Campaign strategists are placing these anti-Wall Street ads for an obvious reason. Wall Street’s greed grab, they understand, has deeply angered America.
A growing number of lawmakers in Congress are aiming to change this 1 percent-friendly status quo. They’ve introduced over a dozen different financial transaction tax bills. The latest — from Rep. Keith Ellison of Minnesota — would place a 0.5 percent tax on every stock trade and somewhat smaller taxes on every trade of bonds, derivatives, and currencies.
These Robin Hood campaigners don’t have a fraction of the cash spent so far on all those anti-Wall Street political campaign ads. But they do now have solid legislation to push — and an equally solid determination to keep all those anti-Wall Street candidates honest.