LET'S STOP SUPPORTING MARKET MANIPULATORS

It is time to quit being nice to the financial market manipulators. They are destroying the middle class by manipulating stock and commodity markets. The Wall Street Trading and Speculators Tax Act proposes a minuscule tax of .03% on financial transactions. That amounts to a tax of 3 cents on a $100 (.0003 x $100). The proposed tax is estimated to raise $350 billion over the next nine years. That amounts to about 39 billion dollars in tax revenue per year. This minuscule tax can only serve to perpetuate a system of market manipulation that will bring about financial crisis after financial crisis and eventually destroy the middle class completely.

Let's try to stop financial market speculation now. Attempting to use the transaction tax as a revenue source does not consider the financial harm done to the middle class. 

We've seen it happen!  We get it!  The 99% are demonstrating in the streets throughout the United States. Wanton financial market speculation by enormous hedge funds manipulate the markets to extract wealth from the middle class for the benefit of the 1%. A weak transaction tax system should not be instituted that will perpetuate the greed and moral corruption of market manipulators.

There's a popular phrase “a billion dollars here and a billion dollars there and pretty soon your talking real money”. Perhaps a 1% transaction tax won't stop financial market manipulation either. Maybe a 1% transaction tax won't even slow down the market manipulators. If it doesn't then a 1% transaction tax will raise 11.7 trillion dollars over 9 years or 1.3 trillion per year. That amounts to 33.3 times as much as the proposed minuscule .03% transaction tax. (.0003 x 33.333 = 1%)

Whose side is the Democratic Party on? Perpetuating the present system of financial market speculation can only give us more of what we got. It looks like We the People need a regime change in the Democratic Party.