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SheilaT

(23,156 posts)

29. I especially like the idea of a Financial Transaction tax.

Mon Dec 3, 2012, 04:55 PM

Dec 2012

There are so many other areas where economic activity is taxed, and generally at a far higher rate.

Here in Santa Fe we have a gross receipts tax of 8.125% (I think I have the exact amount correct) which is huge. Every business in Santa Fe pays that much tax on every dollar it collects.

I believe the Financial Transaction tax has the potential to wipe out the debt after a few years. It might also slow unscrupulous financial people from "churning", that is making many unnecessary trades in an account just to collect their percentage.

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Republican Doomsday Plan: Cave on Taxes, Vote �Present� [View all] brooklynite Dec 2012 OP

"The validity of the public debt of the United States, authorized by law... shall not be questioned" Drale Dec 2012 #1

Kind Of Like The Warpowers Act In That Regard DallasNE Dec 2012 #21

Your history is wrong. Indydem Dec 2012 #61

Actually, My History Is Right DallasNE Dec 2012 #62

You won't succeed challenging the constitutionally of the debt authorized by law, only 24601 Dec 2012 #42

That is just asking for carefully worded campaign attack ads bluestateguy Dec 2012 #2

Absolutely correct! okwmember Dec 2012 #15

"failed to vote" sounds complicated, but imagine a video JDPriestly Dec 2012 #24

Failed to vote.. Bette Dec 2012 #54

I think "REFUSED to vote for" sounds closer to the truth. kestrel91316 Dec 2012 #26

In tough times..... Red Mountain Dec 2012 #44

Please proceed. FredStembottom Dec 2012 #3

I say the tax rates have to raise first. After we get the money coming in we can talk Vincardog Dec 2012 #4

Plus big time defense cuts in the 100's of billions $ BEFORE any entitlement cut on point Dec 2012 #12

Financial Transaction tax bl968 Dec 2012 #17

It Won't Work! GatorLarry Dec 2012 #59

If the financial parasites packed up and left, shat would be the harm? Vincardog Dec 2012 #65

Your Day Trading can NOT keep up with Goldman's High Frequency Trading fasttense Dec 2012 #67

I especially like the idea of a Financial Transaction tax. SheilaT Dec 2012 #29

Nurses reteachinwi Dec 2012 #37

Thanks for this and welcome to DU! AllyCat Dec 2012 #58

Except that the businesses don't pay it - consumers do as part of the total transaction cost. 24601 Dec 2012 #43

It Won't Work! GatorLarry Dec 2012 #60

Why that transaction tax rate? jmowreader Dec 2012 #36

Bingo. Exactly right. crazylikafox Dec 2012 #56

You know seven-tenths of all stock transactions now are HFT? jmowreader Dec 2012 #63

Their doomsday, perhaps. nt bemildred Dec 2012 #5

According To The Terms 1ProudAtheist Dec 2012 #6

Plus, Pelosi Has Threatened A Legislative Maneuver DallasNE Dec 2012 #25

Rethugs will be setting up for a rout in 2014 BumRushDaShow Dec 2012 #7

they are not worried about the pr... madrchsod Dec 2012 #13

Because that worked so well for them last election? n/t melody Dec 2012 #16

Sun Tzu... UndahCovah Dec 2012 #31

I totally agree, UndahCovah - sevenseas Dec 2012 #39

But it didn't melody Dec 2012 #50

So republicans want the Democrats to have all the credit for the middle class tax cut?? thelordofhell Dec 2012 #8

The new congress is still repub dominated nt UndahCovah Dec 2012 #34

But by then, they should be shamed.......... thelordofhell Dec 2012 #45

Not congress....just the House. Nt pkdu Dec 2012 #52

That's probably an okay short term outcome, but Still Sensible Dec 2012 #9

Yeah sure, give us a situation where we can actually say that we alone helped ease the Middle Class Mr.Turnip Dec 2012 #10

Republican Aide: "You don�t take a hostage you aren�t willing to shoot� Jeff In Milwaukee Dec 2012 #11

holding the debt ceiling didn't work last time n2doc Dec 2012 #14

What a bunch of lyingsackofmitt Dec 2012 #18

Epic Fail cosmicone Dec 2012 #19

This is about the middle-class tax cuts only. bunnies Dec 2012 #27

A Gutless Move Sure To Backfire DallasNE Dec 2012 #20

Would capital gains and dividend tax cuts also expire? democrattotheend Dec 2012 #22

Yes, all the tax cuts will expire Warpy Dec 2012 #35

By all means! Arkana Dec 2012 #23

Each additional person doing that reduces the power of anyone else doing it, because if you patrice Dec 2012 #28

Great Plan Guys! Botany Dec 2012 #30

Sounds good to me... docgee Dec 2012 #32

take that vote DearAbby Dec 2012 #33

Kick (nt) muriel_volestrangler Dec 2012 #38

That should John2 Dec 2012 #40

Just cave gop to the democrats demands and everything will be ok. hrmjustin Dec 2012 #41

I still believe there will be a deal to avoid sequestration. DCBob Dec 2012 #46

They are really horrible at politics. Propaganda they are great at but politics and governing?-- No underpants Dec 2012 #47

What am I missing? freeandequalpa Dec 2012 #48

A vote where they dont vote is still a vote and in this case cstanleytech Dec 2012 #49

This redefines a "Do Nothing Congress" Agnosticsherbet Dec 2012 #51

ROFL? "Doomsday Plan?" Sounds like a pretty humiliating cave to me alcibiades_mystery Dec 2012 #53

Please proceed Cosmocat Dec 2012 #55

LOL nt SunSeeker Dec 2012 #64

Do your jobs you a$$holes!!! AllyCat Dec 2012 #57

the us economy will not spin into a depression. madrchsod Dec 2012 #66