Reduce the debt one transaction at a time

Discussion in 'Politics' started by rightwinger, Dec 4, 2012.

  1. rightwinger
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    rightwinger Paid Messageboard Poster Gold Supporting Member Supporting Member

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    Spitzer

    Here is the idea: A tax of less than half a percent on every $100 of stock sales or sales of other financial instruments including bonds, derivatives, and options. The tax could raise anywhere from $170 billion to $350 billion per year depending how it was applied. Extend that over 10 years, and we are raising almost what the White House and Republicans agree needs to be raised in order to accomplish the objectives of a grand bargain.

    But there is an added benefit here: Trading in the equity and debt markets has gone wild over the past few years. High-speed trading and speculation have overtaken the economically legitimate reasons for our desire to have highly liquid markets: the capacity to raise capital and then allocate it efficiently among sectors and companies. The trading that has emerged over the past few years is not serving that purposeĀ—it is a casino enterprise driven by hidden pools and computer algorithms that do not seek to hold capital for longer than an instant.

    We are all used to paying a sales tax when we buy thingsĀ—almost 9 percent here in New York City. The application of this concept to the financial sector could solve our need for revenue, bring some sanity back into the financial sector, and give us a way to raise the revenue we need to run the government in a fiscally responsible way. Maybe this is the old idea that we need folks in D.C. to pay attention to again.
     
  2. LogikAndReazon
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    LogikAndReazon Gold Member

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    Every solution to every problem for these redistributionist marxist hacks is another tax...........

    Their greed for the unearned is staggeringly pathetic
     
  3. WillowTree
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    WillowTree Diamond Member

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    Increase the tax by ten percent on those 200 dollar nikes and let the poor pay their fair share whydon'tchya?
     
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  4. TakeAStepBack
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    TakeAStepBack Gold Member

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    This is the beginning of our federal governments desperation for more revenue. The protectionist policies will build and build until there is nothing left to take except to auction off people's property to our creditors. There is nothing they are not willing to take from teh private sector to quench their thirst for anoother round of spending and it will never change.
     
  5. TakeAStepBack
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    TakeAStepBack Gold Member

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    In the end, they will get it all. Because they have the self imposed authority to coerce or use violence to get what they deem is theirs. Just another ring in the tree of circular history.

    The sad part is, half of the public is onboard for it. Not realizing that eventually, they will come for what you have too. No matter how meager it may be.
     
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  6. CrusaderFrank
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    CrusaderFrank Diamond Member

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    Tax every Obamaphone too
     
  7. rightwinger
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    rightwinger Paid Messageboard Poster Gold Supporting Member Supporting Member

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    It reminds me of Herman Cains 9-9-9 plan

    only cleaner
     
  8. rightwinger
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    rightwinger Paid Messageboard Poster Gold Supporting Member Supporting Member

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    Good analogy

    If I pay $200 for a pair of Nikes I pay a 9% sales tax in New York

    Why don't you pay a sales tax for $200 worth of stock?
     
  9. ba1614
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    ba1614 Silver Member

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    1/2% on every hundred, then 3.8% on net investment income through obummercare starting Jan 1.

    Poor America
     
  10. Freemason9
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    Freemason9 Gold Member

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    If you are REALLY concerned about the level of authority the government will use to "coerce or use violence" to gain complete control, then you should absolutely support drastic reductions in military spending, "intelligence agency" budgets, and police forces.

    Because you seem to fear a police state--and the only way to eliminate a police state is to defund it.

    Which is why the right wing seems so schizo . . . they want a giant military and oppressive police forces and incredible prison sentences, and then they cry about losing freedoms. DUH
     
    Last edited: Dec 4, 2012

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