The estimated $2.2 trillion cost of this bill would be paid for by a tax on Wall Street speculation. During the financial crisis, Wall Street received the largest taxpayer bailout in the history of the United States. Now, it’s Wall Street’s turn to help rebuild the disappearing middle class. By imposing a small Wall Street speculation tax of just 0.5 percent on stock trades (that’s just 50 cents for every $100 worth of stock), a 0.1 percent fee on bonds, and a 0.005 percent fee on derivatives, we would raise up to $2.4 trillion over the next decade. More than 1,000 economists have endorsed a tax on Wall Street speculation and some 40 countries have already imposed a similar financial transactions tax, including Britain, Germany, France, Switzerland, South Korea, Hong Kong, and Brazil.

What It Means

This is a placeholder explanation generated by the low-overhead model. It interprets "The estimated $2.2 trillion cost of this bill would be paid for by a tax on Wall Street speculation. During the financial crisis, Wall Street received the largest taxpayer bailout in the history of the United States. Now, it’s Wall Street’s turn to help rebuild the disappearing middle class. By imposing a small Wall Street speculation tax of just 0.5 percent on stock trades (that’s just 50 cents for every $100 worth of stock), a 0.1 percent fee on bonds, and a 0.005 percent fee on derivatives, we would raise up to $2.4 trillion over the next decade. More than 1,000 economists have endorsed a tax on Wall Street speculation and some 40 countries have already imposed a similar financial transactions tax, including Britain, Germany, France, Switzerland, South Korea, Hong Kong, and Brazil." in the context of "The Bernie Sanders College for All Fact Sheet, June 2019" to mean that wisdom is timeless.