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Which Is Better or Worse: The Financial Transaction Tax or the Capital Gains Increase?


On the Table
Washington Democrats are considering two motions to boost investment-related revenues. One is a financial transaction tax, or FTT, which would apply to the transactions of stocks, bonds, and derivatives. (Whether the FTT would exempt purchases and redemptions of funds that own such securities is unclear.) The other proposal, touted by President Biden during his speech to Congress, is to hike the capital gains rate on taxpayers who earn more than $1 million.
The FTT is a recycled regulation. From 1914 through 1966, the United States imposed a transfer tax on equity sales that was significantly above the current proposal s amount. In contrast, while the capital gains rate has fluctuated, it has never exceeded 35%, and reached that level only briefly. The president s suggestion goes where the U.S. has not yet been. ....

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Student wins scholarship then uses savings to help someone else


Student wins scholarship then uses savings to help another student go to college
Joshua Nelson had been saving for college but when he earned a scholarship, he decided to use his savings to help another student go to college
Author: Mike Bush (KSDK)
Updated: 8:05 PM EDT May 4, 2021
ST CHARLES, Mo. At St. Charles West High School, one of the best teachers may just be a student.
He just has a heart for people, said Yolanda Curry, the school counselor.
Joshua Nelson, 18, is getting ready to graduate.
I plan to go to Southeast Missouri State and go into their pre-optometry program. I ll be majoring in bio-medical sciences, he said. ....

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Student wins scholarship then uses savings to help someone else


Student wins scholarship then uses savings to help another student go to college
Joshua Nelson had been saving for college but when he earned a scholarship, he decided to use his savings to help another student go to college
Author: Mike Bush (KSDK)
Updated: 11:19 PM EDT May 2, 2021
ST CHARLES, Mo. At St. Charles West High School, one of the best teachers may just be a student.
He just has a heart for people, said Yolanda Curry, the school counselor.
Joshua Nelson, 18, is getting ready to graduate.
I plan to go to Southeast Missouri State and go into their pre-optometry program. I ll be majoring in bio-medical sciences, he said. ....

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