People of Faith CT

The Socialist Party proposes that the following measures be implemented immediately:

• The US government should create a fund to stabilize
defaulting mortgage holders. The fund would extend
credit to homeowners in need of loans to bridge their
way through the financial crisis. In addition,
legislation should be passed to outlaw predatory
mortgages and force lenders to re-negotiate
unfavorable terms with home-owners. A moratorium on
foreclosures should be declared until such legislation
is passed.

• A federal tax of 6% on all incomes above $5 million
dollars should be enacted immediately. This funding
pool should be used to extend low or no-interest loans
to non-profit co-operatives and worker-managed
enterprises for the creation of new manufacturing
projects. This will help create a new productive core
of the US economy.

• The Congress should immediately pass House
Resolution 676 to establish a National Health
Insurance Program. This would remove a major cause of
personal bankruptcy claims – bills from healthcare
procedures.

• Legislation should be enacted to create a “Tobin
Tax” on financial transactions of .02 cents per
transaction. The resulting funds would be pooled to
share with indebted state governments to prevent cuts
in vital social services.

• Emergency legislation should be passed to remove the
wage base on social security payments. Currently, the
employer and employee must pay a 12.4% social security
tax on income up to $97,500. Any income above this
amount is exempt from social security taxes. Removing
this tax ceiling would secure future payments of
social security and allow for an increased payout
thereby reducing the dependency of retired workers on
401k plans tied to outcomes on Wall Street.

www.socialistpartyct.org
www.votebrianmoore.com
www.votevachon.com