02-14-2016, 08:15 AM
I get where you're coming from Cutz, but I don't see Sanders as a crackpot at all. He's really more what he's labeled himself, a democratic 'socialist', in my view.
As for the tax on high volume speculative financial transactions, it isn't a new concept in the U.S. and is already in place or approved for implementation in many European and Asian markets, in various forms, and at higher rates.
I do not believe that a 1/20% tax would move investment to other countries or even deter such trading much, I like that it isn't a consumer tax, and I think it's fair to tax Wall Street on such transactions. Plus, FTT has been done in the U.S. before to generate needed revenue and is also what funds the SEC.
So, I disagree with you and and those who oppose the tax. I agree with the hundreds of economists in the U.S. and across the globe who support such a tax to help repay for the destruction associated with mass irresponsible high volume speculative trade which leads to crashes and bail outs that cost the tax payers billion of dollars. Some related refs: http://cepr.net/documents/ftt-facts-myths.pdf , http://usuncut.com/politics/170-top-econ...ll-street/
Whether the revenue generated from a speculative financial transaction tax would be best spent on making U.S. public universities tuition-free is a separate question. If such a tax were to be implemented and generate hundreds of billions USD, there are a lot of productive ways it could be spent for the betterment of society.
I agree with you that there will never be a prosperous society where equality for all is achieved. But, I absolutely support the goal of creating more equal opportunities for everyone to succeed/contribute, regardless of background or status. Rather than offering financial reparations for past generational discrimination or increasing welfare caps, I'd like to see the next generation of those born into poverty and low income families be given the opportunity to get a good education or vocational training after high school; that could potentially improve the quality of a lot of lives now and in the next generations.
Of course, education/training doesn't always = job opportunities and elevated income, but if there are jobs to be had, it helps. Plus, in my opinion, knowledge and skills benefit a person and communities in non-financial ways as well.
P.s. I don't know if you're getting more mature and discerning or just more narrow-minded, jaded, and less able to see the good with the bad -- those are side-effects of aging for many, I think.
As for the tax on high volume speculative financial transactions, it isn't a new concept in the U.S. and is already in place or approved for implementation in many European and Asian markets, in various forms, and at higher rates.
I do not believe that a 1/20% tax would move investment to other countries or even deter such trading much, I like that it isn't a consumer tax, and I think it's fair to tax Wall Street on such transactions. Plus, FTT has been done in the U.S. before to generate needed revenue and is also what funds the SEC.
So, I disagree with you and and those who oppose the tax. I agree with the hundreds of economists in the U.S. and across the globe who support such a tax to help repay for the destruction associated with mass irresponsible high volume speculative trade which leads to crashes and bail outs that cost the tax payers billion of dollars. Some related refs: http://cepr.net/documents/ftt-facts-myths.pdf , http://usuncut.com/politics/170-top-econ...ll-street/
Whether the revenue generated from a speculative financial transaction tax would be best spent on making U.S. public universities tuition-free is a separate question. If such a tax were to be implemented and generate hundreds of billions USD, there are a lot of productive ways it could be spent for the betterment of society.
I agree with you that there will never be a prosperous society where equality for all is achieved. But, I absolutely support the goal of creating more equal opportunities for everyone to succeed/contribute, regardless of background or status. Rather than offering financial reparations for past generational discrimination or increasing welfare caps, I'd like to see the next generation of those born into poverty and low income families be given the opportunity to get a good education or vocational training after high school; that could potentially improve the quality of a lot of lives now and in the next generations.
Of course, education/training doesn't always = job opportunities and elevated income, but if there are jobs to be had, it helps. Plus, in my opinion, knowledge and skills benefit a person and communities in non-financial ways as well.
P.s. I don't know if you're getting more mature and discerning or just more narrow-minded, jaded, and less able to see the good with the bad -- those are side-effects of aging for many, I think.