• Home
  • News
    • Politics / Govt
    • Legislature
    • Crime / Courts
    • Health / Medicine
    • Archives
  • Sports
    • Badgers
    • Packers
      • Titletown Report
    • Brewers
  • Contact Us
    • Reporters
  • Affiliates
    • Affiliate Support

Wisconsin Radio Network

Wisconsin News and Sports

You are here: Home / Business / Using Wall Street to fix main street

Using Wall Street to fix main street

December 4, 2009 By Brian Moon

Congressman Steve Kagen (D-Appleton) is involved with a bill that would add a fee to Wall Street trades. A transfer fee of .25 percent would be tacked onto transactions done by speculators. He believes it’s a chance for financial groups to return the favor of being bailed out by tax payers. Kagen says the revenue generated from these “socially useless trades” would be used to pay down the national debt and reinvest into America’s infrastructure.

The fee would be exempt for non-profits, people with pensions and 401K funds, and for the first $100,000 of trading.

The Wisconsin Republican Party criticizes the proposal saying it will increase the cost of credit; dampen hopes of economic recovery as jobs leave; and cause diminishing returns on investments like 401K retirement savings. The GOP claims House Democrats are divided on the issue.

Brian Moon reports (:62)

kagobva120509

Share this:

  • Facebook
  • Twitter

Filed Under: Business, Politics / Govt



Featured Stories

Future of abortion in Wisconsin hinges on SCOTUS ‘Roe’ decision

Juvenile arrested in connection with death of Lily Peters

Missing Chippewa Falls girl found dead, police seek suspect

Medical marijuana legislation gets public hearing at Capitol

Tommy Thompson announces he will not run for governor

TwitterFacebook

Sports Headlines

Giannis breaks franchise scoring record, Bucks beat Nets in OT

Wisconsin’s Davis declares for NBA Draft

Badgers to face Arizona State in Las Vegas Bowl

Williams likely out for the season with broken hand

Packers releasing TE Jace Sternberger

More Sports

Tweets by @WRN

Get our news delivered to your inbox:

Enter your email address:

Delivered by FeedBurner

Copyright © 2022 · Learfield News & Ag, LLC