August 28, 2007
A Capital Tax Idea
2006 Wall St bonuses; $25 Billion
As the big boys on Wall Street direct trillions in capital flows to derivatives, rank speculation and the latest hot packaged products like sub-prime mortgages they whet their beaks, like the mob, at every turn.
Why not place a one one hundreth of a per cent tax on these flows to fund social security and health care.
It would be a manifest boon to American workers who toil at multiple jobs to create this capital and keep the economy going.
ps. I mentioned this idea to a staunch corporate conservative friend who said the idea is 100% valid; but without a guaranteed mechanism that the Dems would not keep increasing the tax, it was dead on arrival.