Make Wall Street Pay - Support a Financial Transaction Tax



Everyday Americans have shouldered the burden of the economic collapse brought on by Wall Street’s wild speculation and greed.
 
Those responsible for the economic collapse should be sitting in a jail cell, instead of roaming the halls of Congress seeking special favors. The bankster-gangsters are particularly upset over a financial transaction tax (FTT), and have used their sway to stop the regulation necessary to ensure stable markets. An FTT would charge a very small tax (0.5%) on each speculative transaction; average investor and pension funds are exempted.
 
Three years after the economic crash, Wall Street has completely recovered, and low and middle-income Americans are still suffering:
  • People are still losing their homes to foreclosure. More than 2 million homes were in foreclosure in 2009 and 2010, at a cost of $6.3 trillion dollars in declining home values. At least that many more foreclosures are expected in 2011.
  • Businesses and individual bankruptcies are way up. In 2007, 850,912 bankruptcies occurred. In 2010, that figure almost doubled to 1,1593,081. (In 2005, a new law passed making it more difficult to file for bankruptcy.) 
  • The real unemployment rate is 23%, which disproportionally effects minority and young workers. 
  • According to the Census Bureau, poverty is on the rise, again. 46.2 million Americans live in poverty. See the report here, page 14. 
  • Almost 50 million Americans have no health insurance
  • The cost of a college education surged in the last three years, after steadily rising for the past 20 years. Federal aid for college educations has failed to keep up and is targeted for budget cuts
Tell your senators and representative to support a financial transaction tax, instead of cutting the programs that help low and middle-income families.
 
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