Financial Transaction Tax

A financial transaction tax is a levy on trades in the financial markets. The case against a financial transaction tax is strong, and the arguments against it are well known. Such a tax would cycle through the economy, harming retirees and those planning for retirement, issuers, investors, pensioners and businesses.

Proposals for a financial transaction tax have been separately introduced in Europe and the U.S. If a tax is only imposed regionally, essential businesses will move to other jurisdictions and that region will be put at a competitive disadvantage.

External Resources

SIFMA’s Pennsylvania and Wall Blog:  A Global European Sales Tax - 27 February 2013

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