March, 04 2019, 11:00pm EDT

Main Street Must Be Rebuilt on Wall Street's Dime
Statements of Public Citizen Experts
WASHINGTON
Note: Today, The Wall Street Tax Act of 2019 was introduced by U.S. Sen. Brian Schatz (D-Hawaii) and U.S. Rep. Peter DeFazio (D-Ore.) It would put a tax of 0.1 percent on all stock, bond and derivative trades. The nonpartisan Joint Committee on Taxation has scored a Wall Street tax at 0.1 percent (10 cents per $100 traded) as creating nearly $777 billion in revenue over ten years. Public Citizen was joined by 60 other organizations in endorsing this legislation.
"A tiny tax on Wall Street trades can make big change: slowing down high-speed, computer trading will calm our markets; taxing speculation will refocus trading on long-term, job creating investments; and taxing trades at a rate of just 10 cents out of every $100 traded will still stack up to big money that can rejuvenate American communities. It's time for all members of Congress to join the call to rebuild Main Street on Wall Street's dime."
-Lisa Gilbert, vice president of legislative affairs, Public Citizen
"Teachers are protesting the lack of adequate funding in their schools, children are facing the threat of unsafe drinking water and roads are in such disrepair that potholes are damaging vehicles - the list of problems that need tackling in this nation seems to grow by the minute. Not only would unrigging the tax code help pay for these critical investments, progressive taxes like those in the Wall Street Tax Act could address the alarming economic inequality facing our country. So, the question shouldn't be whether to tax Wall Street trades but when? We think the time is now."
-Susan Harley, deputy director, Public Citizen's Congress Watch division
Public Citizen is a nonprofit consumer advocacy organization that champions the public interest in the halls of power. We defend democracy, resist corporate power and work to ensure that government works for the people - not for big corporations. Founded in 1971, we now have 500,000 members and supporters throughout the country.
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'We Don't Do Kings': Mass Protests Planned to Counter Trump's Birthday Military Parade
"Donald Trump wants to spend tens of millions of taxpayer dollars to throw himself a big fancy parade with tanks in the streets," said one organizer. "This is straight out of the authoritarian playbook."
May 06, 2025
Pro-democracy campaigners late Monday announced a nationwide "No Kings" day of defiance on June 14—the same day U.S. President Donald Trump plans to hold a birthday military parade more befitting a dictator than an elected head of state.
More than 100 "No Kings" events have already been registered across the U.S., with many more expected in the weeks ahead of the day of action.
See the full list of planned events and locations here.
"Donald Trump wants to spend tens of millions of taxpayer dollars to throw himself a big fancy parade with tanks in the streets," explained Ezra Levin, co-executive director of Indivisible, on Monday's broadcast of The Rachel Maddow Show. "This is straight out of the authoritarian playbook. He wants to project strength. He wants everybody to think that he is all-powerful. That he rules the world."
"He doesn't," Levin added. "Real power is not in D.C. It's distributed all across the country. And what we're looking to do on No Kings Day is to say, look—Donald Trump does not own the flag. He does not own patriotism. In fact, we can all show up in opposition to a king in this country."
The event's website says the goal of the mass demonstrations is to show that "from city blocks to small towns, from courthouse steps to community parks, we're taking action to reject authoritarianism."
"In America, we don't do kings," the website states. "On June 14th, we're showing up everywhere he isn't—to say no thrones, no crowns, no kings."
News of the latest mass mobilization against Trump and his far-right agenda came days after the U.S. Army confirmed plans for a parade on June 14—the Army's 250th birthday and Trump's 79th.
"The Army anticipates featuring 150 vehicles, 50 aircraft, and 6,600 soldiers," The Washington Postreported, citing an Army spokesperson. "The parade will accompany a fireworks display and a day-long festival on the National Mall with military demonstrations, musical performances, and a fitness competition."
The price tag for such festivities could be massive, with two unnamed defense officials tellingNBC News that it could be as high as $45 million. In an interview that aired over the weekend, Trump called the potential cost "peanuts compared to the value of doing it."
