Periodically, politicians and powerful unions try to tax financial transactions whenever they can, and
discourage what they call “excess speculation.” The estimated tax revenue would conceivably bring the government billions over the years.
Similar moves are often dreamed up in the U.K. and Europe from time to time, by their politicians.
The consequences of such taxes on economies is 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 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 economics. (See the Earl J. Weinreb NewsHole® comments and @BusinesNewshole at Twitter.)
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