It was an action-packed BradCast today, though not in a good way, unfortunately, thanks to Republicans and their state Supreme Court majority in Wisconsin. [Audio link to full show is posted below.]

First up, as we've been telling you for weeks, there is absolutely no plan at the federal level for dealing with the coronavirus pandemic --- on either a medical level or an economic level --- even months after the Trump Administration first learned about it. The $2.2 trillion so-called Coronavirus Aid, Relief and Economic Security (CARES) Act, hastily adopted by Congress and signed by the President just over a week ago is a mess.

Individual checks for $1,200 may take months to get to many Americans (if they get them at all) and the process for doling out $350 billion allocated by the measure towards immediate relief for small businesses via forgivable loans is even more of a disaster out of the gate. Banks, serving as middlemen, are not set up for the onslaught of applications that began on Friday, with many applicants being turned away entirely by the largest banks, and with nowhere near enough money included in the pool to serve the 30 million companies considered eligible small businesses. Our guest today suggests that no more than 5% of businesses who need help under the CARES Act's Paycheck Protection Program (PPP) are likely to receive the immediately needed loans before the funding runs out.

Moreover, there is still no nationalized plan by the Trump Administration to ensure that states have all of the basic equipment they need --- from masks, gloves and gowns to ventilators and test kits --- as supply chains have become an all out "Wild West show, with middlemen and drop points and plane rescues," according to our guest DAVID DAYEN, financial investigative journalist and Executive Editor of The American Prospect. He is now producing his indispensable "Unsanitized: Covid-19 Daily Report" column and newsletter at The Prospect.

He reports that it is not only states competing with other states and the federal government for critical life-saving equipment, but that the federal government (FEMA) is also competing with the federal government (the Strategic National Stockpile or SNS), bidding up the same gear! All of this as U.S. deaths officially attributed to COVID-19 blew past the 10,000 mark on Monday, with a week ahead that could include a "9/11 attack worth of Americans" dying, day after day, for 10 days in a row beginning in the next few days, according to one of the more conservative data projections.

Dayen offers detail on much of the above and the problem that many Americans are also now facing in their attempts to file for bankruptcy protection --- at a time that many desperately need to do so --- with courthouses shutdown around the country, and only those lucky enough to be able to afford an attorney able to file electronically.

As CNN's Jake Tapper made clear on Sunday: there is no plan for any of this. It is a disaster that is likely to continue for months (at least) with no competent officials leading the way at the federal level, and absolutely no ultimate plan to help us get out, eventually, from under what is likely to be as bad or worse than the Great Depression. That, despite the "irrational exuberance" exhibited today by a Wall Street that seems to be in utter denial.

Then, where we had hoped when today's show began to bring you the long overdue good news that Wisconsin's Democratic Governor Tony Evers finally did the right thing on Monday morning by issuing an Executive Order to postpone tomorrow's Presidential Primary, state Supreme Court election and municipal races until June 9, we were forced to change course mid-show after the state's Rightwing Supremes blocked Evers' order along a 4 to 2 party line vote.

Therefore, unless something changes, where Badger State voters can find an open polling place tomorrow (scores of municipalities found zero poll workers willing to face death to man the polls, and Milwaukee's usual 180 polling sites are being reduced to just 5!), voters will have to risk their lives to cast a vote in person on Tuesday. After Republicans had their way with the state Supremes, they have also filed with the U.S. Supreme Court to overturn an order by a federal judge last week that allowed 6 extra days for voters to turn in absentee ballots, many of which have not yet even arrived to voters on the day before the Election (when they would otherwise be due.) After air time, it appears that the stolen Republican Majority on SCOTUS has also decided with their GOP brethren in WI, and voted along party lines to overturn the federal judge's extension of the deadline for absentee ballots. Tens of thousands will be disenfranchised in the bargain.

