We’re Taking On Wall Street and the Big Banks
Too-big-to-fail banks put the economy in jeopardy, but they have only gotten bigger since the Great Recession. Today, the five biggest banks are over 30 percent bigger than they were before the crash.
A 21st Century Glass-Steagall Act would make banks smaller by separating Wall Street trading and securities dealing from regular banking. It would also keep the banks we depend on for every day business—and back up with government support—out of high risk Wall Street activities. Learn More
Wall Street Speculation Tax
A Wall Street Speculation Tax would help stop wasteful and risky high-frequency trading. This kind of trading brings benefits to Wall Street institutions but creates market instability and adds nothing to the wider economy.
A very small tax on this kind of trading could raise hundreds of billions of dollars over the next decade—enough to address all kinds of social problems, ranging from education to infrastructure. Learn More
Get Big Money
Out of Politics
Big money in the political system has a corrosive effect on our democracy. Corporations and the super-rich spend billions each year to influence elections and shape legislation.
It’s time for common sense legislation that puts reasonable limits on political spending and increases the power of small contributions that regular Americans can afford to give. Everyone should have an equal voice in our political system. Learn More
Make Fund Managers
Pay Their Fair Share
The “carried interest” loophole allows hedge fund and private equity fund managers to claim part of what is really salary income as capital gains instead, and as a result pay about 20% in taxes instead of the 39.6% they otherwise should.
The carried interest loophole costs us at least $1.5 billion per year—real money that can be used to help families devastated by the recession that resulted from risky gambling and wrongdoing on Wall Street. Learn More
End Tax Exemption For
Huge CEO Bonuses
Corporations are avoiding paying taxes on multi-million dollar bonuses paid to their CEOs by linking the massive bonuses to “performance.” This loophole encourages inflated payments to a few top executives, usually in stock shares, and increases the CEO-to-worker pay gap.
It’s a big problem with a straightforward solution: bonuses need to also be treated as salary, subject to the $1 million cap on tax deductibility. Learn More