Tax the traders.

AuthorPeters, Charles
PositionTILTING at windmills

John C. Whitehead, a retired cochairman of Goldman Sachs, has called Wall Street pay levels "shocking." Unfortunately, almost all of his former colleagues disagree. But I have a solution to this problem: make the tax on income derived from trading 50 percent higher than the tax on other income. Trading does not create or...

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