Lisa Gray Lisa Gray has been a wealth writer since 2001. She has been involved in the wealth management industry since 1988. She is the author of two bestselling books—The New Family Office and Generational Wealth Management.
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France And Other European Countries Are Considering Adding A Tax To Stock And Bond Transactions But The White House Would Likely Oppose Such A Move |
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Thursday, September 06, 2012 13:04
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Tags: Advisor businesses | investing | Taxes
Financial leaders in France and in other European countries are considering placing a tax on the sale of stocks and bonds. But the White House is opposed to such a tax, saying it would drive trading overseas and hurt US financial markets. This Website Is For Financial Professionals Only
Advocates of the tax say it would do little to harm trading of securities and that even a small tax would raise billions of dollars.
The tax is being considered as an effort to improve European countries’ economies. But President Obama’s communications director, Dan Pfeiffer, makes the point that the US doesn’t always go along with what the rest of the world is doing.
Even if the White House supported such a move, it’s likely Republicans in Congress would be opposed and move to thwart it.
Such a tax would likely hurt returns further in an already weak economic environment. The implications of such a tax would likely be far broader than they appear.
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