THE SPECTERS OF A FINANCIAL TRANSACTION TAX EXIST…IN AMERICA TOO!

Yet another creative form of financial repression…

During the BFI Inner Circle Briefings in Austin, one of our many well-read attendees asked us the question of whether we had any expectations regarding the suggested “1% transaction tax in America”. While we have been aware of several international governments, particularly in the EU, in favor of some sort of “Tobin Tax“, we had not been aware of any such transaction tax bill or development in the US.

However, we stand corrected. After researching the topic, there does indeed appear to be a bill officially contained in the United States House of Representatives. It is entitled “H.R. 4191: Let Wall Street Pay for the Restoration of Main Street Act of 2009”. It was introduced into the United States House of Representatives on December 3, 2009 to assess a tax on US financial market securities transactions. Its official purpose is “to fund job creation and deficit reduction”.

Go to Story

-----
TIP: American families and individuals seeking the benefits of jurisdictional wealth diversification, asset protection and prudent global investing, find out more about ONE Trust, a complete multi-jurisdictional solution for US persons >>>