Five years after we bailed out Wall Street, and two years after we took to the streets to demand justice, Congress has done incredibly little to address the problem hollowing out America's promise of upward mobility.
While religious and other nonprofits are organizing new coalitions to join established leaders fighting to preserve the charitable tax deduction, most charities have remained silent about severe cuts in government funding for domestic needs.
Banks are corporations, which are legal entities established under rules written by people. Their existence should advance America and Americans. Not the other way around. Many in Congress need to be reminded of that.
Well, maybe it's time for Wall Street to contribute, rather than siphoning off our wealth. How about a sales tax on all transfers of stocks, bonds, and derivatives in order to fund tuition-free higher education at public institutions?
Of course the IMF event was not without opposition voices. The strongest was Luc Frieden, the finance minister of Luxembourg, where a light regulatory and tax regime has boosted the size of the banking sector relative to GDP to a level similar to that of Cyprus.
The new Rich List is out -- yet another example of financial pornography. While nearly 15 million Americans still can't find jobs due to the Wall Street-created crash, the top hedge manager, David Tepper, earned $1,057,692 an HOUR in 2012.
This is a huge day," Rep. Keith Ellison announced April 17 at a press conference within view of the Capitol, referring to legislation he reintroduced for a Wall Street speculation tax with huge purpose.
Despite all the lasting harm caused by the casino capitalists, the big banks are now bigger, richer and more powerful than they were when they were bailed out in late 2008. The only ones who were punished were the U.S. taxpayers.
Given that the stated goal of Fix the Debt is to reduce budget deficits, it is worth asking why taxes don't figure more prominently on their agenda. It is also worth asking why one tax in particular, a financial transactions tax, never seems to get mentioned in anything the group or its members do.
Feeling panicked about the so-called "fiscal cliff?" Don't be. But artificial or not, the outcome of this fiscal showdown could set policy for years to come. Times of crisis open the door to changes that would be politically impossible in calmer settings
Europe's dramatic step forward can only boost the growing U.S. grassroots efforts for a Robin Hood Tax. Timothy Geithner has chastised European leaders for considering the idea. But with Geithner heading out the door, we may get a blast of fresh thinking.
Other countries are using financial speculation taxes successfully; it's time we do too. The United States is in desperate need of a permanently robust and resilient economy. A financial speculation tax can help get us there.
In the name of progress, enabling technologies have been allowed to corrupt the legitimate purpose of equity trading. Unfortunately, our financial system no longer distinguishes between means and ends.
President Hollande, the national political agenda can no more be separated from the international one. To help the French people, you simply must be at the forefront of the emergence of a better global world, and soon that occasion will be granted to you: the opportunity to pass a FTT.
It's important to remember that the financial industry is not monolithic. I was reminded of this over the past couple weeks as I worked to persuade financial professionals to come out in support of small taxes on trades of stocks, bonds, and derivatives.