Re "penny a share transfer tax", the UK already does this, it's called the "stam...

throwaway1129 on Aug 9, 2011 | parent | context | favorite | on: Mark Cuban: What Business is Wall Street in?

Re "penny a share transfer tax", the UK already does this, it's called the "stamp tax." Unfortunately, they exempted a few large institutions from the tax, so everyone trades derivative instruments managed by these institutions who don't pay the tax. You only pay the tax if you're stupid.

T_S_ on Aug 9, 2011 [–]

Great point. No exemptions. Otherwise no point to the tax.