Financial Flows and Transactions Taxes: Survey and Options" (PDF). 95 Stamp duty was introduced as an ad valorem tax on share purchases in 1808, 96 preceding by over 150 years the Tobin tax on currency transactions. Also in 2016 US Democratic Party potus nominee Hillary Clinton included in her platform a vow to "Impose a tax on high-frequency trading. The author estimated the ratios of financial- to non-financial job losses of between 10:1 to 10:4, that is "a 10 percent decrease in securities industry employment would depress employment in the retail, services, and restaurant sectors by more than 1 percent; in the business services.
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Gallery: The 15 Most Expensive Tax Breaks 16 images, view gallery, capital gains. "The effectiveness of Keynes-Tobin transaction taxes when heterogeneous agents can trade in different markets: A behavioral finance approach". Even though the tax on fixed-income securities was much lower than that on equities, the impact on market trading was much more dramatic. In contrast, some papers find a positive effect of a transaction tax on market volatility. For example, the D currency pair trades with spreads as tight as 1/10 of a basis point,.e. It simplified the two-tier tax in favour of a mechanism designed solely as a means for raising development revenue. He stated, "I think there is a case for a Tobin tax. 84 Being faced with stiff resistance from some non-eurozone EU countries, particularly United Kingdom and Sweden, a group of eleven states began pursuing the idea of utilizing enhanced co-operation to implement the tax in states which wish to participate. Tax treatment of options on precious metals ETFs is unclear; some tax professionals make a case for Section 1256 treatment as a non-equity option.