EIN News: U.S. Should Tax Financial Transactions
WASHINGTON, March 18, 2013 /PRNewswire-USNewswire/ -- Horror of horrors. Eleven countries in Europe, including Germany, France and Italy, seem ready to impose a .1 percent tax on stock and bond trades and a .01 percent tax on derivative trades.
And the earth below the pillars of western capitalism is shuddering. Financial markets will collapse as investors stop trading. Tens of thousands of jobs will be lost. Stock prices will become more volatile. The unintended consequences are unknown but undoubtedly would be negative and severe.
Or so opponents claim.
A few weeks ago, U.S. Senators Tom Harkin of Iowa and Sheldon Whitehouse of Rhode Island, along with Rep. Peter DeFazio of Oregon introduced a comparable financial trade tax bill for the U.S. They estimate that such a tax would generate $352 billion over 10 years.
To read the rest of EIN News' syndicated columnist Joe Rothstein's commentary go to:
- Europe's About to Tax Financial Transactions, the U.S. Should, Too - http://uspolitics.einnews.com/column/142046775/europe-s-about-to-tax-financial-transactions-the-u-s-should-too
About the publisher of US Politics Today, EIN News (http://www.einnews.com/)
EIN News has developed one of the world's leading real time news indexing services. Its systems continuously scan the web, indexing news from thousands of worldwide sources. The data is then filtered according to specific needs, and the processes are supervised by a team of professional news editors.
The company's services include:
- EIN Presswire (http://www.einpresswire.com), a press release distribution service that reaches nearly 10 million people each year. Its archive contains over 200,000 press releases posted in the last 365 days.
- EIN World Conference Directory (http://events.einnews.com), a platform to list your business conference or other trade event online for free. The event listings are included in one of the world's largest news indexes.
- Newsfeed Maker (www.newsfeedmaker.com), a syndication service that searches thousands of online sources and delivers results directly to the websites of its members. Users can manage up to 10 news feeds from one central location, its various formats make it accessible for every website or blog.
- EIN Inbox Robot (www.inboxrobot.com), a newsletter service that searches thousands of online sources and delivers results directly to the email inbox of a user or a group of users.
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