It is a chaotic mess and electoral disaster. But, more to the point, it is a DEADLY disaster in the making, with Republicans in the state all too happy to condemn voters to potential death because they think more Democrats will be affected and possibly killed, and they hope that their incumbent Republican state Supreme Court Justice, who is on the ballot on Tuesday, will prevail under these conditions. It is appalling and Americans should get ready for much more of this in the months ahead, with more than 20 states still to cast their postponed primary votes, and all 50 states preparing to figure out how to run an election during a deadly pandemic this November. One of the two major parties has made clear that they are more than happy to place their retention of political power over the lives of actual American citizens.

Finally, today, we open up the phones to allow a few callers from the coronaverse to ring in....

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On today's BradCast: We are finally beginning to hear, at least from some in the media, about the unprecedented and nearly inconceivable depth of the crisis that coronavirus will wreak on both the lives of Americans and the U.S./world economy. But, for the moment, it's already wreaking havoc on the Presidential Primary election astonishingly still scheduled for this Tuesday in Wisconsin! And, in not unrelated news, employee health care plans, so zealously guarded during the peak of the Democratic Presidential Primary earlier this year, may have actually helped make the pandemic worse than it needed to be in the U.S. [Audio link to full show is posted at bottom of article.]

First up, Florida's mini-Trump Governor Ron DeSantis finally gave up the Fox "News" denial ghost on Wednesday and issued a statewide Stay-at-Home order for the Sunshine State. How many lives might have otherwise have been saved had he acted sooner, as health experts had been long imploring, remains to be seen.

But it's not only Republican Governors who appear in denial about the issue. Wisconsin's Democratic Gov. Tony Evers, while responsibly issuing a statewide Stay-at-Home order on March 24, has nonetheless been supportive of the state holding its Presidential Primary, statewide Supreme Court election and municipal contests as scheduled NEXT TUESDAY, on April 7, in the middle of a global pandemic! (Not to mention amid his own Stay-at-Home order!) While Evers says that only the Republican-majority legislature has the legal authority to postpone it or mandate an all-mail election, state GOPers have agreed with the Governor's plan to move forward as scheduled. The result is already catastrophic.

There is a massive shortage of poll workers across the state, with more than 100 communities having no poll workers at all as of yesterday, with an overall shortage of some 7,000 workers in 60% of the state's municipalities. Evers has now called in the National Guard to work the polls, but it appears to be too little too late. The matter now comes down to the decision of a federal judge as to whether to postpone or not, as the Wisconsin Election Commission argues that large numbers of absentee ballots may never arrive in time for voters, and might never be counted at all, due to a simultaneous deluge of incoming absentee ballots that officials appear wildly unprepared to handle.

I only hope that the more than twenty states which have postponed their primaries (somewhat optimistically) to May or June are taking note of the ongoing meltdown in the Badger State, and that all 50 states get to work NOW to figure out how to safely, transparently and accurately manage the likely need for Vote-by-Mail elections across the nation for the never-more-critical Presidential election on November 3rd.

As we have been trying to underscore in recent days, the effect of the novel coronavirus is likely to be far more extensive --- both medically and economically --- than almost anybody has been discussing out loud, especially our national leaders and the media. Donald Trump and his White House have, of course, been in criminally obscene denial from the jump, but members of Congress and even presumptive Democratic Presidential Nominee Joe Biden have not been much better at telling the truth to the American people about how deeply devastating this crisis is going to be to the economy and how long it is likely to continue.

Today, the New York Times finally began doing so, a bit, in two different articles. One from Jim Tankersley reveals that top White House economists on the National Security Counsel warned about exactly this scenario in a study published last September, long before Trump and his public-facing economic team repeatedly lied to the media about the virus being under control and no threat to the economy. The other Times piece, from reporter Peter Goodman, details how the economic downturn is likely to continue "into next year, and even beyond" and why the almost certainly lengthy "abrupt halt of commercial activity threatens to impose economic pain" that could take years to recover from in what is shaping up to be "a financial crisis of cataclysmic proportions". One result, according to a recent analysis by the St. Louis Fed, is that as many as 47 million Americans could find themselves unemployed soon. (That amounts to an approximately 32% jobless rate, compared to 25% during the Great Depression and 10% in the 2008 Great Recession.)

