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impose a sales or transaction tax on all sales of stocks and bonds.

Created by C.S. on December 06, 2012

This would operate as a percentage of the sale value of the security, stocks or bonds, just as a sales tax is calculated as a percentage of the value of the goods or services sold. The US has had such a tax several times in the past, under Lincoln, McKinley, and FDR. The last version wasn't rescinded until 1964 under LBJ because it was bringing in more money than was needed to run the SEC. Many other nations, including the UK have such a tax so it would not uniquely disadvantage Wall Street. I do not represent any group or organization.

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