How could a "slight" financial transaction tax raise 250 billion in revenue? The profits of the entire banking sector in Switzerland is only 20 billion a year. The entire economy of Switzerland (GDP) is only about 800 billion.
Similarly arithmetically impossible claims were made by European politicians arguing for an FTT two years ago - claiming they would raise 100s of billions from an industry (HFT) which only generates 5 billion or so profits a year - worldwide.
Similarly arithmetically impossible claims were made by European politicians arguing for an FTT two years ago - claiming they would raise 100s of billions from an industry (HFT) which only generates 5 billion or so profits a year - worldwide.