Sometimes the tree of prosperity needs to be watered

Capitalocracy

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Sun Sep-26-10 04:44 PM
Original message

Sometimes the tree of prosperity needs to be watered

Edited on Sun Sep-26-10 05:06 PM by Capitalocracy

with the taxes of the wealthy class.

Renew the Bush tax cuts only for the "bottom" 98%, start taxing stock market transactions, use the money for direct economic stimulus to the middle class and poor, give direct government loans similar to student loans to real, actual small businesses and make them available for people to start small businesses and hire in the U.S., and institute a living wage. Financial problems solved.

Edit to add: And of course, stop wasting money on military hardware we don't even use. And stop the ridiculous illegal wars.

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ejpoeta

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Sun Sep-26-10 04:56 PM
Response to Original message

1. i always thought ny could help itself by taxing stock sales just 1cent each.

how many billions are traded daily!

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Capitalocracy

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Sun Sep-26-10 04:58 PM
Response to Reply #1

2. I'll take less than that

a fraction of a cent will do the trick, especially now with the automatic threshold trades going on thousands of times a day

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Warpy

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Sun Sep-26-10 05:30 PM
Response to Reply #2

5. Even a fraction of a cent would take a lot of the profit out of HFT

and HFT is threatening the market because of all the money managers who use it trading stock they don't have at lightning speeds in order to diddle the per share price.

I'd keep it at least half a cent, though, the same as the Robin Hood tax being proposed in the UK.

Wall Street would collectively yowl like a bunch of soaked cats, but it's good for them. It's certainly good for the rest of us.

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Rochester

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Sun Sep-26-10 05:04 PM
Response to Reply #1

3. I like that idea

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The Magistrate

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Sun Sep-26-10 05:07 PM
Response to Reply #1

4. Something Like That, Sir, Is One Of My Perrennial Recommendations

Its benefits would exceed revenue; it could put a serious crimp in 'churning' and other high-speed distortions benefiting only speculators, and disadvantaging the rest.

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bluerum

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Sun Sep-26-10 05:44 PM
Response to Original message

6. I like the transaction tax - actually I like it all.

But I can imagine that there will be those who don't.

The greedy rich and tight fisted corpos will feel put upon by the lowly working classes.

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Capitalocracy

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Sun Sep-26-10 09:00 PM
Response to Reply #6

7. It's a small list of very simple solutions

But you'd be living in a fantasy world if you thought it would actually happen. At least that's what they've been beating into my head. I guess it must be true.

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