It is not often I can point to a left leaning article and agree with it, but Tim Worstal pointed me to an editorial on the web site Labour List, dissecting the so called Robin Hood Tax promoted by certain, and I should say also highly paid, "Luvvies".
The entire article is worth reading, least of all for this nugget:
Not only does the FTT probably result in a reduction of tax receipts but it actually facilitates tax avoidance schemes using tax havens by a replacing a non-jurisdictional relevant stamp duty with a jurisdictional relevant FTT.
Another little wrinkle, the actual rate that applies to a transaction entered into by your pension fund is not 0.1%.......
Read on to find out the staggering amounts that will be charged to your pension.
