Fix The Financial Sector
1. End “too big to fail” by imposing additional capital surcharges on systemically risky financial institutions and breaking up firms that cannot produce credible living wills.
2. Better regulate the shadow banking sector.
3. Bring greater transparency to all financial markets by requiring all alternative asset managers to publicly disclose holdings, returns, and fee structures.
4. Reduce credit and debit card fees through improved regulation of card providers and enhanced competition.
5. Enforce existing rules with stricter penalties for companies and corporate officials that break the law.
6. Reform Federal Reserve governance to reduce conflicts of interest and institute more open and accountable elections.
Incentivize Long-Term Business Growth
7. Restructure CEO pay by closing the performance-pay tax loophole and increasing transparency on the size of compensation packages relative to performance and median worker pay and on the dilution as a result of grants of stock options.
8. Enact a financial transaction tax to reduce short-term trading and encourage more productive long-term investment.
9. Empower long-term stakeholders through the tax code, the use of so-called “loyalty shares,” and greater accountability for managers of retirement funds.
Make Markets Competitive
10. Restore balance to intellectual property rights to encourage innovation and entrepreneurship.
11. Restore balance to global trade agreements by ensuring investor protections are not prioritized above protections on the environment and labor, and increasing transparency in the negotiation process.
12. Provide health care cost controls by allowing government bargaining.
13. Expand a variant of chapter 11 bankruptcy to homeowners and student borrowers.
Rebalance The Tax System
14. Raise the top marginal rate by converting all reductions to tax credits and limiting the use of credits.
15. Raise taxes on capital gains and dividends.
16. Encourage U.S. investment by taxing corporations on global income.
17. Tax undesirable behavior such as short-term trading or polluting and eliminate corporate welfare and other tax expenditures that foster inefficiency and inequality.