The intensity with which the country’s leading deficit hawks continue to ignore financial speculation taxes (FST) is getting ever more entertaining . . .

The refusal of this group to consider FST is becoming more striking because most of the world appears to be moving in this direction. Last spring, the European Parliament voted by an almost four to one margin in support of FST . . . 

Even with the low tax rates being considered by the commission (e.g. 0.05 percent in each side of a stock trade), it is estimated that an EU-wide tax could bring in as much as $60 billion a year. Read more . . .