Katrina vanden Heuvel called the Wall Street Sales Tax an idea whose time has come. Robert Reich urged Obama to make it the defining issue of his second term. We agree! Stop waiting for the sheriff to arrive and hit Wall Street where it hurts most - in the wallet! A 1% Wall Street Sales Tax on stocks, bonds, futures, options, derivatives (notional value) and other securities would: 1. Solve all federal and state budget crises 2. Generate in excess of $1 trillion/year in revenue 3. Suppress the riskiest forms of speculation 4. Score a major blow to the enemies of Main Street, and give the good guys enough political momentum to begin the process of rebuilding New Deal America. Alexander Hamilton, the architect of America’s First National Bank, proved that a national debt, if not excessive, is a great advantage to a modern nation. A sustained economic recovery requires a source of credit which can be neither zombie banks nor the federal budget. - See more at: againstausterity.org/FED#sthash.wwvSnOWp.dpuf
Posted on: Sat, 24 Jan 2015 02:19:38 +0000
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