Ingot54
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This news item probably slipped under the mat for most of us:
BBC NEWS | Business | Sarkozy to press for 'Tobin Tax'
It seems the greed of Government knows fewer limits than even the filthy bankers!
Essentially Sarkozy is saying that such a tax would limit excessive speculation by financial institutions.
Here in the Antipodes we suffered a "Debits Tax" for a few years, later abolished. The idea was to levy a tax of 0.02% on every debit transaction on every banking account. The Tax was levied by Australia's State Governments, though I am unsure of its application across all states. Certainly Queensland had it for a time.
From time to time, Countries do cap the level of their currencies - Australia did it back in June 2009, holding the AUD under USD$0.8250 for a four-week period, at a cost of a few $billion.
So any tax on currency transactions, as Sarkozy is proposing to the G-20, would effectively cost taxpayers more, as Governments either prop or cap their respective currencies.
BBC NEWS | Business | Sarkozy to press for 'Tobin Tax'
It seems the greed of Government knows fewer limits than even the filthy bankers!
Essentially Sarkozy is saying that such a tax would limit excessive speculation by financial institutions.
Here in the Antipodes we suffered a "Debits Tax" for a few years, later abolished. The idea was to levy a tax of 0.02% on every debit transaction on every banking account. The Tax was levied by Australia's State Governments, though I am unsure of its application across all states. Certainly Queensland had it for a time.
From time to time, Countries do cap the level of their currencies - Australia did it back in June 2009, holding the AUD under USD$0.8250 for a four-week period, at a cost of a few $billion.
So any tax on currency transactions, as Sarkozy is proposing to the G-20, would effectively cost taxpayers more, as Governments either prop or cap their respective currencies.
