Wednesday, November 18, 2009

House Democrats propose yet ANOTHER TAX

The idea is attractive (Ben's note: attractive to whom) because it’s very small, likely 0.25 percent of each trade. And since Wall Street is perceived by many as having caused the economic slump, brokers have little political standing to try to stop it.
It also has the support of the nation’s largest labor union.

The AFL-CIO, one of the Democratic Party’s most powerful allies, suggested the idea in August.

The group’s policy director, Thea Lee, estimated the tax could raise between $50 billion and $100 billion per year.