So, how are those employer-based health care plans looking right about now for millions of Americans who have already or are about to lose both their jobs AND their health care insurance? At the height of the still-ongoing Democratic Primary, the case was made by candidates like Joe Biden and Pete Buttigeig and Amy Klobuchar that such plans were just too good for Americans to give up in favor of a single-payer, government-funded, cradle-to-grave, Medical-for-All type plan, like that proposed by Bernie Sanders and Elizabeth Warren. But our guest today, former healthcare insurance executive turned political columnist and host of The Zero Hour, RICHARD 'RJ' ESKOW, argues at The American Prospect that the structure of many of those employer-based plans --- and the way most such coverage has been structured since the 1980s in the U.S. --- may have resulted in the pandemic's spread being worse than it might otherwise have been in this country, were it not for "a plot twist worthy of H.G. Wells".

Eskow explains how the timing of the viral spread in the U.S. --- at the beginning of the year, instead of year's end, after costly deductibles may have already been covered by many --- might have prevented thousands from seeking care earlier.

"You have 70%, according to polls, of Americans saying they don't have $1000 on hand for an emergency, and you have deductibles on average that are higher than that," he says. "Most people don't meet their deductibles in the first quarter of the year. The pandemic struck in the first quarter of the year. They literally have to pay 100% out-of-pocket at this point. Maybe they'll get reimbursed someday, but remember, they don't have the cash on hand. So we have a situation where people almost certainly are not getting checked out as quickly as they should be, which is promoting the spread of the disease and worsening the progression of the disease for people who have it."

He also details how the cost-sharing structures of most "health benefit plans" --- requiring co-pays, deductibles, premiums and other out-of-pocket "cost sharing" expenses, as implemented by employers and health insurance companies to actually discourage care-seeking ("skin in the game", as many have referred to the concept over recent decades) --- has further helped to unnecessarily worsen the crisis in a way that a Medicare-for-All styled system might have helped to avoid.

Eskow, who served as a Senior Writer and Editor for Sanders' 2016 Presidential campaign, also discusses what effect, if any, all of this may be having on the Vermont Senator's insistence on remaining in the race until a nominee is officially chosen, somehow, at some version of a Democratic National Convention this year...

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As Congress fights over its promised $2 trillion "Phase III" relief bill in response to the coronavirus pandemic, we've got some dumb questions for our guest about it all on today's BradCast.

But first, some of the latest news from around the world and the nation. India announced a 21-day lockdown for all residents, including "a total ban on venturing out" of the house, according to President Narendra Modi on Tuesday. That lockdown for all of India's 1.3 billion citizens, in a nation with three of the world's 10 most densely populated cities, comes after just 469 identified cases of COVID-19 and 10 deaths there.

That is by way of contrast with New York, where its "only" 20 million residents are now facing more than 25,000 reported cases and at least 157 deaths, as the number of cases is now reportedly doubling every three days. The most infections are in New York City, which does not even make the list of the world's 10 mostly densely populated cities. The state's Gov. Andrew Cuomo on Tuesday is expressing growing frustration with the federal government, after they received just 400 ventilators in New York City, despite a need for as many as 30,000. They also estimate that as many as 140,000 hospital bed will be needed for virus patients, while only 53,000 are currently available. The state, the Governor says, has not "flattened the curve," which he describes as "actually increasing" despite the statewide stay-at-home order issued late last week.

At the same time, Donald Trump is attacking Cuomo for some reason or another, while lying about GM, Ford and Tesla "right now" making ventilators "FAST!". They are not and likely will not be doing so for a number of weeks or even months at earliest.

Nonetheless, on Tuesday, Trump suggested that by Easter (April 12), he hopes to roll back the current White House recommendations for social distancing in order to try and save the economy --- apparently no matter how many Americans he helps kill in the bargain. And it could be millions dead if he follows up with the action that he and Fox "News" have been suggesting and threatening of late, while the President of the United States continues to misleadingly argue that "we can't let the cure be worse than the problem." The "problem" for Trump, in this case, is not dead Americans. It's a tanking economy that he fears may harm his reelection chances.

