moldybluecheesecurds 2

Wednesday, December 02, 2009

This is one tax we should all like
It's called the financial transactions tax, and it would add a tiny fee to each stock trade or currency exchange processed. For the typical American, it'd be negligible - pennies.

But for firms that make their money on the daily ups and downs of foreign currency exchange or stock prices (and accomplish nothing of social value in doing so), it would end the waste. After financial firms started the worst economic downturn since the Depression with speculation with mortgage derivatives, this seems like a gimme.

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