51 49 with James Li
@5149jamesli·263K subscribers·674 videos
The Truth About a Financial Transaction Tax
Posted
February 17, 2021
Views
1,073
Likes
83
Comments
57
Engagement
13.05%
February 17, 2021
1,073
83
57
13.05%
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9:55Now PlayingThis week on 51/49, James explores the merits of a financial transaction tax (FTT), sometimes known as a "Wall Street Sales Tax", and debunks years of Wall Street propaganda and lies against such a proposal.
A Financial Transaction Tax is a tax on the buying and selling a stock, bond, or other financial contract like options and derivatives.
Proponents of financial transaction taxes say it’s a way to cut down on speculative behavior in the stock market, raise revenue, cut down on the type of speculation and “rent-seeking” that high-frequency traders engage in, and potentially cut down on the destabilization some say they cause in the market.”
Critics of the FTT (Wall Street think tank The Modern Markets Initiative CEO Kristen Wegner) say that it would harm retail investors (aka Main Street) by drive down stock prices making capital more expensive for firms, increase the bid-ask spread which reduces market liquidity and increases volatility.
So what's the truth?
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