Economist: Financial Transactions Tax Would Bring in Hundreds of Billions a Year

The debate in Congress for ways to curb the national debt has centered around the same proposals for years: spending cuts, raising taxes, lowering taxes, stimulus spending. But another new old idea has also been floated: a financial transactions tax.

An FTT, as it is often called, is a small tax on various types of financial transactions from stock trades to foreign currency exchanges.

To learn more about FTTs, host Carmen Russell-Sluchansky spoke with political economist and author of “Obama’s Economy: Recovery for the Few” Jack Rasmus, who is a proponent of instituting a new FTT.

 

About Carmen Munir Russell-Sluchansky 360 Articles
Carmen is a multimedia journalist based in Washington, DC whose work has appeared in a variety of outlets including National Geographic, NBC News, the BBC, Asia! Magazine, The China Post, Chicago Tribune and Orlando Sentinel.