Let Stocks Keep Us Healthy

To the Editor: I am writing in response to the letter of Stuart Eber, president of the Council of Municipal Retiree Organizations, in the March 19 issue of The Chief-Leader. Apparently, many of us retirees from city service are going to have our Medicare Part B insurance handled by an entity of which we know nothing, and without our input. Mr. Eber is angry, and so am I, now that I know of this situation.

However, neither of us need be angry. New York State and New York City could provide single-payer health care to all who live in the state and the city by simply applying a tax that is already on the books. This is the stock-transfer tax, in effect since 1909, but waived since 1981. That is, the tax is on the books, but is repaid to those who buy and sell stocks, even in cases of trading done automatically by computer. We are not talking about small investors who are trying to improve their savings. We are talking about big business, and businesses should pay taxes like the rest of us.