FIT

Senator Sanders is proposing a financial transaction tax (FIT) of one half percent on all market transactions. This is estimated to bring in $220 billion dollars per year. There is about $30 trillion in the market and $28 trillion in retirement plans so most of this tax will be taken from retirement accounts. While having the government taking money directly from retirement accounts it is still a no no for most people, these same people may not realize what happens with the FIT.