Taxing financial trades has been touted as a panacea for all kinds of global ills. But the latest European attempt to introduce a worldwide standard 40 years after it was first conceived is facing stiff opposition from the U.S. and Britain.
Jose Manuel Barroso, the president of the EU’s executive arm, on Wednesday threw his weight behind the tax that his office estimated could raise $77 billion a year in Europe.
The tax would be a tiny percentage of the value of a trade in assets like stocks and bonds.
News Tribune news services
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