A U.S. Financial Transaction Tax: How Wall Street Can Pay for Its Mess

Source: Robert Pollin, New Labor Forum, Vol. 21 no. 2, Spring 2012

In his regular “Economic Prospects” column for New Labor Forum, Robert Pollin explores an idea for bringing some measure of control over speculative financial practices that has gained worldwide support: a tax on financial market transactions. Pollin describes the basic mechanisms of a FTT, its widespread support, and how to set an FTT rate that can have a real impact on excessive speculation and the nation’s economic health.

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