Tavakoli on a windfall profits tax
Stacy Summary: I agree; but first we should remove all subsidies and cheap funding to the Friends of Timmy. Then, we should take back what is ours. And then, we should tar and feather them. Or should that come before the windfall profits tax?
During World War II, we imposed an excess profits tax. We should impose a 95% excess profits tax—or windfall profits tax—on certain financial institutions (including Goldman Sachs) enriching themselves with ongoing low-cost Fed funding and debt guarantees.
October 20, 2009
