Les Leopold
A Tobin Tax on all Wall Street financial transactions also would move money from the financial sector to the real economy. A small fee would have almost no impact on 99 percent of Americans who invest long term for retirement or to pay for college. But the fee would dramatically impact the largest speculators who make billions of dollars worth of trades each day without creating one iota of value for the real economy. A Tobin tax could easily generate $50 billion a year for deficit reduction or job creation.
To put our people back to work we need to escape from the old debates. In our new billionaire bailout economy, jobs will be created when we directly create them and not before. Banks won't create them, nor will businesses until after the economy is humming again.
If we want to reduce our national debt, we need the super-rich and Wall Street to pay their fair share.
http://www.huffingtonpost.com/les-leopold/stimulus-versus-debt-redu_b_373673.html
A Tobin Tax on all Wall Street financial transactions also would move money from the financial sector to the real economy. A small fee would have almost no impact on 99 percent of Americans who invest long term for retirement or to pay for college. But the fee would dramatically impact the largest speculators who make billions of dollars worth of trades each day without creating one iota of value for the real economy. A Tobin tax could easily generate $50 billion a year for deficit reduction or job creation.
To put our people back to work we need to escape from the old debates. In our new billionaire bailout economy, jobs will be created when we directly create them and not before. Banks won't create them, nor will businesses until after the economy is humming again.
If we want to reduce our national debt, we need the super-rich and Wall Street to pay their fair share.
http://www.huffingtonpost.com/les-leopold/stimulus-versus-debt-redu_b_373673.html
