours or seconds. That is bad news for these would be billionaires, but not the sort of thing the rest of us need to worry about. They can look for more productive jobs elsewhere.
https://www.counterpunch.org/2025/01/29/trumps-taxes-tariffs-on-imports-and-sales-taxes-on-stocks-ftt/
#DeanBaker on #FTT #FinancialTransactionsTaxes
#DOGE
Trump's Taxes (Tariffs) on Imports and Sales Taxes on Stocks (FTT)
I have been pushing for financial transactions taxes (FTT) for more than three decades. The logic is straightforward. We have an enormous volume of transactions in the financial sector that serve no productive purpose. Hedge funds and other big actors can buy millions of dollars of stock or other financial assets and then sell them off five minutes or even five seconds later.