Financial Transaction Tax: European implementation and American imitation?
Momentum is building to reform the US tax system and address the nation’s fiscal challenges. However, options to raise revenue to reduce the deficit and offset a potential decrease in corporate and individual tax rates are scarce. In this environment, there has been renewed interest in tax policy proposals previously considered unpalatable. One such proposal is a financial transaction tax (FTT). The FTT has been catching on internationally, increasing the risk of policy contagion in the US.
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