Financial Trading Taxes as a Budgetary Solution?

Periodically, liberal politicians and powerful unions try to tax financial transactions whenever they can, and discourage what they call “excess speculation.” The estimated tax revenue could conceivably bring the government about $200 billion or more, over five years.

                       

Similar moves are often dreamed up in the U.K. and Europe from time to time, by their left-thinking politicians.

                       

The consequences of such taxes on economies are the problem. Securities trading is integral to economics. Such taxes would therefore be indirectly felt by everyone.

                       

All this hides the fact that speculation in a capitalistic society does not

cause problems. Market action merely reflects pricing, something politicians of never comprehend. Capitalism’s presence may appear to help boost rising prices, but works the other way just as easily, when prices fall. Taxes simply help diminish proper market facility. (See the Earl J. Weinreb NewsHole® comments and @BusinesNewshole at Twitter.)