Tax dodging deprives our nation of revenue needed to maintain and modernize the infrastructure and services underpinning a strong economy. An estimated $37-60 billion or more in tax revenue is lost every year to tax havens. Our economic progress is undermined when companies are rewarded for financial manipulation rather than innovation and productive investment. Responsible businesses and banks are hurt when other firms ...more »
A small tax (such as 0.5%) on trades of stocks, bonds, derivatives, and other Wall Street products could help reduce the deficit and reduce high-frequency robo-trading that causes market volatility and exacerbates bubbles, with hurting more stable buy-and-hold investment methods favored by ordinary families. Making the tax international would prevent evasion.