Posted by asicsning
Former U.S. Chief Justice John Marshall once said: the power to tax is related to the power of destruction . From the MBT Shoes stock market history, has six adjusting stamp duty, five of which lowered tax rates , the stock market to save the dying , belonging to the government's support for the hands . The actual response from the market point of view, the policy effect is not obvious , the stock market 's popularity and confidence has not been restored. Touches every rise , the stock market will make a violent reaction : June 12, 1992 , the State decided to pay the stamp duty rate of 3% , although the day index does not react violently , but then the index turned down after a month of consolidation , all the way from over 1100 points fell more than 300 points, or more than 70% . May 10, 1997 by the Ministry of stamp duty on stock transactions thousandths upwards to two hundred, the historical development of the stock market has become a turning point , since the increase in stamp duty the next day , the effect of policies began to force , the stock market began abruptly , within three months, the stock market dropped as much as 50% , it is still a lingering fear of the fierce power .This raised the stamp duty, and in 1997 to adjust the historical background of great similarities, hot stocks , trading strong, government propaganda often ineffective. Whether the central bank to raise reserve , or mention again taken after preparation, interest rates and exchange rate fluctuations space to expand the three rate indirect linkage control measures have failed to curb the momentum of the stock market hit record highs , the stock market is still in the triumph of the market constantly creating new transaction records , account number exceeded 100 million mark. In case of failure of monetary policy , the government took administrative intervention evocative fiscal policy - stamp duty increase , the government 's determination and attitude have no doubt , but I personally think that both the government introduced the policy of motivation, or control objectives , will not cause that kind of policy effect in 1997 , raising the stamp duty on stock market short-term impact is obvious, but in the long run, have limited impact on the historical development of the stock market will not be the inflection point .
Posted: 4:45 am, September 3rd, 2013 in New York City
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