Originally posted by Sugar Adam Ali
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Congress will soon be back from recess – and back to gnashing its teeth over the budget and the various important things that, too many in that branch of government now assert, our country can no longer afford to do. One way to enlarge their sense of the possible: consider a source of revenue they have so far largely ignored – a small tax on sales of stocks, bonds, and complex financial instruments.
How small? Really, really small. A bill co-introduced by Sen. Tom Harkin, D-Iowa, and Rep. Peter DeFazio, D-Ore., calls for a tax of 0.03 percent – that's 30 cents per $1,000. Yet even at that exceedingly modest level, a Wall Street speculation tax (also known as a financial transaction tax or FTT) would generate more than $350 billion over the coming decade, according to a non-partisan analysis of similar legislation introduced in 2012.
How small? Really, really small. A bill co-introduced by Sen. Tom Harkin, D-Iowa, and Rep. Peter DeFazio, D-Ore., calls for a tax of 0.03 percent – that's 30 cents per $1,000. Yet even at that exceedingly modest level, a Wall Street speculation tax (also known as a financial transaction tax or FTT) would generate more than $350 billion over the coming decade, according to a non-partisan analysis of similar legislation introduced in 2012.
It's not like this is the first time this idea has been talked about.
It is definitely time for Sanders to transition from just trying to get his message out to actually explaining it in detail, but it's not as if he doesn't know what his plans are.
http://www.sanders.senate.gov/downlo...y/?inline=file
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