Friday, September 26, 2008

Let Those Who Broke It Pay To Fix It

10 Ways to Bail Out Wall Street (and Main Street)

Without Soaking Taxpayers in Debt

Who says we need to borrow a trillion dollars to save Wall Street from its own excesses?


Chuck Collins and Dedrick Muhammad, AlterNet:

Wall Street and speculators should pay now for the mess they created.

Instead of borrowing from the super-wealthy beneficiaries of the casino economy, we should tax them.

A Responsible Plan to Pay for Recovery: $900 Billion in New Revenue

Below is our 10-point program to pay for this broader bailout. This plan would generate $900 billion a year until the costs of the bailout and stimulus program are paid for.

  1. A Securities Transaction Tax: $100 Billion...

  2. A Wealth Tax Surcharge on Households with $10 Million: $300 billion...

  3. A Corporate Minimum Income Tax: $60 Billion...

  4. A "Disgorgement" Recovery From Profligate CEOs: $40 Billion...

  5. An Income Tax Surcharge on Incomes Over $5 Million: $105 Billion...

  6. An End to Overseas Corporate Tax Havens: $100 Billion...

  7. The Elimination of Subsidies for Excessive CEO Pay: $20 Billion...

  8. The Elimination of the Tax Preference for Capital Gains: $95 Billion...

  9. A Progressive Inheritance Tax: $60 Billion...

  10. The Elimination of the Mansion Subsidy: $20 Billion...

Economic Fascism Coming to America

By Robert Scheer, Truthdig:
Smell a rat if Congress approves the Paulson plan without major modifications that might help Main Street as well as Wall Street.

Meltdown: It's Not Just a Matter of Greed

Arthur MacEwan, Dollars and Sense:
Greed is a human constant, which begs the question of what it is that changed in the lead-up to this financial crisis.

McCain and GOP Pals' One-Page Plan To Save His Campaign ... er, the Economy

Steven D., Booman Tribune:
If you believe this one I've got a bridge to sell you in Alaska.

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