The top 1% of Americans by wealth own 50% of stocks, worth $23 trillion; the top 10% own 90% of all stocks and the lower 90% (all 297,000,000 of us) own just 10%. These assets generate unearned income that receives favorable tax treatment unlike the wages of workers. The structural inequality of our economy and our society creates instability, loss of productivity, lack of upward mobility and needless misery and waste. 

In addition, unlike the post-war prosperity of the 1950’s and 60’s when a single income easily supported a family, over the last 50 years, US corporations through monopsony,  wage theft and wage suppression (1974 through 2024); despite significant increases in productivity, kept workers wages the same in relative terms (adjusted for inflation) while collectively management received unjust enrichment of at least $50 trillion. 

The Fair & Square 1% Tax on Shares would, by federal statute, mandate a transfer tax of 1% on every transfer or sale of all stocks, options, bonds, derivatives, and securities. The proceeds would be immediately sequestered and promptly remitted to an independent public trust fund (not a government agency - not under jurisdiction of the executive branch). The National Citizens Fair & Square Tax Trust Fund would make equal  quarterly disbursements to every U.S. citizen on a per capita basis. Children’s payments would be held in a spendthrift trust untouchable until age 18 and would not be accessible to parents. All federal tax for unearned income would be witheld automatically, subject to filing income  tax returns which would also benefit the general treasury. No federal funds would be used for administration of the trust fund. 

In addition to benefitting all children by giving them a guaranteed nest egg for education or entrepreneurial start up, disability recipients on SSI and SSDI would benefit by designation of their accounts as special needs trust funds that do not diminish their benefits so they don’t have to scrape by hand to mouth on $850 per month. Recidivism of felons and parolees would be significantly reduced since during incarceration the prisoners would receive payments to be held for disbursement upon their release so they would have a safety net and financial cushion rather than dire straits that drive them back to criminal behavior. Homelessness would be greatly reduced as most unhoused people end up without shelter due to personal or family crisis. Bankruptcy, eviction  and default on credit would reduced and home ownership would be more accessible to working people who could save money on interest rates and improved their credit scores. Moreover it would obviate the need for Universal Basic Income (UBI). 

The 1% transfer tax on stocks, bonds, options, derivatives and securities would  provide so many benefits to so many people who are presently underserved, whose rights are unrecognized (children) and many who are one paycheck away from disaster at zero cost to the government, the tax payers or future generations. The cost to the individuals paying the taxes is so modest as to de minimis in relation to the benefits. The tax is also equitable - a very small cost to redress a very large inequity of unjust enrichment and structural inequality. Moreover, the ultra rich’s wealth hoarding and the consumer capitalist economic system are left intact so the remedy is painless and balance is restored without class struggle or warfare