Congressman Keith Ellison Introduces Bill to Tax Wall Street: "The Inclusive Prosperity Act" (H.R. 6411)

Rep. Keith Ellison (D-Minn.) has introduced legislation that he asserts would raise billions to invest in our economy by taxing highly speculative financial transactions. The Inclusive Prosperity Act (H.R. 6411) would tax the sale of stocks, bonds and derivatives sold by Wall Street firms. The tax imposed would be 0.5 percent on stocks, 0.1 percent on bonds, and 0.005 percent on derivatives or other investments.

The press release announcing the bill is titled "Taxing Wall Street to Restore Main Street." Jean Ross, a registered nurse and co-president of National Nurses United, is quoted in the press release as being in favor of the bill.

View press release in full here (links externally to Congressman Ellison's site).