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A Wall Street sales tax—taxing financial transactions. A modest set of taxes on trades of stock, bonds, and derivatives could raise a vast amount of money—quite possibly more than $1 trillion over a decade. Virtually all the money would come from Wall Street since most people will cut back their trading in proportion to the increase in costs. In addition, a tax would reduce speculation and possible lessen the volatility in financial markets.

Submitted by Dean Baker, Co-Director of the Center for Economic and Policy Research in Taxes & Budget Dec. 10, 2014, 1:36 a.m.

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#45

3593 votes

Put a transaction fee on wall street.

Submitted by Marvin M. from WA in Taxes & Budget Dec. 10, 2014, 8:39 p.m.

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Impose a miniscule federal transaction tax on ALL trades of stock, commodities, futures contracts, default swaps, etc. Say one millionth of the value of the trade. Thus on a hundred million dollar deal, the tax would be $100 and hardly noticeable. But with trillions of dollars of daily transactions the amounts generated would be significant for the treasury and could replace other forms of taxation. And it would put the cost of funding our system on the major beneficiaries of our system.

Submitted by David Lewis in Taxes & Budget Dec. 10, 2014, 12:13 p.m.

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THE 'EZ TAX': Champion the Financial Transactions Tax, not as the poorly-monikered, opposition-guaranteeing 'Robin Hood Tax,' but as the EZ Tax -- because that's what it is: easy! It's a tax on computer operations, not people, and the easiest-to-collect and most painless tax imaginable. While raising more than $1 trillion over a decade, reducing speculation, and lessening financial market volatility, as described by economist Dean Baker.

Submitted by Gregory Wright, ADA So Cal Board Member in Taxes & Budget Dec. 22, 2014, 5:40 a.m.

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Revenue increase and financial speculation suppression through use of a Securities Transactions Excise Tax.

Submitted by Erin S. from IL in Taxes & Budget Nov. 21, 2014, 3:54 p.m.

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One-tenth of Basis Point financial transaction tax on Wall Street.

Submitted by Don D. from NH in Taxes & Budget Nov. 18, 2014, 12:10 p.m.

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Tax stock market transactions.

Submitted by Lew in Taxes & Budget Dec. 18, 2014, 9:26 a.m.

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Citation: http://www.cepr.net/index.php/publications/reports/the-deficit-reducing-potential-of-a-financial-speculation-tax

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Drew B

http://www.robinhoodtax.org/how-it-works

Jan. 4, 2015, 2:57 p.m.