Portside

Congress should immediately pass the Wall Street Tax Act,(A Financial Transaction Tax - FTT), which would tax the sort of high-speed trading that has turned the financial sector into a casino at the expense of our communities.

“As someone studying the economics of this, I can say that a financial transactions tax is a policy no-brainer,” Lynn Stout, a professor of corporate law at Cornell Law School, said at a Wednesday briefing on Capitol Hill. “It’s all upside, there’s virtually no downside, and it’s astonishing we don’t have one.”