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It's time the 1% pay up

For too long, reckless high-frequency traders on Wall Street have been making obscene profits while creating market instability and volatility. These traders drive up prices for individuals, pension funds, and average investors.

These trades are done using super computers that hold and sell a stock for a few seconds or less. Some days, these traders trade billions of shares, reaping enormous financial benefits for themselves, their privileged elite investors, and adding no real value to our economy.

This is wrong, it's unfair, and it's long past time to curb risky speculative trading!

That's why I've introduced the Wall Street Tax Act which implements a very small tax of 0.1 percent on certain speculative trades. A stock trade of $1,000 would incur a tax of just one dollar. This transaction tax would generate an estimated $777 billion over a decade that could fund our national priorities such as investing in education and rebuilding our crumbling infrastructure.

Help me send a clear message by signing my petition: pass the Wall Street Tax Act!

The stock market should be about making smart long-term investments in growing companies, not electronic insta-trades that treat Wall Street like a casino and destabilize the entire economy.

A recent study done by the bipartisan Tax Policy Center estimates that a tax of this kind would only apply to the highest earners in the country, with nearly half of those affected being the wealthiest 1%. I've been saying it since I marched in the streets with the Occupy Wall Street movement: it's time for the wealthy 1% on Wall Street to pay their fair share!

As I'm sure you can imagine, the Wall Street elite aren't exactly happy about this bill and my work has gained me a powerful enemy: Wall Street billionaire Robert Mercer. Mercer has targeted me for years and spent millions trying to oust me from Congress- because I think the 1% should pay their fair share and refuse to put profits over people!

Sign my petition and join me in standing up to Wall Street!


Posted on March 12, 2019.

As Independent as Oregon.

Peter DeFazio's common-sense proposals aim to create good-paying jobs, expand access to affordable health care and develop options outside of the for-profit marketplace, restore economic and educational opportunities, hold government accountable and tip the scales of inequality back in favor of hard-working Oregonians.

Meet Peter