Just one week ago Berkeley professor Robert Reich made some ripples on Wall Street, releasing his latest informative video discussing a financial transactions tax – or FTT.
Among the benefits, according to Reich, imposing an FTT would help reduce “incentives for high-speed trading, insider deal making and short-term financial betting.” He argues that opposing pundits say that it will push business offshore.
The reason for the pushback, he continues, “because a financial transactions tax directly threatens a major source of Wall Street’s revenue and if you haven’t noticed, the Street uses a portion of its vast revenues to gain political clout.”
Check out his video:
Should Wall Street transactions be taxed? What do you think?
Read more by Wall St. Whisperer
