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View Diary: New America Foundation says don't cut Social Security, expand it (62 comments)

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  •  Place a Sales Tax on Wall Street. (14+ / 0-)

    The fiscal problems of the United States are largely due to the fact that Wall Street pays no taxes. While working families pay on average 7% in sales tax for the necessities of life, Wall Street speculators pay no tax on a yearly turnover of over $5 quadrillion (5,000 trillion dollars) in derivatives, futures, stocks, bonds and other securities on US exchanges. A 1% sales tax on this turnover, equally divided between the federal and state governments, largely solves the budget deficit at all levels of government.

    We ask you to put the Wall Street Sales Tax squarely on the table, to use the power of your office to mobilize the congress for this tax, and to fight for the American people against the interests of Wall Street speculators.

    •  For real. (1+ / 0-)
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      Calamity Jean

      If I've got to pay tax on a pack of smokes or a stick of chewing gum, they should pay for their crazy transactions.

      But that would make sense. Can't have that in DC.

      The Grand Bargain must be stopped at all costs to protect the 99%.

      by cybrestrike on Thu Apr 04, 2013 at 07:09:15 AM PDT

      [ Parent ]

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