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tazzygirl -> Robinhood Bill (11/25/2012 5:24:32 PM)
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I cant seem to find this mentioned anywhere, but the idea may have gotten lost during the elections.
H.R. 6411: Inclusive Prosperity Act
http://www.govtrack.us/congress/bills/112/hr6411
OFFICIAL SUMMARY
This summary was written by the Congressional Research Service, a nonpartisan arm of the Library of Congress. GovTrack did not write and has no control over these summaries.
9/14/2012--Introduced.
Inclusive Prosperity Act - Amends the Internal Revenue Code to:
(1) impose a tax on the transfer of ownership in certain securities, including any share of stock in a corporation, any partnership or beneficial interest in a partnership or trust, any note, bond, debenture, or other evidence of indebtedness (excluding tax-exempt municipal bonds), or derivative financial instruments; and
(2) allow an individual taxpayer whose modified adjusted gross income does not exceed $50,000 a tax credit for the amount of tax paid on financial transactions under this Act.
quote:
Rep. Keith Ellison (D-Minn.) has introduced legislation that would raise billions to invest in our economy by taxing highly speculative financial transactions.
The Inclusive Prosperity Act (H.R. 6411) would tax the sale of stocks, bonds and derivatives sold by Wall Street firms. The tax imposed will be 0.5 percent on stocks, 0.1 percent on bonds, and 0.005 percent on derivatives or other investments.
http://ellison.house.gov/index.php?option=com_content&view=article&id=907&catid=86
Thoughts?
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