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Letter writer in error

February 23, 2012
U.S. Sen. Tom Harkin, Cumming , Times-Republican

A recent letter had the facts wrong on a Wall Street transaction tax I introduced in November with Representative Peter DeFazio (D-OR). The Wall Street Trading and Speculators Tax Act proposes a 0.03 percent tax on financial transactions (for example, 30 cents on a $1,000 transaction) and will generate an estimated $352 billion between 2013 and 2021. The tax would be applied to stock, bond and complex financial trading, not to personal transactions such as cashing a check, buying a good or service, or paying a bill online.



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