Many folks don't realize the U.S. had a Financial Transaction Tax from 1914-1966 and
it didn't hurt prosperity a bit during the peak of the "American Century." We
still have very small one:
United States (1914-1966)
The
US imposed a financial transaction tax from 1914 to 1966. The federal tax on
stock sales of 0.1 per cent at issuance and 0.04 per cent on transfers.
Currently, the US has a very minor 0.0034 per cent tax which is levied on stock
transactions. The tax, known as Section 31 fee, is used to support the operation
costs of the Securities and Exchange
Commission (SEC). In 1998, the federal government collected
$1.8 billion in revenue from these fees, almost five times the annual operating
costs of the SEC.[32]
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