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Democrats want you to stay poor

The wild volatility in GameStop Corp. shares this year has emboldened Democrats who support a tax on stock trades.A financial-transaction tax, or FTT, would raise money by collecting a fraction of the value of securities trades.Proponents say such a tax could help rein in high-frequency trading and excessive speculation. Critics, including Wall Street lobbying groups, say it is a flawed policy that would hurt investors.
Now, with Democrats holding the White House and narrow majorities in Congress, progressives have their best chance in years of enacting an FTT. Potentially, such a tax could be passed without Republican support, using the budget-reconciliation process that allows tax and spending bills to pass the Senate on a simple majority vote.
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