President Obama -Take the Money Back!
Hundreds of billions of dollars of our money have gone to bank bail-outs -- but the banks are still unreformed, raking in billions in profit and bonuses while public finances are gutted.
It's payback time. A new proposal -- a tiny tax on international bank speculation -- is gathering support from activists to economists to celebrities to policy makers. The financial speculation tax could raise hundreds of billions of dollars each year for U.S. job creation and to fight global disease, poverty and climate change.
Let's show the President that we won't stand for any more recklessness and call on him to support a financial transaction tax.
Dear Mr. President,
After the financial crisis and the investment of hundreds of billions of dollars in bank bailouts, bonuses and profits are again rising rapidly. We believe it is time for international bankers to pay something back to society.
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We call on you to support a tiny charge of 0.25 percent or less on each trade of stocks, derivatives, currency, and other financial assets to ensure that banks pay their fair share of the costs of recovery. We urge you to use the hundreds of billions of dollars that would be generated by a financial speculation tax to create jobs at home, and to invest in fighting global disease, poverty and climate change.
