General Discussion

sulphurdunn

(6,891 posts)

23. The flat tax

Tue Dec 4, 2012, 08:07 PM

Dec 2012

on transactions might work too. Regardless of how it's done, financial markets need to be taxed, consistently and fairly. Part of the revenue should be used to prosecute crooked traders and CEOs. Aside from taxing financial transactions, I'd like to see an increase in the capital gains and inheritance taxes with no limit on income for FICA taxation. I think that such a tax regime would only reduce the top income tier's chunk of national wealth by a few percentage points. It wouldn't hurt 'em a bit. If it did, they could all move to Qatar for all I care right now. One day, we'll discover that we don't need financial speculators anymore than we needed kings and feudal lords. People at the tip of the socioeconomic pyramid are mostly parasites and always have been.

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Eliot Spitzer: Tax the Traders! It Would Solve Economic Crisis and Stop Reckless Activity [View all] marmar Dec 2012 OP

Have to run, but K&R and more later, I hope. n/t Egalitarian Thug Dec 2012 #1

It will help to stabilize and normalize the market. joeunderdog Dec 2012 #2

I like your enthusiasm but the ball is in our court. It's Wall Street that are saying rhett o rick Dec 2012 #5

Nailed it. russspeakeasy Dec 2012 #12

The market is stable over the long term. cbdo2007 Dec 2012 #37

This just absolutely needs to be done. And I invest in stocks. But it's just self evident. Squinch Dec 2012 #3

Wonder if the could do it via a state or local (NY) sales tax? LeftInTX Dec 2012 #4

Many trades are done automatically adieu Dec 2012 #11

So smart libodem Dec 2012 #6

I can't rec this enough dreamnightwind Dec 2012 #7

LMSP kicking...n/t littlemissmartypants Dec 2012 #8

This message was self-deleted by its author AnotherMcIntosh Dec 2012 #9

This message was self-deleted by its author eugene jones Dec 2012 #10

it's a dumb idea Vox Populi Dec 2012 #13

"Eliot Spitzer ill-informed on financial markets" ???? Dude, what are you smoking? 99th_Monkey Dec 2012 #16

huh? Vox Populi Dec 2012 #20

Fortunately, your opening assertion about Spitzer being "ill-informed" 99th_Monkey Dec 2012 #22

Vox Populi pwned. Dark n Stormy Knight Dec 2012 #29

**snap** I forgot to say "welcome to DU" 99th_Monkey Dec 2012 #30

here's why it's a dumb idea Vox Populi Dec 2012 #34

I trust Mr. Spitzer's expertise on this subject far more than I do yours 99th_Monkey Dec 2012 #64

Planned enforcement of the Stamp Act in America was met with a shrug. ieoeja Dec 2012 #45

The flat tax sulphurdunn Dec 2012 #23

Utterly absurd. Not one of your statements is even remotely true. n/t Egalitarian Thug Dec 2012 #32

you sound like a low-information teabagger Vox Populi Dec 2012 #35

Was there something confusing about "Not one of your statements is even remotely true"? Egalitarian Thug Dec 2012 #56

Post removed Post removed Dec 2012 #58

You post is there for all to see and I quoted it directly. Egalitarian Thug Dec 2012 #61

Your speculations are based on unsupported theory. bvar22 Dec 2012 #36

here's some facts Vox Populi Dec 2012 #38

Thank You for your Return Address!!!! bvar22 Dec 2012 #39

no, you don't Vox Populi Dec 2012 #40

Yes I do. Fair Game! bvar22 Dec 2012 #41

you don't make sense Vox Populi Dec 2012 #42

Admittedly, I was in error. bvar22 Dec 2012 #43

lol - are you some kind of conspiracy nut? Vox Populi Dec 2012 #44

2 Strawman Logical Fallacies in one post! bvar22 Dec 2012 #46

whatever Vox Populi Dec 2012 #47

You're "done" OK, bvar22 Dec 2012 #50

I agree with Vox Populi on his proposals. I also agree that the general attitude displayed AikidoSoul Dec 2012 #48

+1 Squinch Dec 2012 #52

thanks man Vox Populi Dec 2012 #54

Do you have any idea how many degrees and decades of experience you are poo-pooing Egalitarian Thug Dec 2012 #62

But if it were applied as described in the article, a fee for every $100 Squinch Dec 2012 #51

let me clarify Vox Populi Dec 2012 #55

So you are saying that it would be better to apply a fee on # of shares transacted than Squinch Dec 2012 #57

no - just that it has more chance of working Vox Populi Dec 2012 #59

Thanks! That does improve my understanding of this. And again, welcome. Squinch Dec 2012 #60

Bottomline ... 1StrongBlackMan Dec 2012 #14

YES!!! This should be self-evident and obvious to anyone 99th_Monkey Dec 2012 #15

Several Industrialized nations have such a tax; it's not hard to figure out. byeya Dec 2012 #17

I'd actually be more in favor of a tax hike on capital gains. 25% tax rate on gains over $100,000. Selatius Dec 2012 #18

No one is suggesting going back to previous years, when there was a difference in the tax owed.... northoftheborder Dec 2012 #24

I agree with you that rewarding longer term investments is a good idea AikidoSoul Dec 2012 #49

The market needs both to maintain liquidity, in my opinion. However... Selatius Dec 2012 #53

HUGE K & R !!! - Thank You !!! WillyT Dec 2012 #19

Neat and simple idea, Grey Dec 2012 #21

First heard about this from some nice nurses, a short time back. Octafish Dec 2012 #25

K+R limpyhobbler Dec 2012 #26

Maybe he good get Sen. Warren to sponsor this and dae Dec 2012 #27

A tax on financial transactions is self-evident PufPuf23 Dec 2012 #28

Even a .25% across-the-board federal transaction tax would be sufficient. Egalitarian Thug Dec 2012 #31

K&R. I wrote to my congresspeople saying that until this has been tried there is no reason at all to Overseas Dec 2012 #33

Meanwhile in Europe: EU Moves Ahead With Transaction Tax in Rejecting U.K. Changes pampango Dec 2012 #63