Today, the Senate Budget Committee held a hearing on "Making Wall Street Pay Its Fair Share." @SarahDAnderson1 from @IPS_DC talks about tax two-fers - taxing excessive CEO pay, financial transactions, and stock buybacks - to make the economy more fair and curb excessive CEO pay
Chair @SenWhitehouse deserves a million thanks for exposing all of the ways that Wall Street is able to escape paying its fair share. #MakeWallStreetPay
IRS funding! Thanks @ChrisVanHollen for mentioning how important that is. Not only does it ensure people and companies pay what they owe, it helped make Direct File-- free IRS online filing software-- a reality and therefore save folks time and money every year.
A #WallStreetTax is not going to hurt Americans. For middle income families with average mutual fund accounts, the yearly cost of a tax on Wall Street trades would be only $13 per year. https://t.co/FZ5uU2kGVm
Financial transaction tax in Sweden. Yawn. What a tired argument. Everyone knows that was designed poorly and what about all of the countries that currently have an FTT? https://t.co/2Snb8sL1r3
On the topic of inflation: As Business Insider says, the US economy is “crushing it” compared to other rich nations, with US inflation being the lowest in the G7. https://t.co/hdlaRNpYXp
We do NOT want to go through another financial meltdown. Excessive executive compensation definitely leads to risk (and other harmful behavior). See this report from @bartnaylor https://t.co/hiSvjfz0aM #MakeWallStreetPay
I appreciate Sen. Grassley saying we should reexamine the tax code, but we differ on whether making Wall Street pay its fair share is political. The American people from both sides of the aisle think corporations should not be able to use loopholes to escape paying taxes.