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CEO group touts tax hike to help unemployed workers

Wednesday, 30 July 2008 19:00

YOUR WALLET

By Francine Knowles. Chicago Sun-Times.

A group representing the chief executives of Citigroup Inc., Goldman Sachs Group Inc. and other U.S. financial firms proposed raising taxes by $22 billion to give unemployed workers health insurance, job training and other benefits.

The Washington-based Financial Services Forum said Wednesday the plan is intended to ensure that the U.S. doesn't turn away from trade agreements and investment policies.

''There are real risks and challenges that workers face,'' said Matthew Slaughter, a former economic adviser to President Bush and an author of the report.

The report by Slaughter, Grant Aldonas of the Center for Strategic and International Studies and Robert Lawrence of Harvard University follows one by the group last year on how to expand programs for workers hurt by global competition.

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The Financial Services Forum is a non-partisan financial and economic policy organization comprising the CEOs of 20 of the largest and most diversified financial services institutions doing business in the United States.

The purpose of the Forum is to pursue policies that encourage savings and investment, promote an open and competitive global marketplace, and ensure the opportunity of people everywhere to participate fully and productively in the 21st-century global economy.