How can the federal government generate a lot of money for such things as health care and jobs, while not harming the middle class or the poor?
Through a speculation tax, that’s how. It’s a tax on trades of stocks, derivatives and other financial instruments – the things the wealthiest Americans trade the most. Just a quarter-percent tax on these things could raise $100 billion a year. That’s not chump change.
Public Citizen’s president, Robert Weissman, explains the benefits in a piece that ran today in The Hill.
It is, he says, one of the big ideas of the coming year.
Rick
Looks like America agrees: http://www.bloomberg.com/apps/news?pid=20601087&sid=awkrRPMONDW8&pos=9
December 10, 2009 at 3:27 pm
james d.
Relying on Congress to reform itself is about as good an idea as relying on an addict to stop doing drugs when s/he has an unlimited supply.
The only way to true reform is to get constitutional amendments passed by 3/4 of the states.
First. should be a one subject rule for legislation. No more pork hidden in a bill or used to barter for votes on a bill. The bill has one subject, and is subject to being struck by the Supreme Court if superflous add-ons get tacked on in the legislative process.
Second. No more sole source no bid contracts.
Third. If a lobbyist gives something worth more than a cup of coffee to a Congressperson, the lobbyist must give it to all Congresspersons equally, and report it to an OMbudsman, or face criminal prosecution by an outside agency, as does the member of Congress who accepts the gift.
December 31, 2009 at 9:00 pm