Sen. Bernie Sanders Proposes Tax on Wall Street Speculation

May 24, 2019

Meanwhile, Vermont Senator Bernie Sanders has unveiled a bill that would apply a small tax on Wall Street transactions in order to raise hundreds of billions of dollars for social programs. The legislation would tax stock, bond and derivatives trades in order to fund job creation, Medicare for all, free public college, environmental and climate change programs, housing assistance and HIV/AIDS treatment and prevention. The bill was co-sponsored in the House by Democrat Barbara Lee of California.

Rep. Barbara Lee: “With just a fraction—and this is a very modest proposal—a fraction of a tax on Wall Street, we can raise over $220 billion per year. That’s $2.2 trillion over 10 years. And just think of what we could do with those resources and with that money.”

The bill has the backing of another 2020 presidential contender, New York Democratic Senator Kirsten Gillibrand. On Wednesday, Gillibrand proposed a “Family Bill of Rights” that would see the U.S. invest more in maternal and child health, paid family leave, affordable child care and universal pre-K.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s