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At the Center for Economic Policy Research, Nicole Woo writes about the revenue impact of various tax changes:
Most Americans will never see a million, let alone billions, of dollars in their lifetimes. So it’s easy to get lost among various federal budget options in the billions of dollars.

To help, here’s a handy chart that shows the financial transaction tax (a.k.a. the Wall Street or Robin Hood Tax) compared to 4 other revenue options that are often mentioned in the budget debates. As you can see, the Joint Committee on Taxation’s estimate of $352 billion over 9 years from the FTT swamps the other options.

Tax revenue from various new laws including a tax on financial transactions
This is not to say that the FTT is the end-all solution to budget deficits.  But this does support the argument that it should be seriously considered, along with the other options, when policy makers and the media discuss deficit reduction.

Blast from the Past. At Daily Kos on this date in 2005:

Remember, the point isn't that the American Taliban is just like Al Qaida (though given the chance...), the point is that there's no reason that liberals would ever "root" for Al Qaida or the Taliban or any of the crazies in the Islamic fundamentalist world.

The reasons we hate the American Taliban are the same reasons we hate fundamentalists of all stripes — they seek to impose their own moral code on the rest of society, and do so with the zeal and moral absolutism possible only from those who believe they are doing "God's work."


Tweet of the Day:

Almost everybody who is at work today is there making money for people who are wealthy enough to not be at work today.
@ElieNYC via TweetDeck


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