Transaction Tax On Financial Speculation Gets Boost From Occupy Wall Street
Ryan Grim (Huffington Post)
October 26, 2011

“Boosted by the Occupy Wall Street movement, two Democrats in the House and Senate are renewing a push for a transaction tax on speculative trades. The tax would be set at a nominal rate designed to have little impact on pension funds that buy and hold securities for the long term or on individual investors who don’t make hundreds or thousands of trades a day.  ‘This proposal will not only curb some risky trading activities, but will also raise greatly needed revenue in a way that does not negatively impact middle-class Americans,’ said Kate Cyrul, a spokeswoman for Sen. Tom Harkin (D-Iowa), who plans to introduce Senate legislation when the upper chamber, which is now in recess, returns. … Americans for Financial Reform, a coalition of progressive and labor organizations focused on reforming Wall Street, threw its weight behind the tax in a letter to the super committee:” Click here for more.