No Cuts. Tax Wall Street.
When reckless trading on Wall Street crashed the global economy, American taxpayers bailed out the big banks to the tune of $4.7 trillion. That is trillion with a “T”. (See resource below.)
Today, Wall Street is booming. Goldman Sachs, Morgan Chase, and Wells Fargo executives are earning as much as they did before the financial crisis. In 2010, the CEOs of these three banks made $52 million dollars combined.
Yet on Main Street, family incomes are tanking, job creation has stalled, and 42 million people are living in poverty -- more than at any time in the last 50 years.
We have done our part, now it’s time for Wall Street to do more – through a tiny sales tax on each Wall Street trade. It's called a financial transaction tax (FTT).
Right now Congress is considering huge cuts to Medicare and Social Security, as well as other important programs in health, education and housing.
Enough is enough! We know where the money is. It’s time for Wall Street to start Paying US Back! A tax on financial services can generate billions of dollars.