WHEREAS Wall Street transactions were taxed from 1914 to 1966; and
WHEREAS this tax had no detrimental effect on the growth of the US economy; and
WHEREAS the US budget is in crisis; and
WHEREAS certain sectors of the nation are earning billions and paying pennies; and
WHEREAS this tax would raise up to $350 billion dollars per year,
It is hereby RESOLVED that President Obama and his staff should strongly advocate for legislation taxing Wall Street transactions.
It is unfathomable that certain avenues of revenue increases are routinely ignored because lobbyists and special interests have a strangle-hold on our Congress. Rep. Ellison introduced a bill to create this tax, but it has gone no where.
A MANDATE from the people is needed now!