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- Title
ECONOMIC PROSPECTS: A U.S. Financial Transaction Tax: How Wall Street Can Pay for Its Mess.
- Authors
Pollin, Robert
- Abstract
The article focuses on the plan to impose tax on financial market transactions, which aims to control speculative financial practices that gained worldwide support. It states that U.S. Senator Tom Harkin and House Representative Peter DeFazio introduced a legislative bill for a financial transaction tax (FTT) in the U.S. Congress. Furthermore, the proposed FTT would set the tax rate on all financial market trades, such as bonds, stocks and all derivatives, at 0.03 percent of the trade value.
- Subjects
UNITED States; TAXATION of securities; FINANCIAL markets; HARKIN, Tom, 1939-; DEFAZIO, Peter; UNITED States. Congress; TAX laws
- Publication
New Labor Forum (Sage Publications Inc.), 2012, Vol 21, Issue 2, p96
- ISSN
1095-7960
- Publication type
Article
- DOI
10.4179/NLF.212.0000013