Originally Posted by MariconesUnited
I don't think Sweden is a good example to study. All of Europe and now the US is preparing to do the same.
That's not true. Two countries in Europe (France and Germany) are trying to push it and are repeatedly being told no by the rest. Merkel and Sarkozy need it because they know putting France and Germany in hock to bail out the PIIGS is politically untenable, and they're stuck.
The bill frequently is authored in the US, but rarely even has the support to come up for discussion in committee. It certainly can't pass a floor vote in either chamber. If Europe does a tax, it will be only 4-5 countries at most, the US will skip it, and the US will be thrilled to take all that EuroSTOXX and Bund business. It'll be like Christmas
For reasons I don't fully understand, the financial transaction tax seems attached at the hip to people who don't know basic facts about its history and the politics around it. That's probably because anyone who did know those facts would realize how bad an idea it is.