tag:blogger.com,1999:blog-8242873948775998562.post3049129083918372335..comments2023-02-20T18:30:25.006+13:00Comments on KJT. Random musings on all sorts of things.: Arguments against a Financial transaction tax are Bogus.KjThttp://www.blogger.com/profile/13583435107822078614noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-8242873948775998562.post-57171458268598326552011-05-04T18:22:14.770+12:002011-05-04T18:22:14.770+12:00The problem with a FTT is the very rich can mostly...The problem with a FTT is the very rich can mostly avoid it and moderatly rich, middle classes and poor cannot.<br /><br />It does depend what you apply it to, but simple ones that apply to all financial transactions are *very* regressive. Sort of a "Nottingham Sheriff" tax.<br /><br />The very rich simply perform all their transactions in overseas jurisdictions.<br /><br />The banks will minimise their transactions using accounting tricks.<br /><br />There are good and bad ways of implementing a transaction tax. Good ways discourage speculation but raise SFA revenue, bad ways raise revenue but are very regressive.<br /><br />peace<br />WBlissnoreply@blogger.com