General Discussion
In reply to the discussion: UPDATE: If the TPP Passes Bernie Sanders Will Be the Next President of the US. And Here's Why: [View all]Sancho
(9,215 posts)Bernie doesn't have a serious Robin Hood plan, just a wild idea.
I've heard a GOP operative here joking at a political meeting that they can't wait to use Bernie's Robin Hood tax against him. He was talking to a room of local politicians, and said it "was not much different to have a Bernie Sanders or a Bernie Maddow, both would steal your money".
States set public university tuition, so an tax that paid tuition would simply be an opportunity to raise tuition to get more money from the feds. Also, union negotiated and public employees fight for every retirement dollar, so over a career of savings, Bernie's tax would add up big time. Bernie needs to propose a different source of funds for tuition than our retirements. Capital gains, closing loopholes, etc. No one will support taxing retirements.
You also have to realize, that once implemented, that transaction tax would grow as soon as politicians saw a new source of money. And no one will keep them from funding other things besides education with the tax. In other words, it's simply a bad idea.
Everyone wants greater access to higher education, but taxing retirement will not be supported by very many working folks.