Thursday, October 23, 2008

Tax on Securities Transactions

I don't know why this hasn't occurred.  Presently there is a tax on securities transactions of .0033%.  Setting it at .5% would raise roughly $65 billion.  Such a tax shouldn't have a negative impact on US financial markets competitiveness as other major exchanges such as the UK and Hong Kong levy a similar fee.  Here is a CRS study on a Securities Transaction Tax.

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