But while Trump is busy lying and misleading in televised briefings and Fox interviews, Republicans and Democrats in Congress are trying to pass a record $2 trillion emergency relief package and claim they are close to reaching an agreement. That, after House Speaker Nancy Pelosi and House Democrats, frustrated with GOP intransigence on the Senate side on Monday night, released their own 1,400 page proposal called "The Take Responsibility for Workers & Families Act" which would pump hundreds of billions toward hospitals, health care workers and emergency medical coverage while expanding unemployment insurance, medicaid, food assistance programs, offering $500 billion in loans and grants to small businesses, help on some student loan debt, and immediate cash assistance to everyone in America.

We're joined today by The American Prospect's Executive Editor, longtime financial journalist DAVID DAYEN to explain the proposed bills and answer several "dumb questions" of mine about how the bailout programs might be structured to actually ensure help to individual Americans rather than corporate interests. One is my question about his thoughts on my own bipartisan stimulus proposal for a bailout that would let corporations keep the huge tax cuts they received in 2017 (stimulus that many of them have squandered) in exchange for the same amount of direct cash payments to individuals now and in the future, until such time as both can be stopped when the emergency is over.

Another question is whether all rent and mortgages can simply be paused until the crisis is over. Dayen tells me that is called "forbearance" and a version of it was actually included in the proposal Pelosi introduced last night. Whether it will remain in the Senate bill, of course, remains to be seen.

Dayen, who wrote an award-winning book on the 2008 financial meltdown, also offers a likely explanation for Trump's threatened plan to try and re-open the country for business after Easter, and whether the economic damage wrought by the current pandemic is likely to be even worse than the 2008 mortgage disaster.

Also, the two excellent recent stories by David at The Prospect that I quickly referenced on today's show:

• "Mind the Trust Gap" - The story of scarce face masks during a pandemic points to a greater failing: Government has placed corporate greed above the public good.
• "An Iowa-Style Voting Disaster in Los Angeles": A new voting system led to a debacle on Super Tuesday in the City of Angels. With similar machines in critical states like Georgia, election experts are raising alarm. (As noted, I am liberally quoted throughout that one, but it is an excellent piece anyway!)

Finally, Desi Doyen joins us for the latest Green News Report in these grim times, with a few more "bright" lessons we can take from the coronavirus fallout around the globe, several ongoing and pending climate crisis-related disasters in African and the U.S. Midwest, and California's largest utility company pleading guilty to 84 counts of involuntary manslaughter. (Told ya these were grim times!)

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To quote Donald Trump when he thought the cameras had stopped rolling after his disastrous Oval Office address last week: "Oooookaaay...." So, we are now living in a new world. For the time being. Millions are being instructed to stay home from work. Markets are tanking. Major states and cities are shutting down schools, restaurants, bars, clubs, theaters and casinos. Some are instituting full "stay at home" lock-down orders. And Congress is scrambling to pass emergency legislation to try and help displaced workers and families as the coronavirus crisis threatens to shut down the nation entirely for weeks, months or longer. All of this amidst a Presidential election under the most dangerously inept and dishonest Administration in the history of the nation.

On today's BradCast, we try to get you caught up with the unfolding, bizarre and disorienting mess that we are all going through together in hopes of "flattening the curve" of the rate of infections to try and ensure that the U.S. hospital system doesn't become overwhelmed with patients. Like you, we have no idea how this is supposed to work, but we're all working through it together, even as Trump literally told the nation's Governors today they are on their own in coming up with enough respirators and other medical equipment to keep their residents alive, and as he continues to lie to the country about the availability of testing and eventual arrival date of a vaccine (which is most likely more than a year from now, even as a single live test began today).

And, speaking of that Presidential election, states --- particularly those which are touchscreen-voting heavy, like Louisiana, Georgia and Ohio --- are beginning to announce postponements of their primary elections. Ohio's Governor has attempted to do so before tomorrow's planned election that was to be held along with Florida, Illinois and Arizona. But a state judge, late today (minutes ago, justt after we got off air) has now blocked the Republican Ohio Governor's attempt to postpone. So, full-on chaos for a change in the Buckeye State tonight. The other three big states (at least at this hour) are planning to go through with their own elections tomorrow, even as polling sites at senior citizen centers are requiring last-minute relocation and frequently-elderly poll workers are (justifiably) calling in to cancel.

