Note: This response is authored by CPEG’s Bill Barclay in response to a February 16th Editorial in the Chicago Sun-Times regarding the potential for a “LaSalle Street Tax”, a very small tax on the trading of financial assets. You can download a full Q&A on the Lasalle Street Tax here.
First they ignore you, then they laugh at you, then they fight you…
…and then you win.
The gathering momentum behind the LaSalle Street Tax (LST) is moving us through Gandhi’s stages faster than we expected. The most recent evidence that this momentum can no longer be ignored comes from the Sun Times February 16th editorial, which endorses such a tax in principle. While attacking the proposed level of the LST, the editorial says “a very small Chicago tax might make sense.”