A financial transaction tax would impose a small (1/10-1/2 of 1 percent of total value) tax on all sales of financial instruments such as stocks and bonds. The Center for Economic and Policy Research estimates that such a tax could generate $100 billion annually, while the Chicago Political Economy Group estimates that this tax would have raised between $750 billion and $1.2 trillion each year from 2005 to 2009. The United Kingdom has had a similar tax in place since 1986 with no significant economic drawbacks, and similar regimes exist in Peru and Colombia. The US had a tax on stock transfers from 1914 to 1966.
This is historical material “frozen in time”. The website is no longer updated and links to external websites and some internal pages may not work.
