2016 Postmortem

booksandpencils

(19 posts)

36. The FTT was tried and failed in Sweden

Reply to hill2016 (Original post)

Mon Aug 31, 2015, 01:17 PM

Aug 2015

However, there are a key few differences that will make it viable here in the US. The big problem in Sweden, was that traders there simply moved over to the London and New York markets, pulling their money out of the country. But would Wall Street do the same thing? Move their money out of the largest market in the world? And go where? London? China? Germany?

Do you really think Wall Street addicts will stop trading over .5%?

I do wonder about the 16th Amendment, which seems to state taxes can only be collected from income. But Americans are stick of the status quo, sick of corporations, sick of the 1%. It doesn't seem right one little line in an old document should stand in the way of our kids getting free college.

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Sanders' financial transaction tax proposal - do the numbers make sense? [View all] hill2016 Aug 2015 OP

What is the daily volume (in dollars) on the various stock exchanges? 1939 Aug 2015 #1

as I mentioned hill2016 Aug 2015 #2

So you would factor out JackInGreen Aug 2015 #18

I've included hill2016 Aug 2015 #19

I'm sorry JackInGreen Aug 2015 #20

like I said in my OP hill2016 Aug 2015 #21

I didn't call you any names JackInGreen Aug 2015 #23

difference hill2016 Aug 2015 #25

No time for love doctor Jones JackInGreen Aug 2015 #26

ok hill2016 Aug 2015 #27

Financial transaction taxes tend to raise less money than forecast, PoliticAverse Aug 2015 #3

Where did this come from? rogerashton Aug 2015 #4

you're confusing two things. hill2016 Aug 2015 #5

So you just made it up. rogerashton Aug 2015 #6

yeah hill2016 Aug 2015 #7

A wealth tax at the federal level would likely require a constitutional amendment. n/t PoliticAverse Aug 2015 #8

why would it? hill2016 Aug 2015 #11

The Constitution limits Congress' taxing power. PoliticAverse Aug 2015 #12

You may be correct but.... Armstead Aug 2015 #9

yeah but hill2016 Aug 2015 #10

Well, at least you didn't make that line up: rogerashton Aug 2015 #13

Difference I see is that the Deemocrats gave up even trying 30 years ago Armstead Aug 2015 #14

You're stereotyping Armstead Aug 2015 #16

in your view hill2016 Aug 2015 #22

I think if you look at his overall programs and message.... Armstead Aug 2015 #32

Great analysis. Bernie is going to have to.... SonderWoman Aug 2015 #15

thank you hill2016 Aug 2015 #24

just wondering hill2016 Aug 2015 #17

Well, you convinced me.... daleanime Aug 2015 #28

The tax would need to increase the cost of doing business for some investors Motown_Johnny Aug 2015 #29

sorry hill2016 Aug 2015 #30

which is why I said half, and then rounded down Motown_Johnny Aug 2015 #31

$70 billion is the estimate of needed funds to provide free college in all public univ. virtualobserver Aug 2015 #33

Any tax that would slow the rate of high frequency trading sounds good DJ13 Aug 2015 #34

Please see this memo from Political Economy Research Institute University of Massachusetts-Amherst think Aug 2015 #35

The FTT was tried and failed in Sweden booksandpencils Aug 2015 #36