Opinion | Sanders’s Tax Would Hit Small Investors

From WSJopinion: Sanders’s proposed financial transaction tax could reduce retirement savings by as much as 8.5%, writes Fred Hatfield

The week's best and worst from Kim Strassel, Kyle Peterson, Allysia Finley and Jillian Melchior. Image: Jack Kurtz/Zuma WireI share my fellow Democrats’ concerns about income inequality and the need for a fairer tax system.

But the presidential candidates would do well to drop one of their talking points: a financial transaction tax. Sen. Bernie Sanders has long supported an FTT, which he calls a “tax on Wall Street speculation.” Sen. Elizabeth Warren has also endorsed the idea. But former Vice President Joe Biden says it would “impact investments held by middle-class Americans.”

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