Quote Originally Posted by gaelic cowboy View Post
There obsessed with transaction taxes for some reason and no one has clearly pointed out a reason why this actually makes sense.
It is to penalise the short-term transactions which is effectively money laundering by the super-rich and large corporations. The effect it has on Joe Bloggs is so minimal that you won't even notice it. If I remember the figures, the currency and share trading market is 7 times higher than Global GDP and it goes untaxed. It is a big ol' gravy train which the super-rich and large corporations enjoy.

0.1% tax on that is "nothing", it is only 0.1%. To put it bluntly.

Me and you have our £10 notes, 1p is taxed. We wouldn't even blink at it, probably think it fell down the sofa. Or even far more likely, we don't even touch this share market and won't even lose it.