A federal tax on every transaction on the stock exchanges in the United States—and thereby the individuals and corporations who trade. The amount would be determined by how much is needed to eliminate our deficit.
Why is this important?
This would be a very simple but effective way to put the burden of economic recovery directly on the institutions and individuals who caused our problem—Wall Street.
The current protests against big banks and rich people have nothing to offer except frustration. If they adopted this plan as a cause, they could actually contribute something positive—something that would work.
