Uncategorized

Now, jobs

Even as we celebrate health care reform, rebuilding our economy grows more urgent.

It’s an emergency we don’t have a year to debate as we did with health care. Not with virtually every community in the state suffering the worst unemployment most anyone can remember.

Every day families sink further into debt, local governments cut important services and our infrastructure continues to crumble.

There is an obvious way to fix our economy, and it’s as simple as it is just: Make Wall Street pay to rebuild Main Street.

 The AFL-CIO is proposing a four-part solution that doesn’t increase the deficit or raise taxes on working families and small business. The proposal relies on a small financial speculation tax on all market transactions, including derivatives, futures and options. It wouldn’t affect retirement accounts and most middle-income investors.

Legendary investors Warren Buffett and Pete Peterson support this idea because it also would protect true investors by limiting unhealthy market speculation.

Economists estimate that such a tax would raise $100 billion to $300 billion annually. The proposal also backs President Obama’s plan to impose fees on Wall Street banks to pay back the cost of their taxpayer-funded bailout, a levy on Wall Street bonuses and abolishing an income tax break enjoyed by hedge fund and private equity managers.

Though the solution seems obvious, it will be fought at every turn by Wall Street’s army of lobbyists.

On Thursday working families, including members of the A. Philip Randolph Institute and the NAACP, will gather for an informational picket at 11:30 a.m. outside the Bank of America at 321 Oberlin Road in Raleigh.

Because when it comes to creating jobs there’s not a moment to spare.

2 Comments


  1. Joe Ciulla

    March 23, 2010 at 8:54 pm

    I thought they passed a jobs bill on Sunday. Didn’t they create 16,000 new jobs for IRS agents?

  2. WILLIAM MURRAT

    March 23, 2010 at 10:28 pm

    HAVE YOU THOUGHT ABOUT CUTTING FEDERAL SPENDING IN EVERY DEPARTMENT ? YOU WILL QUICKLY RUN OUT OF PLACES TO TAX !

Top Stories from NCPW

  • News
  • Commentary

This story has been updated with comments from Jim Womack, who did not respond earlier to questions. [...]

For the 18 months, Gary Brown has been traveling through northeastern North Carolina like an itinera [...]

It will be at least another month before state Superintendent Mark Johnson can take over at the helm [...]

Eric Hall, in the midst of a rainy drive to rural Robeson County to pitch North Carolina’s ambitious [...]

5---number of days since Senators Bill Cassidy and Lindsey Graham unveiled a new proposal to repeal [...]

The post The stench of hate speech appeared first on NC Policy Watch. [...]

When a Navy recruiter visited his high school, Carlos was among those students eager to sign up. In [...]

Website with ties to Civitas Institute promotes anti-Semitic attack on Attorney General Stein There [...]

Featured | Special Projects

NC Budget 2017
The maze of the NC Budget is complex. Follow the stories to follow the money.
Read more


NC Redistricting 2017
New map, new districts, new lawmakers. Here’s what you need to know about gerrymandering in NC.
Read more