/PRNewswire/ NYPPEX, one of the world s leading providers of secondary private equity liquidity, today announced its Guide to Financial Transaction Taxes.
No matter how you approach renewed calls for Congress to impose a Financial Transaction Tax (FTT), it would be a huge mistake for Main Street, consumers, taxpayers, retirees, states, and localities.
An FTT, which is a sweeping tax on financial trades of all kinds, such as trades of stocks, bonds, and derivatives, is not a new idea. In fact, the U.S. imposed an FTT from 1914 until it was repealed in 1965 by an overwhelming bipartisan vote by a Democratic Congress.
The truth is that Americans, in an overwhelmingly bipartisan fashion, are deeply concerned and opposed to proposals to re-impose an FTT. The U.S. Chamber of Commerce’s Center for Capital Markets Competitiveness (CCMC) recently conducted a national poll of 2,000 likely voters to understand their views on a proposed FTT. When they learned about an FTT, 63% expressed opposition, including a majority of Democrats, Independents, and Republicans. Finding such broad support among all political leanings is nearly unheard of in t