Josh Bivens and Hunter Blair
Economic Policy Institute
A FTT is an efficient and progressive revenue source. The rise of finance has been largely at the expense of other economic sectors, and that a well-designed FTT is also a very useful tool for shrinking the unproductive parts of this sector.
With our banking system in private hands, the simple truth is that as the debt levels accelerate, so does runaway inequality. Therefore key to controlling runaway inequality is to dramatically curtail the power of high finance.
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