Political News – RS – Tax on Financial Transactions…

Tim O'Reilly's profile photo

  –  Yesterday 5:22 PM  –  Public
This ad is very, very well done. Well worth watching, even if you don’t agree, for Bill Nighy’s splendid acting.

I suspect the proposed tax on financial transactions wouldn’t raise as much money as projected, because it might put a major damper on speculative activity by banks. While the proposed tax appears to be very small, the reason it would raise so much money is that the volume of financial transactions is so high. Trillions of automated transactions that collectively make billions of profit for banks might actually make only a small profit per transaction. The tax might thus be a larger part of the profit on each transaction, making certain kinds of financial churn no longer profitable.

I think this is likely a good thing. But there may be better ways to achieve the same goal.

Lawrence Wilkinson's profile photoLawrence Wilkinson originally shared this post:
Robin Hood, Robin Hood, riding through the glen
Robin Hood, Robin Hood, with his band of men
Feared by the bad, loved by the good
Robin Hood, Robin Hood, Robin Hood

youtube.com – Campaign video by Richard Curtis and Bill Nighy, about the Robin Hood Tax, a tiny tax on bank transactions that could raise hundreds of billions for public…

About llllll12llllllgllllll

Philadelphia Resident Activist, Philosopher, Artist, Film Maker
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