Other states, such as New York are considering postponement, while Maryland considers moving to all-Vote-by-Mail primaries. More than a dozen states, such as Texas, do not even currently offer no-excuse absentee voting. That needs to change. [CORRECTION: I had initially cited Pennsylvania as one of those states that do not allow no-excuse absentee voting. In fact, no-excuse absentee voting was instituted late last year as part of a package of election reforms in the Keystone State. My apologies for the error!]

We cover all of that AND wave very briefly at Sunday's Presidential Debate (which we hope to revisit in a bit more detail soon - but we'll see) before opening the phones to check in with callers today, including one from Minneapolis who describes the situation there as dire, others from Southern California who wonder where the head of the CDC has disappeared to, and another who questions both the threat and infection numbers currently being reported. All of that and way too much more on today's BradCast...

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On today's BradCast: Donald Trump's error-laden prime-time speech to the nation from the Oval Office on Wednesday night did little to ease the nation's anxieties over the coronavirus pandemic. In fact, it appears to have made things much worse in a number of ways.

The Dow Futures market plummeted as his remarks began, with the DJI closing down more than 2,300 points on Thursday. In all, after hitting a record high just weeks ago, the markets have lost nearly 90% of the gains they've seen since Trump took office in January of 2017. One more day like this and all of those gains will be lost. So much for "rocket fuel to the economy".

Fortunes on Wall Street, however, may be the least of the country's problems right now. Trump's announcement on Wednesday night called for a travel ban from all European countries other than the United Kingdom (for reasons that no one seems able to explain) and for the payroll tax cut he's been seeking for months (long before the virus), which few experts believe will be much help amidst this worsening epidemic. Moreover, no sooner did Trump finish his teleprompter remarks than the White House had to begin issuing corrections to them. No, trade and cargo would not actually be banned from Europe, as Trump claimed, and the health insurance industry didn't actually agree to offer free coronavirus treatments to all as the Liar-in-Chief claimed Wednesday night.

Europe was blindsided by the announcement, and it was left to Democratic Presidential candidates Joe Biden and Bernie Sanders to try and calm an anxious nation today with their own speeches addressing the crisis as Trump continues to refuse to declare a national emergency because it would reveal he had lied about the epidemic for weeks. (And apparently he needs to get Jared's permission first.)

The NBA, NHL and Major League Baseball all announced they are suspending their seasons, the NCAA cancelled their March Madness tournaments, Disneyland will be closing their doors, and Tom Hanks announced that he and his wife Rita Wilson have both contracted COVID-19, the disease caused by the virus.

But what about the upcoming primary and general elections? Are we really going to continue asking voters to stand in long lines with hundreds of people to vote on potentially virus-infected touchscreen voting systems? As it turns out, hand-marked paper ballots still moist from hand-sanitizer also caused problems this week in New Hampshire's municipal elections, jamming optical-scan tabulators at precincts.

The U.S. Vote Foundation, led by former GOP Chair Michael Steele, is now calling on Congress to immediately pass legislation requiring every state in the union to allow no-excuse absentee/Vote-by-Mail ballots for all voters. And while I am no fan of Vote-by-Mail usually (other than in jurisdiction where voters are forced to vote on touchscreen voting systems at the polls), it's looking more and more like we are all going to be voting via VBM this year if the virus continues on its current trajectory.

We cover all of that and much more on today's show, before ending on a "lighter note"...with Desi Doyen and our latest Green News Report (which, believe it or not, actually has a quite a bit of welcome good news today...at least once we get past the coronavirus part of it anyway.)

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"Can I get a witness?" That appears to be the big question, at the moment, for Democrats in the historic U.S. Senate Impeachment Trial of President Donald John Trump. On today's BradCast, we offer special coverage of the beginning of the trial, which, at least for today, is turning out to be a trial about whether there will be a real trial or not, with evidence, documents and witnesses, as Republican Majority Leader Mitch McConnell and his caucus seem prepared to do everything in their power to ensure there will not be such an actual trial. [Audio link to show is posted below.]

