A tax on Wall Street trading is the best solution to income inequality

Tax Financial Transactions Poster - Washington DC
(Image by Glyn Lowe Photoworks.)   Details   DMCA

Revenues from financial transaction taxes will come out of the pockets of many of the richest people in the country.

This is a great example of a clearly defined policy that will directly reverse some of the upward redistribution of income over the last four decades. Of course, FTTs still face an enormous uphill battle before they could be implemented. As with other policies that would reverse the upward redistribution the problem is not the difficulty of designing the policy, the problem is the power of the rich people who don’t want a fairer and more efficient economy.