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The E-Trade Baby Objects
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On the surface, the 0.03% "Robin Hood" tax on financial trades seems great -- a global tax of a fraction of a penny that wouldn't hurt small investors or anyone that much and would raise money to fix the economic crisis. Great, right? Except this: Do you have mutual funds? Everyone does. You know how many trades go into those? Adds up fast. So you WOULD have to pay. And the real high speed traders would probably move offshore and would avoid the tax. Even liberal politicians are split on the issue; Obama favored it but got talked out of it by then-National Economic Council head Larry Summers. (Fox News)
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