Financial Transaction Tax Debate Heats Up

As the debate regarding a financial transaction tax heats up, Public Citizen has released a white paper that calculates the cost of such a tax to average investors to be “microscopic.” Recent talk about a financial transaction tax has increased, but the seriousness of that talk is in question.  In his most recent budget President Obama included a transaction tax proposal to fund the Commodity Futures Trading Commission, at the urging of outgoing CFTC commissioner Bart Chilton.   Financial transaction tax: Recurring costs The Public Citizen report notes that If an investor allocated the average 401K investment amount, $85,000, towards…