Our Economy Could Be In Surplus In Less Than A Year With A 1% Wall Street Sales Tax

reply to post by ThirdEyeofHorus


Maybe you think a return to feudalism is a good idea, but you couldnt be more wrong if you tried.

Feudalism is a slaves mentality.

reply to post by MidnightTide


Indeed, CDO's are making a comeback. So few people have a clue...

Derivatives that pool credit- default swaps to make magnified bets on corporate debt, popularized in the last credit bubble, are making a comeback as investors search farther afield for alternatives to bonds at record-low yields.

link

reply to post by Kali74


I think the transaction tax is a great idea. Even if we were to go to a zero deficit situation as of today, we still have dug such a deep hole. It's going to be hard to get out. Taxes should be increased on the wealthy to start paying the debt as well. They benefited from the borrowing most, they should pay.

I like this idea, if feasible.

I have questions, though.

I assume the 4 quadrillion per year sum applies to all trades, including sales. So assuming that, if you have some shares worth in total, say, 500 dollars, and you sell them (you lose 1% of what you sold them for,) then buy more shares (losing 1% of their value,) sell some of them (again losing 1% of whatever you sell them for,) and so on, if you conduct too many transactions at some point don't you end up losing 100% of value or at least enough value that trading becomes prohibitive?

Or would it be possible, even with heavy volume trading, to buy low enough and sell high enough to stay ahead of this effect? And would doing so make trading in any way more difficult for the average person (i.e. retirees, etc.)?

Peace.

Originally posted by jtma508
reply to post by LibertysTeeth

 

What? That's just plain stupid. What about the majority of Americans that have no Wall Street transactions? If Wall Street is such a sacred cow (clearly untouchable no matter how badly they anally ream the country) why are THEY doing so well yet the People are doing so poorly? Why are they too-big-to fail, too-big-to-prosecute yet the economy limps along?

You need to think beyond the end of your own nose. How many American's work for a company that is publicly traded? How many have their retirement invested? How many small businesses surround larger publicly traded businesses and those jobs are totally dependent on the health of the larger? How many small businesses rely on products created by the large publicly traded businesses every single day?

reply to post by ThirdEyeofHorus

The problem with your worldview is you assume that everyone who opposes Socialism must of necessity be extremely wealthy

Nono, sis. I have aunts and uncles who are not wealthy, and still follow Glenn Beck and religious-right thinking.
It's ridiculous and archaic.
Like I said, you have no idea to whom you are talking, or what you are talking about.

reply to post by poet1b


Ya, completely step out of the world stage in a globalized economy. Become an isolationist country. What could possibly go wrong with that?

Nice idea - but unless it was worldwide all that would happen is financial markets would move to somewhere there is no such tax.

They REALLY do not want to pay "their share"!

Originally posted by MsAphrodite
reply to post by poet1b

 

Ya, completely step out of the world stage in a globalized economy. Become an isolationist country. What could possibly go wrong with that?

It is not about becoming isolated. It is about globalism in a controlled manner that makes sense. Jewish-American globalism is calling russian-chineese globlism as mafia orientated. Look at cyprus lol.

There do need to be some protectionist measures in place, ie less outsourcing and automation. Keep unions strong but not corrupt. We could(more like need) to shut down some of our miitary bases stationed throughout the world and bring our troops here to secure our border. Look at all the illegals entering everyday stealing jobs from high school america. Why should they have to compete with illegals who work under the table and pay no ss, unemployment, disability, workers compensation, etc?

I have respect for people like ron paul and rand paul. The rest of conservatives are neo-cons like romney who want profits above everything else. They are wall street shills who push predatory capitalism.

reply to post by ThirdEyeofHorus

What would happen if suddenly your local property tax is not levied but people in stock markets were suddenly having to pay for all that stuff on a federal level.

So? What if? Good!

What you are advocating then is even more radical, that the wealthy have to pay for everyone's schooling and all the firemen and all the public school teacher's salaries and all the roads. Totally outrageous, not to mention it would centralized everything even more.

Nope! Not outrageous. Reasonable.

Originally posted by MsAphrodite
reply to post by Kali74

 

You do realize how many elderly, NOT at all rich people live off of capital gains, right?

I do given the fact that people can't live off SS and those elderly people have a higher standard of living from that investment at Wall Street of course that is until someone says tax them more.

reply to post by DaylightSavingsTime


Welcome to ATS! Thanks for your contribution. Looking forward to hearing more from you!

