• Petitioned United States Congress

This petition was delivered to:

United States Congress

Pass a 1% Wall Street Sales Tax

    1. Petition by

      United Front Against Austerity

The fiscal problems of the United States are largely due to the fact that Wall Street pays no taxes. Like the nobility in France before the French Revolution of 1789, the zombie bankers and hedge fund hyenas do not contribute to the public treasury. The total turnover in terms of buying and selling of securities, including stocks, bonds, and derivatives on US exchanges is surely in excess of five quadrillion dollars (5,000 trillion dollars). A 1% tax on this turnover, equally divided between the federal government and the states, largely solves the budget deficit at all levels of government. It also discourages the most dangerous forms of speculation, especially derivatives speculation, and helps to level the playing field between financial services – which are now in effect subsidized because they are not taxed – and the tangible, physical production of manufactured goods on which our economic survival depends.

This tax must be a full 1%, with an allowance for normal household investment. HR- 6411, introduced by US Representative Keith Ellison (MN-5) provides an ideal template for legislation, but must be strengthened, with derivatives and other securities taxed at 1% to discourage predatory speculation.

To:
United States Congress
Pass a 1% Wall Street Sales Tax

Sincerely,
[Your name]

Recent signatures

    News

    1. Reached 750 signatures

    Supporters

    Reasons for signing

    • CHris Roam MEDIA, PA
      • 6 months ago

      I am tired of all these companies not paying taxes and desiring handouts that I have to pay for with my taxes. At the same tine we can't pay unemployment to jobless citizens and nor can we help the 20% percent of people living in poverty.!! Our policies are really screwed up. We are a country that can't help hungrey citizens, we can't give help to our veterans when they come home from war and we can't properly educate our children.

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    • Steven Cedeno BUFFALO, NY
      • 6 months ago

      "Making money" is often the excuse for criminal behavior. Not taxing Wall St.'s manic gambling racket with endless Federal Reserve bailouts only encourages destruction of great opportunities to invest in Main St.'s world of tangible, productive, serviceable economic activity.

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    • Susan Baird CLARKSTON, MI
      • 7 months ago

      This country needs to RAISE REVENUE, equitably.

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    • Beth Napier OAKLAND, CA
      • 8 months ago

      ALL segments of our financial society MUST contribute to the economic stability of our nation. A 1% tax is not onerous, yet such a tax would truly alleviate much if not all of our national fiscal responsibilities!

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    • Jon Gray PORT ADELAIDE, AUSTRALIA
      • 8 months ago

      Personally I think 5% would be better

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