> For example Forex trading in the City of London moves $6.6 trillion of money around, every single day. A Tobin Tax of 0.1% on that would raise $2.5tn a year - which would almost instantly wipe out the UK's entire national debt.
Traders can just move money to other trading system, e.g. futures, or they can just stop trading and instantly gain $2.5T a year in saved taxes, which is equivalent of UK's entire national debt!
If you want to capture these $2.5T, you need to close borders and tax these traders physically, one by one, like Soviet Union, China, North Korea, etc.
Traders can just move money to other trading system, e.g. futures, or they can just stop trading and instantly gain $2.5T a year in saved taxes, which is equivalent of UK's entire national debt!
If you want to capture these $2.5T, you need to close borders and tax these traders physically, one by one, like Soviet Union, China, North Korea, etc.