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5 Reasons It's Just Absurd That America Doesn't Tax Wall St's Transactions

Business  (tags: economy, dishonesty, Wall Street Reform, BIg Banks, Elizabeth Warren, usa, news, government, ethics, corporate, corruption, business, economy, politics, society, money, government, finance )

- 1819 days ago -
The financial speculation industry has devastated middle-class wealth -- and there's a simple way to curb its power.

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Alice C (1797)
Tuesday July 23, 2013, 3:10 am
There's more than 5 reasons ~ Thanks Cal

Lisa W (143)
Tuesday July 23, 2013, 3:46 am
Like Alice said - there's more than 5 reasons, but even 5 is enough, sickening! Ty Cal!

Bryna Pizzo (139)
Tuesday July 23, 2013, 5:37 am
What a marvelous idea. Unfortunately, it doesn't even begin to level the playing field, but it is a step in the right direction. Thank you for the good news.

Kit B (276)
Tuesday July 23, 2013, 8:50 am

Very good article and exactly correct.

Jamie C (282)
Tuesday July 23, 2013, 1:27 pm
yes how about making the rich pay their fair share for a change?

Joanne D (38)
Tuesday July 23, 2013, 1:39 pm
You bet.

Debra Tate (17)
Tuesday July 23, 2013, 2:38 pm
They need to pay their fair share also. I pay mine, you pay your and they pay nothing!! That is BS! This article doesn't mention the elephant in the room on the topic. Any politician that votes for this can expect to never receive another corporate contribution. Sure, this is good for America, but it is bad for the individual Congressperson.
I think we know what that means.

Birgit W (160)
Tuesday July 23, 2013, 4:18 pm
Gee, why should the rich pay taxes? They know how to get away with it, and leave it to us.

Philip Heinlein (474)
Tuesday July 23, 2013, 5:53 pm
Well, we all know the real reason: The GOP and their silly "no tax pledge". Can't make those poor bankers pay more now, can we?

Stephen Brian (23)
Tuesday July 23, 2013, 11:41 pm
The SEC is already funded by a FTT on stock-purchases. Skimming the list on Wikipedia, the U.S. may actually have one of, if not the, worst-structured FTTs around. If the idea is to reduce leveraging, then it should be trades in loans, not direct investment in productive companies, that gets taxed.

I should probably also point out something that is regularly missed here. Middle class investors would actually find themselves paying more than would wealthy professional investors. Middle class investors invest through banks and mutual funds rather than privately. These are the institutions that engage in fast trading. The money would come out of the interest-rate on things like retirement-funds.

Kerrie G (116)
Wednesday July 24, 2013, 3:39 am
Noted, thanks.

Lona G (77)
Wednesday July 24, 2013, 5:40 am
Five good reasons to start with. Now go for it.

Theodore Shayne (56)
Wednesday July 24, 2013, 9:39 am
The 2012 trading volume for the Chicago Mercantile Group (CME) alone was $806 trillion, about 12 times more than the entire world GDP. In 2011 it was over $1,000 trillion -- that's a mind-dizzying $1 quadrillion.
When you worked for Grandpa Krupp prior to WW1 the Krupp Company provided employment; schools for the workers children; medical care and facilities plus retirement benefits so what the hell is wrong with these modern firms that they can't give back to the countries that they operate in, in the same vein of social conscience and responsibility? Maybe the rumors about the majority of them being Luciferians is true and our suffering and death is nothing more than an incense and offering they offer before their shining god?

Lois Jordan (63)
Wednesday July 24, 2013, 4:10 pm
Noted. Thanks, Cal. I just read today that there is a bill in Congress for a Financial Transaction Tax...I believe it's sitting in the Senate. Seems it needs more co-sponsors.

Sheila D (194)
Wednesday July 24, 2013, 5:17 pm
Don't know about any of you but I'm going to email my senators about the bill and tell them we need this one.
Noted and thank you very much.

Sheila D (194)
Wednesday July 24, 2013, 5:56 pm
Just sent emails to my 2 senators and hope it will help. Hope others will do the same as the more behind it the better chances it will have.

Debra Tate (17)
Thursday July 25, 2013, 11:08 am
Vote them all out who supports this!! NOTED!

Marija M (29)
Friday July 26, 2013, 10:08 am
no comment. point.
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