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| Topic: Is It Time for a TradingTax? | |
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To its advocates, the idea is a no-brainer: Charge a tinytax on each stock, bond or derivative trade to raise badly needed revenue, discourage dangerous short-term speculation and make Wall Street help clean upits own mess. But critics of the financial transaction tax concept say that it would actuallymake markets less efficient, hurting ordinary investors by raising costs.
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Speculation has triumphed over investment, and the implications of that are very bad.The concept has been around for decades. In 1972, Princeton economist James Tobin, a Nobel laureate, proposed a transaction tax to calm the currency markets. The idea has since been suggested for stock, bond and derivatives markets as well. It's an old question in finance --whether you want to throw some sand in the wheels of the financial markets
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Speculation has triumphed over investment, and the implications of that are very bad.The concept has been around for decades. In 1972, Princeton economist James Tobin, a Nobel laureate, proposed a transaction tax to calm the currency markets. The idea has since been suggested for stock, bond and derivatives markets as well. It's an old question in finance --whether you want to throw some sand in the wheels of the financial markets Financial markets have all the "sand" they can handle right now. It would only serve to slow down the recovery process. However, once recovery is solidly established, speculation should come with a price attached because the result of over speculation is a grossly misinterpreted market which too often negatively affects the little guy. |
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Speculation has triumphed over investment, and the implications of that are very bad.The concept has been around for decades. In 1972, Princeton economist James Tobin, a Nobel laureate, proposed a transaction tax to calm the currency markets. The idea has since been suggested for stock, bond and derivatives markets as well. It's an old question in finance --whether you want to throw some sand in the wheels of the financial markets Financial markets have all the "sand" they can handle right now. It would only serve to slow down the recovery process. However, once recovery is solidly established, speculation should come with a price attached because the result of over speculation is a grossly misinterpreted market which too often negatively affects the little guy. Bernanke needs to print more Money,so Interest on it becomes near Zero! Good for Speculation! Samething blew out the System in '29! Cheap Money spilled over in the Stockmarket,and Speculation brought more "Money" than production! Suddenly Corporations were more worth on paper than in Objective Value! Seems the Movers and Shakers of today still haven't learned the Lesson from '29! Still believe Government could fix it! |
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Speculation has triumphed over investment, and the implications of that are very bad.The concept has been around for decades. In 1972, Princeton economist James Tobin, a Nobel laureate, proposed a transaction tax to calm the currency markets. The idea has since been suggested for stock, bond and derivatives markets as well. It's an old question in finance --whether you want to throw some sand in the wheels of the financial markets Financial markets have all the "sand" they can handle right now. It would only serve to slow down the recovery process. However, once recovery is solidly established, speculation should come with a price attached because the result of over speculation is a grossly misinterpreted market which too often negatively affects the little guy. Bernanke needs to print more Money,so Interest on it becomes near Zero! Good for Speculation! Samething blew out the System in '29! Cheap Money spilled over in the Stockmarket,and Speculation brought more "Money" than production! Suddenly Corporations were more worth on paper than in Objective Value! Seems the Movers and Shakers of today still haven't learned the Lesson from '29! Still believe Government could fix it! Likened an ever increasing Supply of cheap Money to "putting a Penny into the Fuse-Box! When it blows,it blows out the whole system,not just the Overloaded part! Fiat-Money and Central Planning,Poison to any healthy Economy! |
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Speculation has triumphed over investment, and the implications of that are very bad.The concept has been around for decades. In 1972, Princeton economist James Tobin, a Nobel laureate, proposed a transaction tax to calm the currency markets. The idea has since been suggested for stock, bond and derivatives markets as well. It's an old question in finance --whether you want to throw some sand in the wheels of the financial markets Financial markets have all the "sand" they can handle right now. It would only serve to slow down the recovery process. However, once recovery is solidly established, speculation should come with a price attached because the result of over speculation is a grossly misinterpreted market which too often negatively affects the little guy. Bernanke needs to print more Money,so Interest on it becomes near Zero! Good for Speculation! Samething blew out the System in '29! Cheap Money spilled over in the Stockmarket,and Speculation brought more "Money" than production! Suddenly Corporations were more worth on paper than in Objective Value! Seems the Movers and Shakers of today still haven't learned the Lesson from '29! Still believe Government could fix it! EXACTLY!!!!!!!!!!!!!!!!!   Calls for a  dance!
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Speculation has triumphed over investment, and the implications of that are very bad.The concept has been around for decades. In 1972, Princeton economist James Tobin, a Nobel laureate, proposed a transaction tax to calm the currency markets. The idea has since been suggested for stock, bond and derivatives markets as well. It's an old question in finance --whether you want to throw some sand in the wheels of the financial markets Financial markets have all the "sand" they can handle right now. It would only serve to slow down the recovery process. However, once recovery is solidly established, speculation should come with a price attached because the result of over speculation is a grossly misinterpreted market which too often negatively affects the little guy. Was the market terrible inefficient in the 70s? Did it cost to much to make transactions back then? Modern technology as lowered the actual cost of transactions. Now many traders gladly pay a small fee business which make their trading easier and more convenient. Suppose this tax simply raised the cost of trading back to pre-internet levels? Surely that can't be 'too much' of a barrier. |
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