Bernie Sanders wants to tax stock trades to pay for free college

Bernie Sanders wants to tax stock trades to pay for free college
Credit: Greg Nash

Democratic presidential candidate Bernie Sanders wants to take from the rich in order to make public college tuition-free for everyone else.

On Tuesday, the Vermont senator will hold a press conference in the nation’s capital at which he will introduce a plan to use a so-called Robin Hood tax on stock transactions to fund tuition at four-year public colleges and universities.

Sanders’ bill sets a 50-cent tax on every “$100 of stock trades on stock sales, and lesser amounts on transactions involving bonds, derivatives, and other financial instruments,” the group Robin Hood Tax on Wall Street said Monday in a press release.

“The Robin Hood tax would also slow the growth of automated high frequency trading, which makes the stock market more dangerous,” the press release stated. “A small tax would make risky HFT unprofitable, and help reduce the excess speculation on commodities like food and gas that drives up prices, which will protect the economy from computer-generated collapses and market manipulation.”

Continue reading →


Commenting Policy

We have no tolerance for comments containing violence, racism, vulgarity, profanity, all caps, or discourteous behavior. Thank you for partnering with us to maintain a courteous and useful public environment where we can engage in reasonable discourse.

You may use HTML in your comments. Feel free to review the full list of allowed HTML here.