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February 24, 2017

The Hill: MMI CEO Op-Ed – Night of the living tax: It’s time to bury Ellison’s Inclusive Prosperity Act

MMI CEO Bill Harts writes that Rep. Keith Ellison reintroduced his plan for a financial transaction tax on every stock, bond and derivatives trade in the country. It was the third introduction / reintroduction of the bill, despite previous stalls.  The not-so-collateral damage of this tax will be a reduction in our ability to keep pension promises to our hard-working union members. European press call its financial transaction tax a zombie tax. Here in the U.S., let’s call it what it is: a tax on retirement that needs to be buried once and for all.

READ OP-ED HERE

 

“High-frequency traders provide a vital service to all market participants…HFT helps to create efficient markets by facilitating price formation, lowering the cost of trading and improving the linkage between markets."

BlackRock Viewpoint, June 2011

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