Let's check Bernie's math on free college

[MarathonMike]

Uncle Bernie says he can fund free college tuition for all by taxing "speculative" trades on Wallstreet. Hmmm says I, but let's see if he's even in the ballpark. In 2015 there were about 20,000,000 registered students attending college. For a working estimate let's say that their average tuition, books and board costs were 25,000 (total SWAG but humor me).
From NYSE trade statistics I see that on an average trading day there are around 7 million trades per day. Let's be generous to the Bern and call them ALL speculative trades. And let's say each trade cost the trader 100 dollars in taxes and that there are 250 trading days in the year.

Total tuition costs in 2015 20Mil * 25K = $500 billion
Total tax revenue on trades: 7Mil*100*250 = $1.75 billion

Granted that's just one exchange, but unless you charge many thousands of dollars in taxes per trade, Bernie's math appears way short. I made several assumptions, so speculative traders pls weigh in as I am not a trader. The math does not look like it works out.

 

[Pete7469]

Correcting moonbat math is like polishing a turd.

 

[C_Clayton_Jones]

One of many reasons why Sanders won’t be the nominee.

 

[oreo]

Uncle Bernie says he can fund free college tuition for all by taxing "speculative" trades on Wallstreet. Hmmm says I, but let's see if he's even in the ballpark. In 2015 there were about 20,000,000 registered students attending college. For a working estimate let's say that their average tuition, books and board costs were 25,000 (total SWAG but humor me).
From NYSE trade statistics I see that on an average trading day there are around 7 million trades per day. Let's be generous to the Bern and call them ALL speculative trades. And let's say each trade cost the trader 100 dollars in taxes and that there are 250 trading days in the year.

Total tuition costs in 2015 20Mil * 25K = $500 billion
Total tax revenue on trades: 7Mil*100*250 = $1.75 billion

Granted that's just one exchange, but unless you charge many thousands of dollars in taxes per trade, Bernie's math appears way short. I made several assumptions, so speculative traders pls weigh in as I am not a trader. The math does not look like it works out.

Bernie Sanders is a joke. Right now it is mathematically impossible for Bernie Sanders to win the nomination. He would need to win 3 out of every 4 delegates in all the remaining states, and we're headed into some large closed primary states where he gets clobbered. New York, Pennsylvania, Connecticut, and the biggest California. She has a 2+ million popular vote lead over him right now. The 580 Democrat Super Delegates are going to stay with Hillary Clinton, and not move over to some looser that just changed his party status to run on this ticket.
It’s Really Hard To Get Bernie Sanders 988 More Delegates
Bernie Sanders’s path to the nomination is getting very narrow

Tonight he was hanging out in Wyoming at another college campus, promising free college tuition, so expect those supporters to show up at a 3 hour meeting to cast a vote for him on Saturday. I expect he'll win Wyoming, because in caucus states voter participation is typically less than 1% of either party. Had all of these caucus states he's won been primary states Hillary Clinton would have won all of them also, and his name would be a distant memory right now. At any rate a Bernie Sanders rally is just a side show right now.

 

[Agit8r]

Average daily trading volume of the NYSE was $169,000,000,000 as of 2013

It's higher now.