A 0.03% transaction tax on stocks, futures, swaps and other derivatives would increase the cost of financial

摘要

A 0.03% transaction tax on stocks, futures, swaps and other nderivatives would increase the cost of financial transac-ntions, decrease volumes and make risk-based derivatives ntrading and high-frequency trading unprofitable, according nto the CONGRESSIONAL BUDGET OFFICE. In a letter sent nDecember 12 to Senator Orrin Hatch, a Utah Republican nand the ranking member of the Senate Finance Committee, nCBO Director Douglas Elmendorf outlined a litany of con-nsequences — but few benefits — the tax may have.