April 25, 2013 in Social & Economic Justice
From the Green Party of the United States:
WASHINGTON, DC — The Green Party of the United States is calling for passage of legislation to impose a “Wall Street transaction tax,” which will stabilize the stock market, discourage reckless ‘casino’ trading, and generate revenue.
Green Shadow Cabinet: http://www.greenshadowcabinet.us
Rep. Keith Ellison’s (D-Minn.) has introduced such a bill, titled the “Inclusive Prosperity Act” (http://ellison.house.gov/index.php?option=com_content&view=article&id=907&catid=86).
As Ralph Nader noted in his endorsement of the bill, “A small financial transaction tax of 0.5 percent or less – depending upon the financial instrument being taxed – could produce hundreds of billions of dollars annually, perhaps as much as $350 billion. This revenue could be generated from a tax that would be minuscule – half a penny or less on each dollar of the transaction value.” (https://www.facebook.com/ralphnader/posts/559074687456801) Read the rest of this entry →