By Mike "Mish" Shedlock

There is massive theoretical as well as actual real life evidence that financial transaction taxes will backfire, but that never stops politicians hell-bent on plowing ahead with "it's different this time" horrendous ideas.

Via Google Translate from Les Echos, please consider Sarkozy's stock exchange tax as of August 1

The 0.1% tax on financial transactions will apply from 1 August. In addition to equities, derivatives and high frequency trading are also covered.

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