Comments on: Drama Over The Latest Hackneyed Tax Proposal http://lolfed.com/2009/11/28/drama-over-the-latest-hackneyed-tax-proposal/ Financial Humor, Political Jokes and LOLCats Tue, 15 May 2012 19:52:19 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: Martinhttp://lolfed.com/2009/11/28/drama-over-the-latest-hackneyed-tax-proposal/#comment-4315 Martin Thu, 03 Dec 2009 10:17:37 +0000 http://lolfed.com/?p=5122#comment-4315 Just for shits and giggles (and for the sake of not appearing like a moron), do a search for "stamp duty in the United Kingdom". Hint: It has existed for 300 years, is twice as high as the proposed duty in the US, and has not kept London from employing more bankers than you could shake a pointy stick at. In other words: The whining by brokers and day-traders is a self-serving distraction, and does not contribute to the discussion of whether Tobin taxes are efficiency enhancing or not. Just for shits and giggles (and for the sake of not appearing like a moron), do a search for “stamp duty in the United Kingdom”. Hint: It has existed for 300 years, is twice as high as the proposed duty in the US, and has not kept London from employing more bankers than you could shake a pointy stick at.

In other words: The whining by brokers and day-traders is a self-serving distraction, and does not contribute to the discussion of whether Tobin taxes are efficiency enhancing or not.

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