As we get older, and hopefully wiser, we generally start to become more discerning on how we view the world and the problems we face. Many of us who seek to make the world a better place try to look at the problems, analyze them, and do what we can to correct them. However, because there are so many different problems facing us, this approach often overwhelms us and can instill a sense of hopelessness in our ability to create positive change. Looking more deeply into this situation, we discover that many of these difficulties are SYMPTOMS of much deeper problems, and that attempts to address these SYMPTOMS are not an effective or efficient way to bring about the changes we desire.
Wall Street Tax
By Sarah Anderson for Inequality - The Democratic Party Platform Committee has taken a position in support of a tax on Wall Street transactions, according to a statement by committee member Rep. Keith Ellison. This is just the latest sign of the mainstreaming of a bold policy that would shrink the size and power of Wall Street. Even at a rate of just a small fraction of a percent on each trade, such taxes would slash the profitability of the high-speed speculation that dominates our financial markets but has no real economic value. At the same time, the tax could generate massive revenue for job creation and other urgent needs.
The Robin Hood tax, a small tax of less than ½ of 1% on Wall Street transactions can generate hundreds of billions of dollars each year in the US alone. It is an idea whose impact can be felt globally as well.