Financial Transaction Tax
A modest levy on stock trades — as the U.S. used from 1916 to 1966 — to eliminate foreign holdings of the national debt within 20 years.
$9.35 trillion
Current foreign holdings of U.S. public debt
Reduce Foreign Holdings of Public Debt by 80%
Over 30 years
Foreign nations currently hold $9.35 trillion of U.S. public debt — a significant source of economic and geopolitical leverage over the United States. The Financial Transaction Tax provides a dedicated, proven revenue stream to retire this obligation nearly completely within 30 years, helping restore American financial sovereignty.
How It Works
No more than 0.5%
of the total annual value of stock traded
The tax levies no more than 0.5% of the total annual value of stock (roughly $50 trillion) traded on U.S. exchanges. This is a minimal rate — far below the bid-ask spreads that have existed for more than a century — and falls primarily on high-frequency and speculative trading rather than on ordinary long-term investors.
American Precedent
1916–1966
Years the U.S. levied a financial transaction tax
0.2%–0.4%
Historical rate range
This is not a new idea. From 1916 to 1966, the United States government levied a financial transaction tax of between 0.2% and 0.4% on stock trades. The tax coexisted with the strongest period of broad-based economic growth in American history. It was repealed not because it failed, but because of lobbying pressure from Wall Street. Dr. Joe's proposal restores a proven tool — at a rate no higher than 0.5% — to serve the public interest once again.
Main Street Rising
A tiny tax on Wall Street speculation can eliminate trillions in foreign-held debt and restore American financial independence. Help Dr. Joe make it happen.