Hi,

Senator Bernie Sanders and Representative Barbara Lee just introduced legislation to tax Wall Street greed.1 The Tax on Wall Street Speculation Act of 2023 would raise taxes on high-frequency stock traders, hedge fund executives, and Wall Street profiteers — the people raking in record profits as wages for everyday Americans are stagnant.

Since 1985, Wall Street bonuses have surged by 1,165 percent.2 Finance executives are swimming in money. This bill explicitly targets their greed and helps build a financial system that works for everyone, not just the top 1%.

Sign the petition: Wall Street profiteering is out of control — Congress must make the rich pay their fair share and pass the Tax on Wall Street Speculation Act!

Senator Sanders said upon introduction of the bill, “Let us never forget: Back in 2008, middle class taxpayers bailed out Wall Street speculators whose greed, recklessness and illegal behavior caused millions of Americans to lose their jobs, homes, life savings, and ability to send their kids to college.”3

We cannot allow reckless speculation to continue on without any attempts to rein it in with a tax that would increase government revenue by $220 billion every year.4

Without taxation and regulatory policies aimed at America’s profiteers, we will see more reckless behavior from the rich leading to more economic crises and banking panics that lead to financial ruin for so many Americans.

Big changes are needed in America’s tax system and the Tax on Wall Street Speculation Act of 2023 is a critical piece of those reforms.

Join Sen. Sanders and Rep. Lee to show your support for this targeted tax on Wall Street’s richest speculators.

Thanks for taking action,

Tihi and the team at Demand Progress

Sources:

  1. Office of Rep. Barbara Lee, "Congresswoman Barbara Lee and Senator Bernie Sanders Introduce Tax on Wall Street Speculation Act of 2023,” June 14, 2023.
  2. Ibid.
  3. Ibid.
  4. Ibid.

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