Leading Liberal Economist Endorses DeFazio’s Wall Street Transpo Tax

This tax can best be thought of as a tax on gambling.Gambling is heavily taxed in every state that allows it. DeFazio's [plan] is effectively a tax on gambling in the oil markets. It will not stopit, but it would discourage it, and in the process raise a huge amountof money that could go to productive purposes.

... [I]t is important thatpeople know about the DeFazio bill. First, DeFazio deserves a place onthe honour roll for standing up to Wall Street.

Also, it isimportant for the public to know that there is a relatively low-costway to make up the shortfall in the highway trust fund. When Congressraises some other tax and/or cuts a useful programme, people shouldknow that there was a better alternative. It just didn't happenbecause, as we know, the banks own the place.