Tobin Tax cont'd.
Would be most effective if instituted globally.
Other than The Race to the Bottom, all coutries ought to be willing to embrace it- who doesn't like a new source of revenue? And for countries with little or no financial markets, who cares- unless they think Robert Mercer will set up shop in Zimbabwe.
Ideally, it should be small enough that the primary impact is to simply make the more destructive forms of trading- think HFT- impractical. In that case it would be a significant, but not huge- new revenue source.
BTW, HFT used to be a hot topic but didn't hear a word about it after The Man of the People took office.
Re: Tobin Tax cont'd.
BTW, never did hear what became of Mercer’s multi-$B tax beef.
Or the Caterpillar case that Fat Billy was lead attorney on before he auditioned to be Dennison’s Roy Cohn (similar result).
Well, did hear it was immediately set aside.