Briefing On Financial Transaction Taxes
Sponsored by Senator Tom Harkin, Representative Peter DeFazio, Congressional Populist Caucus
Friday, October 21 st 10:30am – 12:00pm
U.S. Capitol Building S-115
Americans for Financial Reform, AFL-CIO, Institute for Policy Studies, The Center for Media and Democracy, and The Center for Economic and Policy Research
John Fullerton – Former Managing Director, J.P. Morgan Co. and Founder and President of the Capital Institute
Frédéric Doré – Minister Counselor, Deputy Chief of Mission at the French Embassy to the United States
Damon Silvers – Director of Policy and Special Counsel, AFL-CIO
Dean Baker – Co-Director, Center for Economic and Policy Research
Moderator — Lisa Donner – Executive Director, Americans for Financial Reform
A small tax on financial transactions would raise tens of billions of dollars a year and curb dangerous high speed trading. Support for a transaction tax is growing in the US and around the world. The European Union recently proposed a tax of 10 cents per $100 of securities transactions, and 10 cents per $1,000 of derivatives transactions. France and Germany have already endorsed this proposal. The European Union forecasts that this tiny tax will raise some $70 billion annually.
Find out more about this new approach to raising revenues and stopping destabilizing and unproductive financial speculation.
Read our letter to the super committee advocating for a financial transaction tax here.
Read John Fullerton’s, The Capital Institute’s fact sheet on financial transaction tax here.