Wednesday, October 14, 2009
11:00 AM
Kagen: Wall St. tax should help fund health care
U.S. Rep. Steve Kagen said Wednesday he favors a tax on Wall Street transactions -- rather than on medical devices or other businesses -- to fund part of the massive health care reform bill.
"I think that Wall Street should participate in the recovery of the American economy," the Appleton Democrat told reporters during a conference call, arguing that questionable practices by those investors sparked the economic collapse last year.
Kagen said a fee of 0.25 percent on all trades would generate more than $100 billion annually, providing critical access to citizens in need of health care.
Kagen said he couldn't speculate on the fate of a public option after the Senate Finance Committee approved their version of the health care bill Tuesday, without a public plan. But as House and Senate leaders work to merge the bills in the coming weeks, Kagen said, "I think there has to be something like a public option, regardless of what you call it."
Kagen also touted yesterday's report on the impact of federal stimulus spending in Wisconsin, saying that the thousands of jobs created by the spending included "putting money where it really belongs" -- into public safety and education.
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