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Democratic Rep. Introduces Bill To Tax Wall Street Transactions On Anniversary Of Occupy Wall Street

Rep. Keith Ellison (D-MN) marked the one-year anniversary of Occupy Wall Street by introducing the Inclusive Prosperity Act (H.R. 6411), a bill that would implement a financial transactions tax. The 0.5 percent tax would be levied on trades of stocks, bonds, and derivatives, and could raise hundreds of billions of dollars in revenue, while slowing down some of the high-speed trading that’s come to dominate Wall Street. “These funds could be used to strengthen America’s families, communities and economy by supporting state and federal investments that improve our health, rebuild our crumbling physical infrastructure, and create good paying jobs,” Ellison said. Forty countries currently have a transactions tax.

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