January 18, 2015 @ 3:35 pm

    I applaud Congressman Van Hollen for his visionary tax initiative to “level the field.”
    My questions are: 1) Is the proposed 0.01% tax on transactions equitable given the myriad of business expense deductions that Wall Street gets?
    2) Would investors claim the 0.01% transaction tax as a business expense and deduct it from their tax obligation?
    3) Would a higher tax rate against a lesser tax deduction be doable?
    Thank you and saludos, Rolando


  2. Michael M. T. Henderson
    January 18, 2015 @ 6:23 pm

    It will never pass a Red House/Red Senate, but it should make a wonderful campaign issue for 2016. Ordinary people who don’t trade on the stock markets need to made aware of this issue. My family has enough dough to trade on the NYSE, but we would gladly pay a tiny transaction tax to help our less fortunate countrymen.


  3. M.
    January 18, 2015 @ 8:22 pm

    Thank you for keeping us informed about issues important to middle class Americans. Please Keep it up!!!


  4. Therese LePage
    January 20, 2015 @ 12:42 pm

    Other transactions are taxed, so it is fitting that these transactions, highly impactful to our economy in a potentially disastrous way, need to be taxed. Revenue in the hundreds of billions is a great start to bring strength to our country.


  5. Ben J. Friedman
    January 25, 2015 @ 2:18 am

    To Public Citizen:

    It also would be a great idea to use some of this money to pay back all of the millions of dollars that the U.S. government, during previous Republican and Democratic administrations, has borrowed from the Social Security Trust Fund. Resolution of both of these issues is long overdue.

    Ben Friedman


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