BB's Stock Haven

[Kdub]

Yeah read this article:

http://industry.bnet.com/financial-services/10005317/small-traders-fear-a-transaction-tax-would-wipe-them-out/

Heres a little more:

What both sides want to know, of course, is will any of these ideas pass muster in Congress. A source I spoke with in Washington put the chances at less than 20 percent, adding that “the votes just aren’t there” in the Senate.

One major roadblock is likely to be lawmakers from New York, including House Ways and Means Committee Chairman Charles Wrangel and Senate Banking Committee member Charles Schumer. Clearly, their financial industry constituents oppose a tax. Treasury chief Tim Geithner also has come out against it, suggesting that the White House is cool to the idea.


So basically it has little chance of passing the senate and the white house doesn't seem to keen on the idea.