Financial service industry needs to pull its weight in budget crisis

A lot of taxes have been proposed lately – sales taxes, property taxes, income taxes – as the state’s budget stalemate grinds on and the city’s financial crisis metastasizes.

But the powers that be have taken one tax off the table, a financial transaction tax. It would target the very wealthy – the only ones in recent decades benefiting from economic growth.

A small tax on trades on Chicago’s futures exchanges could raise billions of dollars, and traditional traders...

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