Bernie Sanders Takes It to Wall Street With Financial Transactions Tax" cheers Dean Baker

[Panich52]

“…a FTT is a great way to raise large amounts of money to meet important public needs. It will come almost entirely at the expense of the financial industry and should strengthen the economy. We now have one presidential candidate who is prepared to support a strong FTT. Are there others?”

More
http://m.huffpost.com/us/entry/7438808

[JEB]

1. Yet another practical policy

that Bernie is leading the American people toward adopting.

[brooklynite]

2. How?

Dennis Kucinich advocated for many things and led the American people to none of them.

[JEB]

3. So you stand with wall street against this tax?

Don't think its practical? Or just sorry Hillary won't lead you here?

[brooklynite]

4. Of course not...

...but advocating for something you won't get because the advocate will lose to a Republican who will cut taxes further is a problem for me.

[JEB]

5. As the old saying goes,

"nothing ventured, nothing gained".

[brooklynite]

6. As another old saying goes,

"Don't let the perfect be the enemy of the good"

[JEB]

7. Another good one....

"Once you say you're going to settle for second, that's what happens to you in life."
John F. Kennedy

[paulkienitz]

9. what "good" is this the enemy of?

If not this, then what constructive measure will we actually get?

[rhett o rick]

11. "And don't let the good be the enemy of the so-so" is that what you are saying? nm

[paulkienitz]

8. I'm not convinced that this is out of reach

I think the public is ready to get behind a Frequent Trading Tax, at least. Something to slow down the high-volume daily trading that makes the market volatile and unmanageable for non-insider investors.

[rhett o rick]

10. Once again the "Little Engine That Can't", "I think we can't, I think we can't."

I am glad our founders didn't have that defeatist attitude.

[brooklynite]

12. When someone makes a significant assertion (there is a God; Bernie Sanders can win...)

...it's their burden to provide proof.

Funny by the way that you don't criticize any of the people asserting that Hillary can't win...

[rhett o rick]

13. Sen Sanders will have an uphill fight against the billionaires. But win or lose, the

Populist Movement will advance across the world as more and more of the people rise up against the ruling 1%.

Join the Populist Movement and fight against those that are killing us with wealth redistribution from the lower classes to the 1%.

[brooklynite]

14. Tell you what; I'll join your populist movement AFTER Clinton is elected...

...and we can all breath more freely for 8 years.

[rhett o rick]

15. The Populist Movement is fighting for reducing the wealth inequality. Do you honestly think

that Clinton will work for that or against that? IMO she will continue the status quo with Wall Street dominating our economy. People are dying in poverty today. We can't wait another 8 years to get a people's champion in the WH. Your rational that it's safe with Clinton because it isn't a Republicon doesn't help those millions of Americans that are food deprived today.

[brooklynite]

16. I think she'll work for that, more slowly that you'd like. I KNOW the Republican alternative won't

[muriel_volestrangler]

17. Obama thought about it

DeFazio noted that in 2009 Obama was “very interested” in a financial transactions tax, but said “unfortunately it was assigned to Larry Summers and Timmy Geithner, who were both absolutely opposed to it, and they deep-sixed it and never brought anything back to him.” (This was reported in Ron Suskind’s book Confidence Men.) “Well, they’re both gone, thankfully,” said DeFazio.

http://www.thenation.com/blog/173134/financial-transactions-tax-introduced-again-can-it-pass-time

And as the article notes:

There are three points people should understand about a FTT. The first is that it can raise an enormous amount of money. A FTT could be imposed at different rates. Sanders proposed following the rate structure in a bill put forward by Minneapolis Congressman Keith Ellison. Eleven countries in the European Union are working to implement a set of FTTs that would tax stock trades at a rate of 0.1 percent and trades of most derivative instruments at the rate of 0.01 percent.

The UK already has one at 0.5% ('stamp duty reserve tax'), but stock exchange 'recognised intermediaries' don't have to pay it.