Yves here. As much as I am a fan of having state supported higher education, the “making Wall Street pay for it” will backfire if not framed properly. The author, Les Leopold, advocates a transaction tax as the way to pay for increased support for schools.
The shortcoming here is that transaction taxes are NOT designed to be revenue-generators (although they do produce tax receipts). They are meant to reduce the activity that it taxed. And there is no question we need to shrink our bloated financial sector.
READ MORE NAKED CAPITALISM
Let's get rid of the burden of student loans and utilize Wall Street
