Financial Transaction Tax is very low-bar test for Obama

December 17, 2011 | By | Reply More

From Huffpo:

Advocates of a tiny but lucrative tax on financial transactions are increasingly hopeful that President Barack Obama’s need to more firmly establish himself as the Main Street candidate in 2012 will lead him to back the measure.

The tax — though nearly inconsequential on a per-trade basis — would reap billions in revenue from Wall Street’s most rapacious institutions while also cutting down on their incentive to engage in the high-stakes, lightning-fast gambling that has proven particularly lucrative for them, at the expense of others.

If Barack Obama fails to vigorously support this tax, he should change his campaign slogan to “No Hope. No Change.”

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Category: Economy, Politics

About the Author ()

Erich Vieth is an attorney focusing on consumer law litigation and appellate practice. He is also a working musician and a writer, having founded Dangerous Intersection in 2006. Erich lives in the Shaw Neighborhood of St. Louis, Missouri, where he lives half-time with his two extraordinary daughters.

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