Originally posted by pjfry


Divided in halfs, you are weak.

From an outside view, as an european i have to say: listen to reason

The "socialized" consensus of Europe has so many problems, it makes the polarization of America a Capitalistic Utopia! Reason would dictate that Americas problems is the Worlds problem, and Europe's problem.

If we are going to let the World "play" with money, in its GIANT lottery, called the Stock Markets, I see no problem taxing those who play or are willing to play. Offsetting the debt via Wall Street, or any other Market where people are dumping large amounts of money, to make themselves rich wont harm anyone. Obviously anyone who gambles their money, know the risks of the Stock Market.

Why not fix our Debt problem, and the Worlds? Pay to play.

reply to post by sonnny1

For those who don't understand Wall Street. You are GAMBLING your money, when you "invest" your money.

And

For those who don't understand GOVERNMENT, They are taking your money and blow it and call it "investment".

Least with Wall Street WE pick what we want to invest in however with government everyone is a "winner".

reply to post by TauCetixeta

Wall Street is Free Market Capitalism in action

No Wall street is not free market capitalism .

A free market can only exist in the absence of government invertentionism between regulation,taxation, and the federal reserve

A "free market" doesn't exist, and has not existed in over 100 years.

Originally posted by neo96
reply to post by sonnny1

 

For those who don't understand Wall Street. You are GAMBLING your money, when you "invest" your money.

And

For those who don't understand GOVERNMENT, They are taking your money and blow it and call it "investment".

Least with Wall Street WE pick what we want to invest in however with government everyone is a "winner".

I hear ya.



If we are going to Tax Wall Street, the Tax cant harm small investors. Ma and Pa cant afford to be Taxed. But like I said, EVERYONE could lose their money tomorrow. If your willing to play, I don't see why you cant invest in fixing our debt problem. I would also like to see a two part process to it. Government has to stop printing money, and they have to fix the Big Government philosophy, that has us here in the first place. No tax for Wall Street unless these concessions come with it.

I'm willing to be taxed on my portfolio, provided the other problems are going to be fixed, or looked at.. If not, NO to taxing Wall Street. The current situation is going to doom us all, if it hasn't already. We need to look outside the box though.

Politicians should be taxed the highest. MHO

reply to post by sonnny1

If we are going to Tax Wall Street,

There is no "we" here I am against taxing them what is the logic of giving them more money to blow?

the Tax cant harm small investors.

Good luck with that after all "they have to pass laws before they read them".

Government has to stop printing money,

I agree when the value of the dollar decreases and old saying comes into play "the dollar doesn't buy what it use to".

I'm willing to be taxed on my portfolio, provided the other problems are going to be fixed, or looked at.. If not, NO to taxing Wall Street. The current situation is going to doom us all, if it hasn't already. We need to look outside the box though.

I am not No one should be paying income tax.

Originally posted by neo96


There is no "we" here I am against taxing them what is the logic of giving them more money to blow?

You have me there. We need real people in place, that care for the welfare of its citizens, not their OWN portfolios on Wall Street.

Originally posted by neo96
Good luck with that after all "they have to pass laws before they read them".

Again. We need to weed out the career politicians. It still leaves us with Massive debt that will and has bankrupted this Country. If that problem isn't averted first, you wont have a reason to worry about bills that are not being read.

Originally posted by neo96

I agree when the value of the dollar decreases and old saying comes into play "the dollar doesn't buy what it use to".

Yes, and those making all this money, will have a few more wheelbarrows full of it. Doesn't mean they will be sitting pretty in the end though.

Originally posted by neo96
I am not No one should be paying income tax.

I agree, but until "we the people" change it, it is here to stay. Maybe we do need a giant "reset button" to be pushed. I know this, all the bickering and polarization isn't helping our current situation, that's for sure.

reply to post by sonnny1

Yes, and those making all this money, will have a few more wheelbarrows full of it. Doesn't mean they will be sitting pretty in the end though.

Gotta disagree here as with all wealth at Wall and Broad that "wheel barrel full of cash" is just a number in an account in cyberspace.

Originally posted by neo96


Gotta disagree here as with all wealth at Wall and Broad that "wheel barrel full of cash" is just a number in an account in cyberspace.

I'm talking about hyperinflation, and History.

That is what happens when we spend, as a Country, beyond our means.........


Seems we are doomed to re-live it.