Activity Quote by Eric Kierans
“Currency speculation-over a trillion dollars a day-is a tax-free activity. The notion of a tax on "day trades" or other speculative swaps was revived in recent years, but has been studiously ignored by all our purveyors of conventional economic wisdom. That is because we have been persuaded, against logic, and moral sense, that the institution that most needs our support these days is not society, nor the human community, but the global corporation.”
About This Quote
Speculative currency trading generates massive daily profits without taxation, highlighting a policy blind spot and suggesting that corporate interests outweigh societal welfare.
In simple terms: Tax‑free speculation benefits corporations over society.
Key Takeaway
Current tax policy favors corporate speculation.
Themes
Economic policy
Taxation
Corporate power
Speculation
Financial markets
Mood
Critical
Skeptical
Concerned
Type
Political
Economic
Analytical
When to use this quote
- Policy debates on financial regulation
- Corporate lobbying
- Public discourse on tax fairness
Key Concepts
Tax avoidance
Regulatory capture
Wealth inequality
Practical Applications
- Designing taxes on high‑frequency trading
- Advocating for equitable financial reforms
Questions to Reflect On
- How does untaxed speculation affect income distribution?
- What mechanisms could balance market efficiency with fairness?
A Different Perspective
Some argue that taxing day trades could stifle market liquidity and innovation.
![“I am quite conscious that my speculations run beyond the bounds of true science…It is a mere rag of an hypothesis with as many flaw[s] & holes as sound parts.” quote by Charles Darwin](https://sms4smile.com/quotes/img-quotes/958/charles-darwin-507_bounds_i-am-quite-conscious-that-my-speculation_35382.jpg)