"We have the greatest missiles in the world," Trump declared. "We have the greatest submarines in the world. We have the greatest army tanks in the world. We have the greatest weapons in the world. And we're going to celebrate it."
U.S. Rep. Steve Cohen (D-Tenn.) said in a statement Monday that "this would be an unprecedented waste of money to please this self-absorbed con man, and the public should make clear it's unacceptable."
"The egotist-in-chief wants taxpayers to foot the bill for a military parade on his birthday," said Cohen, the lead sponsor of legislation that would "prohibit the use of federal funds for a military parade in the District of Columbia intended for the personal celebration of President Donald J. Trump, and for other purposes."
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U.S. President Donald Trump used his social media accounts on Monday to promote a scheduled private dinner for the top holders of the $TRUMP meme coin, effectively soliciting purchases of the crypto token that now accounts for a substantial portion of his net worth.
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The Trump family's net worth has reportedly grown by $2.9 billion over just the past six months thanks to crypto-related investments, and creators of the president's meme coin have raked in hundreds of millions from trading fees as people rush to purchase access to Trump. Late last month, a shipping logistics firm announced that it planned to purchase $20 million worth of $TRUMP coins as it seeks tariff relief.
"Those responsible for upholding the law, from federal prosecutors to members of Congress, can only ignore this at the expense of their own personal legacies."
The watchdog group Public Citizen said Monday that Trump's promotion of the private dinner for investors in his meme coin "is a crime with no immunity."
"Federal criminal law (18 U.S.C. § 201; 5 C.F.R. § 2635) forbids the president from soliciting gifts; as this is not a presidential act, he does not enjoy immunity from prosecution," the group noted, alluding to the U.S. Supreme Court's sweeping immunity decision last year.
Bartlett Naylor, Public Citizen's financial policy advocate, said in a statement that "Trump's ongoing meme grift squats at the crest of his mountain of conflicts, corruptions, and debasements of the presidency."
"Those responsible for upholding the law, from federal prosecutors to members of Congress, can only ignore this at the expense of their own personal legacies," said Naylor, who co-authored a Monday letter imploring the Justice Department and Office of Government Ethics (OGE) to "intervene and end these gift solicitations."
The dinner giveaway is so brazenly corrupt that it's raising eyebrows even among some of Trump's Republican allies in the Senate.
"This is my president that we're talking about, but I am willing to say that this gives me pause," said Sen. Cynthia Lummis (R-Wyo.) last week.
Hours after promoting the private event for top $TRUMP holders, the president late Monday hosted a $1.5 million-per-plate fundraising dinner at his Virginia club. The dinner, which was closed to the press, was co-hosted by David Sacks, the Trump administration's crypto czar.
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This is a breaking story… Please check back for possible updates...
Congresswoman Alexandria Ocasio-Cortez ended a week of speculation on Monday by announcing that she will not seek the ranking member position on the U.S. House Committee on Oversight and Government Reform.
The New York Democrat, who last year ran for ranking member and lost to Rep. Gerry Connolly (D-Va.), told reporters, "It's actually clear to me that the underlying dynamics in the caucus have not shifted with respect to seniority as much as I think would be necessary, so I believe I'll be staying put at Energy and Commerce."
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Connolly, now 75, sought the House leadership role despite an esophageal cancer diagnosis he disclosed in November. Last Monday, he said in a letter to constituents that "I want to begin by thanking you for your good wishes and compassion as I continue to tackle my diagnosis. Your outpouring of love and support has given me strength in my fights—both against cancer and in our collective defense of democracy."
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The panel's far-right chair, James Comer (R-Ky.), said in response to last week's announcement that "I'm saddened to hear that Ranking Member Connolly's cancer has returned. He is a steadfast public servant who has spent his career serving Northern Virginians with honor and integrity. It's an honor to serve the American people alongside him and I am rooting for him as he battles cancer once again. Our prayers are with Ranking Member Connolly and his family."
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