For high-frequency (or mid-frequency) trading, 1% of the transaction is 3 or 4 times the expected value from the trade.
I’m very much not sure discouraging HFT is a bad thing.
this probably doesn’t matter unless the transaction tax REPLACES other taxes rather than being in addition to
I imagine that it would replace/reduce some of the other taxes so the government would get the same amount of money.
it encourages companies to do things in-house rather than outsourcing or partnering, since inside-company “transactions” aren’t real money and aren’t taxed
But normal taxes have the same effect, don’t they?
Sometimes altruism is truly selfless (if we don’t use too broad tautological definition of self-interest).
Sometimes altruism is actually an enlightened/disguised/corrupted/decadent self-interest.
I feel like there is some sense in which first kind is better then second, but can we have more of whatever kind, please?