Breaking News:The Financial Transaction Tax Will Hit the Average Montana Citizen | Columnists

Breaking News:The Financial Transaction Tax Will Hit the Average Montana Citizen |  Columnists

The financial transaction tax is a tax on any buying, selling and trading that occurs in the stock market. Yet, this seemingly simple tax will have wide-reaching effects. Education savings accounts, 401ks, pensions, and everyday folks looking to invest their hard-earned savings in the stock market will be heavily taxed for doing a common and responsible fiscal practice. Wall Street can afford these taxes and still continue to make money while most average Americans can’t, and their retirement could be postponed. While this proposed idea seeks to hit Wall Street to pay for critical government programs, the financial transaction tax will subsequently hurt the average Montanans who have been struggling throughout the pandemic. In fact, it will hurt the average Montanan more than the people on Wall Street. We cannot let this happen. Our constituents do not deserve it.

Source missoulian.com

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