A 0.005% financial speculation tax -- a "pinprick" for international banks -- would be an important stream of revenue for domestic and global development initiatives.
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The Investing in Our Future Act would place a tiny levy on a market most Americans don't even think about -- the foreign currency exchange market, where one currency is exchanged for another.
It's time to tax the type of speculation that helped to worsen the recent financial crisis and which serves no purpose other than making a few people and institutions even richer.
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