Hedge Fund News From HedgeCo.Net


Democrats Target Wall Street With Financial Trade Tax Proposal

HF
(Bloomberg) Wall Street would bear the brunt of the latest tax proposal as Democrats jockey for the most progressive tax ideas with the approach of the 2020 elections. Senator Brian Schatz, a Hawaii Democrat, is working on a plan that would tax financial trades, according to his spokesman, Michael Inacay, who declined to provide details on how, exactly, it would be structured.

Financial transaction taxes typically place a levy of a fraction of a percent on the price of a securities trade. The idea has gained popularity within the Democratic Party as a way to curb high-frequency trading as well as raise revenue for progressive policies such as free college tuition.

To read this article:

Related Posts Plugin for WordPress, Blogger...
This entry was posted in Syndicated. Bookmark the permalink.

Leave a Reply