Tax Wall Street speculation

What we forget often hurts us. Sometimes remembering helps turn the tide.

Establishing a 0.03 percent Wall Street speculation fee, similar to what we had from 1914-1966, would dampen the dangerous level of speculation and gambling on Wall Street, encourage the financial sector to invest in the productive economy and reduce the deficit by more than $350 billion over 10 years.

Senator Bernie Sanders

Wealth for the Common Good, a movement of America’s wealthiest people with a conscience, is calling for the same:

Tax Wall Street Speculation

We, the undersigned investors, business owners and executives, call on the President and Congress to institute a modest federal tax on trades of stocks, futures, credit default swaps, and options. This modest levy would dampen speculation that threatens financial markets while also raising more than $150 billion annually in revenue for the US Treasury.

– See more at Wealth for the Common Good

In the run up to the 2016 national elections, citizen support for re-establishing the speculation fee is one specific way to register voters’ desire for economic fairness and democracy.

– Gordon C. Stewart, Chaska, MN, April 25, 2015.

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