Wonkblog Doesn't Like Financial Speculation Taxes

That would be the conclusion of folks who played with its interactive calculator on ways to have President Obama reach his deficit reduction target. The calculator includes several possible taxes which it identifies as "the most popular proposals for wholly new sources of revenue." A financial speculation tax is not included on the list. It does include a value-added tax (VAT), which would effectively be a national sales tax.

A bill calling for a financial speculation tax was sponsored last y...