A Financial Transaction Tax: Raising REVENUE and Restraining High-Speed Trading
Now, the fiscal debate has focused attention on the need for new revenue sources. The non-partisan Joint Committee on Taxation calculates that a very small tax on Wall Street financial transactions would raise more than $350 billion over the next decade. Such a tax can curb the growth of dangerous high-speed trading while imposing no more than a trivial cost on traditional investors. Support for the idea is growing.