Financial Transaction Tax

Here’s an idea: more costs associated with transacting business in the financial markets– 0.1% to 0.25% per trade.  This idea floated by labor unions would tax your personal account transactions and all other “wall street financial” transactions.  US capital markets took a hit after the Sarbanes-Oxley Act, which is seen by many as over-burdensome regulation that has deterred many from listing/IPO-ing/raising capital here in the US.  It appears that some people do not fully understand the consequences of taxes (here is a treat for Wiki lovers, this is more in-depth).

-Billy Ray

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