Before we get to today's action in the Senate, we bring you up to date on the holiday weekend's pre-trial briefs presented by the Democratic U.S. House Managers, who are serving as prosecutors for Trump's two Articles of Impeachment on Abuse of Power and Obstruction of Congress, and the brief responses filed by the White House defense team.

Newly added to to Trump's legal team is hypocritical TV attorney Alan Dershowitz, who spent his weekend arguing on the Sunday news shows that the Articles were invalid because they did not include a specific crime. "You need proof of an actual crime," he argued. That, by way of contrast with Alan Dershowitz in 1998 during the Bill Clinton impeachment when he argued, literally, "it certainly doesn't have to be a crime" that qualifies a President for impeachment.

Trump's 6-page response to the Impeachment Managers 111-page brief describes the Impeachment as a "brazen and unlawful attempt to overturn the results of the 2016 election and interfere with the 2020 election" (which is what he is actually accused of doing in the Articles for which he is being impeached), and as "nothing more than a dangerous attack on the American people themselves and their fundamental right to vote." That's right. Donald Trump is now pretending to be concerned with the "fundamental right to vote." That, in the middle of an impeachment trial where he is accused of attempting to cheat in his 2020 reelection contest by withholding hundreds of millions of dollars in Congressionally-allocated military aid for war-torn Ukraine in hopes of forcing them to create dirt he can use against Joe Biden and other Democrats.

Tuesday's opening agenda was on the adoption of McConnell's proposed rules for the trial that would postpone votes on whether to include witnesses and documents previously blocked by the White House during the House's initial impeachment inquiry (the basis of Article 2's Obstruction of Congress charges) and even evidence gathered during the House Inquiry itself. Under McConnell's resolution, both sides would spend days in opening statements, and then take as many as 16 hours of written questions from Senators before they even vote on whether to allow witnesses or not. Legal observers have noted that is the opposite of how actual trials are carried out.

We share audio from today's terse opening statement by White House Counsel Pat Cipollone, followed by an extended excerpt from lead House Manager Adam Schiff on the unprecedented attempt to exclude all witnesses and documents from a Senate impeachment. No trial in the upper chamber of Congress has lacked witnesses since the founding of our nation.

As we went to air for today's BradCast (and as we write tonight), all Democratic amendments to McConnell's resolution, attempting to subpoena documents from the White House, the State Dept. and elsewhere, and for witness testimony, have been rejected along strict party line votes with all 53 Republicans voting to table the amendments, and all 47 Democrats voting to move forward with the subpoenas.

Also today, a few quick points of news elsewhere regarding the public fight to stop the controversial certification of new, 100% unverifiable touchscreen voting systems in Los Angeles County and the massive gun rights demonstration (over nothing) held on the Martin Luther King Day holiday in Virginia.

Finally, Desi Doyen joins us for the latest Green News Report, with exceedingly disturbing news about ocean warming, slightly more encouraging news about Wall Street beginning to wake up to worries about our climate crisis, and a big loss (for now) in the federal climate change lawsuit filed by a group of kids in California...

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On today's BradCast: Democrats propose a new tax on Wall Street traders that could both put the brakes on market volatility that threatens the investments of average Americans, while raising billions of much needed dollars for the federal government. [Audio link to show follows below.]

But first, some good news for the nation out of California. Newly elected Democratic Governor Gavin Newsom has now signed an executive order placing a moratorium on the state-sanctioned killing of some 737 individuals on the state's death row. Describing the death penalty as "discriminatory" and a "failure" that has resulted in the deaths of "wrongly convicted" people proven innocent, while costing the state billions of dollars, the Governor has now blocked the barbaric planned executions of about one quarter of those slated to be killed by governments across the nation.

"It’s a very emotional place that I stand," Newsom said at a presser today, "This is about who I am as a human being, this is about what I can or cannot do. To me this is the right thing to do." As we discuss, it's not the first time that Newsom, as a public official, has placed doing the right moral thing over what may or may not be politically popular, at the moment, among the electorate.

