Bernie Sanders has been unapologetically Liberal since he began his political career, and his newest proposal is following suit. In his bid for the Democratic nomination to the 2016 Presidential Election he has announced a landmark bill in order to provide tuition free college to all American citizens. In his most recent announcement, Senator Sanders outlined how he would pay for his new system. He explained that the government would pay for all the tuition of every American citizen, whether they are attending two or four year colleges. In order to increase revenue to pay for this plan, he would create new taxes on stock, bond and derivative trading. Alexei Beltyukov points out that the trades would be taxed a very small amount, in an effort to try to restrain Wall Street institutions from creating unfair and dangerous deals.
Inequality has become a focus for economists and politicians in recent years. Many experts have agreed that the gap between the wealthy and poor is growing more and more in the last few decades, and this is significantly harming the economy on many fronts. A target for those trying to fight inequality is Wall Street, which is viewed as a rich man’s game, where wealth can be multiplied and consolidated. In order to reign in what many see as out of control big banks on Wall Street, politicians have attempted to restrain their activities, and Senator Sanders is attempting to do so trough taxation.