Despite $352B Upside, Financial Transaction Tax A Hard Sell

Law360, New York (March 18, 2014, 6:23 PM EDT) -- A 0.03 percent financial transaction tax floated by U.S. lawmakers could raise $352 billion in less than 10 years and stabilize financial markets by discouraging high-volume trading, a recent report by Public Citizen says, but experts disagree on whether such trading activity should be a legislative focus.

Public Citizen's report argues that the 0.03 percent financial transaction tax would have a negligible impact on ordinary investors but impose a huge burden on large volume trading known as high-frequency trading — an activity the organization says causes...
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