Bad for Your Wealth
11 European countries, including heavyweights Germany and France, recently signed on to the idea of a financial transaction tax. The European Union introduced the new bill through their "enhanced co-operation" procedure, which would allow nine or more member states to move ahead with it, even if agreement isn't achieved among all 27 nations.
The levy would constitute a 0.1% rate on stock trades, mutual funds, CD's and most other standard risk instruments -- while options, futures and other highly speculative vehicles would be taxed at 0.01% of their notional values. The fees would be imposed on trades in, and out, of tax sheltered accounts....350 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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