Tax the Traders! Make Wall Street Pay its Share With a "Tobin Tax" -Ellen Hodgson Brown

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sent by kladner since 12 days 8 hours, published about 12 days 5 hours 18 minutes
"Wall Street owns the country. It is no longer a government of the people, by the people, and for the people, but a government of Wall Street, by Wall Street, and for Wall Street. Our laws are the output of a system which clothes rascals in robes and honesty in rags." -1890 speech by Populist leader Mary Ellen Lease, thought to be the prototype for Dorothy in The Wizard of Oz
tags: derivatives, gamblers, tax-free
5 commentscategory: Progressive Issues karma: 192

comments

  1. #1    This is exactly correct. Transaction tax on all transactions. At the retail level, it's so small it's unnoticable, but in deals where the margin is .1%, a .25% tax is a deterent.
    written by CwV since 12 days 7 hours 49 minutesCwV
  2. #2    This tax before a VAT.
    written by kladner since 12 days 7 hours 47 minuteskladner
  3. #3    Tax them everytime they sell an 'instrument' back and forth to inflate its value.
    written by epppie since 12 days 5 hours 2 minutesepppie
  4. #4    Such a tax is a key feature of the funding mechanism of HR 676 -- hence it hasn't seen the light of day, and never will, as long as the DP or RP are in power.
    written by nasrudin since 12 days 3 hours 58 minutesnasrudin
  5. #5    Financial speculation drives up prices without adding any value. Punitive taxation is just what the doctor ordered.
    written by Drewfromct since 12 days 3 hours 2 minutesDrewfromct
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