Wall Street Trading Tax Gets Conservative Group’s Unlikely Tout
- American Compass think tank also urges breaking up banks
- Former Romney aide Cass has vision for post-Trump conservatism
Photographer: Michael Nagle/Bloomberg
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A conservative think tank is throwing its support behind proposals long associated with progressives like Elizabeth Warren and Bernie Sanders: taxing stock trades and breaking up Wall Street investment banks.
Washington-based American Compass argues such measures are necessary to undo the economic damage caused by decades of excessive speculation and not enough sustainable investment. The plan was released Thursday by founder Oren Cass, a former Bain & Co. management consultant who worked on Republican Senator Mitt Romney’s presidential campaigns.