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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: KyrosL who wrote (125701)11/27/2009 3:35:22 PM
From: JohnM  Respond to of 542970
 
Goldman Sachs wouldn't be happy, so I was not surprised that the US is the one that's preventing its implementation.

I keep looking for vivid ways to convey the degree to which Geithner trapped in the Wall Street world view. This one would be a terrific one. Except that no one really cares. Though, they obviously should.



To: KyrosL who wrote (125701)11/27/2009 5:07:24 PM
From: Night Trader  Read Replies (2) | Respond to of 542970
 
Krugman is just copying his hero Keynes who suggested such a tax (somewhat jokingly I believe) in his famous book. A trading tax would dry up liquidity in smaller stocks, increase spreads and make many of them untrade-able, so leading to a more inefficient market. The US tax system already tilts more towards consumption and housing and against investment than almost any other country.


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