Financial transaction taxes spread pain throughout the economy and hurt everyday investors, especially retirees.

MFA continues to emphasize the negative consequences of a financial transaction  tax  (FTT),  which  would ultimately be paid for by the 26 million teachers, firefighters, police officers, and other American workers who rely on pensions for their retirement income. Pensions and other organizations like charitable foundations and hospital endowments rely depend on alternative investments to provide returns in all market conditions.  An FTT would reduce liquidity and asset values for all investors, increase the cost of credit to businesses, and negatively affect economic growth.