The Deficit-Reducing Potential of a Financial Speculation Tax
Publication Date: January 2011
Publisher(s): Center for Economic and Policy Research
Author(s): Dean Baker
Keywords: budget deficit; tax; Wall Street; transactions tax
Coverage: United States
While a number of commissions and organizations around Washington have produced plans for reducing the projected deficit in the decades ahead, most have not included a financial speculation tax (FST) in the mix. This seems peculiar since an FST has several features that could make it attractive as a revenue source.