I learned on Flashpoints that New York State has had a stock transfer tax,
started by a Republican governor in the early 1900's, fought by Wall Street.
It remained and the funds were extremely helpful to the state budget until
the 1980's when, under pressure from Wall Street, a Democratic governor
agreed on an annual rebate. So each year, billions are collected and then
returned to this tiny group of players. Now that the state is in such
economic difficulty, there are groups pressuring to stop the rebates.
However, our Democratic Governor Cuomo, who has many friends on Wall Street,
is refusing. Instead, he's suggesting taxing Marijuana and other items and
activities used by the middle and working classes.
Miriam
