Liberal politicians and powerful unions try to tax financial transactions whenever they can and thus discourage what they call “excess speculation.” A similar move is always thought of in Great Britain and Europe from time to time.
The estimated tax revenue in the U.S. this would bring the government is about $200 billion over about five years.
However, securities trading is integral to economics. Such taxes would therefore be adversely felt by everyone.
Speculation in a capitalistic society does not cause problems. It merely reflects pricing, something politicians of the left never comprehend. Capitalism’s presence may appear to help boost rising prices, but works the other way just as easily, when prices fall. (See the Earl J. Weinreb NewsHole® comments and @BusinessNewshole at Twitter.)
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