How to Liberate America from Wall Street Rule

[Donnachaidh]

http://www.commondreams.org/view/2011/07/19-8

The dominant story of the current political debate is that the government is broke. We can’t afford to pay for public services, put people to work, or service the public debt. Yet as a nation, we are awash in money. A defective system of money, banking, and finance just puts it in the wrong places.

Raising taxes on the rich and implementing financial reforms are essential elements of the solution to our seemingly intractable fiscal and economic crisis. Yet proposals currently on the table fall far short of the need.

A newly released report of the New Economy Working Group, coordinated by the Institute for Policy Studies in Washington, DC, goes beyond the current debate to call for a deep restructuring of the institutions to which we as a society give the power to create and allocate money. How to Liberate America from Wall Street Rule spells out the steps required to rebuild a system of community-based and accountable institutions devoted to financing productive activities that create good jobs for Americans and generate real community wealth.

Over the past 30 years, virtually all the benefit of U.S. economic growth has gone to the richest 1 percent of Americans. Effective tax rates for the very rich are at historic lows and many of the most profitable corporations pay no taxes at all.

More at the link --

[Octafish]

1. Gee. That would sound like uh uh uh uh uh something an FDR would write!

Now what party was he with, again?

[bemildred]

2. Well, they have to be destroyed, we should have finished the job last time.

Or the time before, or the time before that. It's perfectly clear the "Investment Banks" will never give up their love for Ponzi schemes and for preying on the rest of us.

[bvar22]

3. I thought Obama took care of all that..

..with The Reforms.
It was called "historic" and everything.
Its even on The List.




Who will STAND and FIGHT for THIS American Majority?
You will know them by their WORKS,
not by their excuses.