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U.S. Financial Professionals Call for Transaction Tax

Business  (tags: politics, business, finance, taxes, transaction tax, government, economy )

- 2187 days ago -
In an open letter published Thursday, 52 professionals from the financial sector urged the U.S. Congress to pass legislation mandating a tax on financial transaction

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. (0)
Friday June 22, 2012, 4:42 am
In principle I agree 100% with this idea, in fact the EU has called for a similar tax to be applied to transactions taking place in London (England). In essence once again a good idea but there is a problem. The banks (in common with most people who have a lot of money) are rich enough to employ people to get them out of paying any tax at all. In this case all that would happen is that the financial transactions currently taking part in the US (and in the case of London the UK) would be moved to a country not charging the tax; there are many countries who have already shown their willingness to provide a tax haven for those trying to avoid paying taxes! Yes, the richest people in society need to be paying more tax but Governments need to get a bit smarter in how they make them do so!

Billie C (2)
Friday June 22, 2012, 1:20 pm
i don't have a problem with taxing risky trades i do however have a big problem with tax dollars collected here being given to other countries. tax money collected here should benefit our people not other countries. americans give lots of money to good causes. we should have the right to decide how we want to spend our money overseas. the government shouldn't be making those choices they have proven they just throw it away. we are giving aid to countries like china that surely don't need it. then we give it to places like pakistan that hate us. if americans want to donate they should do it through charities of their own choice. the feds need to stay out of it.

Past Member (0)
Friday June 22, 2012, 4:41 pm
As always, the devil is in the details.

Lois Jordan (63)
Saturday June 23, 2012, 1:56 pm
I agree 100% with the Robin Hood tax and have already signed many petitions for it. Hundreds of nurses marched for the implementation of this in Chicago last month.

Mary Donnelly (47)
Saturday June 23, 2012, 6:15 pm
Cal a transaction tax is the second most inefficient and unfairest tax, because people and institutions who/which make a lot of tranactions for the same amount of profit than those who/which don't,pay far more in taxation.

It's the profit which should be taxed.

Kerrie G (116)
Sunday June 24, 2012, 3:17 am
Noted, thanks.

Azaima A (207)
Sunday June 24, 2012, 5:27 pm
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