Back in Washington D.C., Donald Trump's former campaign chairman Paul Manafort was sentenced to an additional 73 months for criminal conspiracy fraud and witness tampering on Wednesday. Some of those months will be served concurrently with the 47 months he was sentenced to last week in a Virginia federal court related to undisclosed lobbying for a pro-Russia political party in Ukraine. With the partially concurrent sentencing, the 69-year old Manafort now faces nearly seven years in prison.

While none of the 20 or so federal counts in two different courts that Manafort was found guilty of had charged "collusion" with Russia for interference in the 2016 election, his attorney and Donald Trump used the occasion once again to lie about that fact to the American public today. But just minutes after today's new sentencing, Manhattan's District Attorney announced 16 new indictments against Manafort in state court related to mortgage fraud and more than a dozen other crimes for which, if found guilty, the President would be unable to pardon him. Trump's pardon power extends only to federal, not state crimes.

As the madness surrounding our criminal Presidency continues, Democrats in Congress are pushing ahead with a number of progressive policy proposals in advance of 2020 to hopefully help pull the nation out of its current self-imposed morass and rebalance some of the worsening inequities between the wealthy, the poor and the middle class. Senator Brian Schatz (D-HI) and Congressman Pete DeFazio (D-OR) have now introduced new legislation that would create a very small, 0.1%, Financial Transaction Tax (FTT) on every stock market transaction. The bill [PDF] --- which already has a number of Democratic cosponsors in the House and Senate, including among Presidential hopefuls --- is estimated to raise as much as $800 billion in much-needed revenue for federal coffers over ten years. As importantly, the measure is designed to ease market volatility by curbing the legalized skimming that takes place by high volume computer traders who purchase trades from normal investors and sell them back to the investors at a higher rate, all within a fraction of a second.

The legislation is supported by some 60 non-partisan good government organizations, including Public Citizen. Attorney SUSAN HARLEY, Deputy Director of the group's Congress Watch division, joins us today to explain this new move toward an FTT that would cost traders one-tenth of a cent per dollar traded. That's $1 for every thousand invested or, as Harley explains, "Ten cents out of every 100 dollars traded. That's why we like to talk about it as rebuilding Main Street on Wall Street's dime."

"We do pay taxes on all of our purchases," she tells me. "so Wall Street should be doing the same as far as these stocks trades, bond trades, and derivative trades. It absolutely is about fairness, about making sure Wall Street is paying back the US because we did bail them out for the financial crash."

She details how the proposal is ultimately a very progressive tax, even as it's very small, because it would largely fall on the wealthy. "We've really got to re-balance our tax code, and unrigging our economy starts with making Wall Street pay its fair share. The top 1% of society owns two thirds of all financial securities."

"We did research on existing fees --- things like commission, overhead costs, broker fees. The Financial Transactions Tax would be only about $80 for the average 401k or retirement saver, versus more than $1000 in existing fees. That's just the average. Some funds have existing fees of more than $2500 dollars. So, it really is a drop in the bucket as compared to the existing commissions and other types of ways that Wall Street is taking it out of the pocket of average investors."

Harley discusses both the legislation's challenges and growing political support on Capitol Hill, where the Trump/GOP 2017 $1.5 trillion tax cut, largely for corporations and the wealthy, has resulted in record trillion dollar annual deficits and a recent budget proposal by Trump to cut more than a trillion dollars from social programs like Medicare, Medicaid and Social Security. (He had vowed to not cut those programs during his 2016 campaign, while suggesting that Democrats would do so.)

Finally, speaking of progressive policy proposals, the recently introduced Green New Deal is already paying off. Rightwingers have been freaking out about it, and lying about it, but they are also scrambling to respond after realizing its huge popularity among the electorate and how silly they look. Several longtime climate science deniers, including Trump acolyte and accomplice Rep. Matt Gaetz (R-FL), are now taking baby steps by conceding that "climate change is real" and "humans contribute". Soon they may even notice that, according to climate scientists, human activity is actually responsible for 100% of the warming we've seen to date. But, hey, it's a start...

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