Once again they are talking about taxing stock transactions. They really don’t have a clue, do they?
From Tom Tankka:
The “real” cost will be less trading, thinner markets, more volatility, and volume moving overseas to trade will be much higher.
Money is fluid. It won’t stay here for prestige, that is for sure. Liquidity was the problem last year in the form of a credit crunch. This will kick off an equity crunch.
Forgive the political post but this directly affects my industry – customers, dealers, information providers, analysts and yes, small investors. A tax is a tax is a tax.