{"id":8,"date":"2022-06-10T23:58:56","date_gmt":"2022-06-10T23:58:56","guid":{"rendered":"https:\/\/yourtrueinfosource.com\/FINANCIALTRANSACTIONTAX\/?page_id=8"},"modified":"2022-06-11T00:06:45","modified_gmt":"2022-06-11T00:06:45","slug":"the-time-is-now-to-institute-a-financialtransaction-tax","status":"publish","type":"page","link":"https:\/\/yourtrueinfosource.com\/FINANCIALTRANSACTIONTAX\/","title":{"rendered":"THE TIME IS NOW TO INSTITUTE A FINANCIALTRANSACTION TAX"},"content":{"rendered":"\r\n

A\u00a0FINANCIAL TRANSACTION TAX\u00a0<\/a>\u00a0on speculative trading is sometimes called a Tobin tax, after the man who first proposed it, Nobel laureate economist James Tobin. The revenue potential of a Tobin tax is huge. The Bank for International Settlements reported in 2008 that total annual derivatives trades were\u00a0$1.14 quadrillion<\/a><\/em><\/strong>\u00a0(a quadrillion is a thousand trillion).<\/strong>\u00a0That figure was probably low, since over-the-counter trades are unreported and their magnitude is unknown.\u00a0A mere 1% tax on $1 quadrillion in trades would generate $10 trillion annually in public funds.<\/strong>\u00a0That is only for derivatives. There are also stocks, bonds and other financial trades to throw in the mix; and more than half of this trading occurs in the United States.<\/p>\r\n\r\n\r\n\r\n

.<\/p>\r\n\r\n\r\n\r\n

Another arresting fact is that just\u00a0five super-rich commercial banks<\/a>\u00a0control 97% of the U.S. derivatives market: JPMorgan Chase & Co., Goldman Sachs Group Inc., Bank of America Corp., Citigroup Inc. and Wells Fargo & Co.<\/p>\r\n\r\n\r\n\r\n

Promoters of international development have suggested that a mere\u00a0.005% tax<\/a>\u00a0could raise between $30 billion and $60 billion per year, enough for the G7 countries to double international aid.<\/p>\r\n\r\n\r\n\r\n

Other\u00a0proponents<\/a>\u00a0favor the larger 1% tax originally proposed by James Tobin. The much-needed income from a U.S. tax could be split between federal and state governments.<\/p>\r\n\r\n\r\n\r\n

We, The Light Party, propose a 2.0% Financial Transaction Tax , (Surcharge) would raise $1.2 Trillion Dollars\/Year or More!!<\/p>\r\n\r\n\r\n\r\n

The Following Links explain all this in more detail..Indeed, now more than ever, it is essential to realize that in the past Main Street bailed out Wall Street (2008-2009 Financial Crisis)…<\/p>\r\n\r\n\r\n\r\n

Now, it is critical because of the current economic upheaval\u00a0 precipitated by the Global “Pandemic\/Feardemic” that Wall Street bails out Main street!!\u00a0<\/p>\r\n\r\n\r\n\r\n


What is a Financial Transaction Tax?<\/a><\/strong><\/p>\r\n\r\n\r\n\r\n

Financial trade tax gains traction with 2020 Democrats..About Time!!!<\/a><\/strong><\/p>\r\n\r\n\r\n\r\n

Sen Sander’s Tax Wall Street Plan Would Raise $300 Billion, Create Millions of New Jobs<\/a><\/strong>ROBINHOODTAX<\/a><\/p>\r\n\r\n\r\n\r\n

NURSES UNITED IN SUPPORT OF THE ROBIN HOOD TAX AKA FINANCIAL TRANSACTION TAX<\/a><\/p>\r\n\r\n\r\n\r\n

A 2% Financial Wealth Tax Would Provide a $12,000 Annual Stipend to Every Ameriican<\/a><\/p>\r\n\r\n\r\n\r\n

BRILLIANT PRACTICAL IDEAS TO TRANSFORM THE CURRENT TAX STRUCTURES<\/strong><\/p>\r\n\r\n\r\n\r\n

Fairtax.org<\/a>) and\/or\u00a0THE AUTOMATED PAYMENT TRANSACTION TAX…<\/a><\/strong><\/p>\r\n","protected":false},"excerpt":{"rendered":"

A\u00a0FINANCIAL TRANSACTION TAX\u00a0\u00a0on speculative trading is sometimes called a Tobin tax, after the man who first proposed it, Nobel laureate economist James Tobin. The revenue potential of a Tobin tax is huge. The Bank for International Settlements reported in 2008 that total annual derivatives trades were\u00a0$1.14 quadrillion\u00a0(a quadrillion is a thousand trillion).\u00a0That figure was probably […]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-8","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/yourtrueinfosource.com\/FINANCIALTRANSACTIONTAX\/wp-json\/wp\/v2\/pages\/8","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/yourtrueinfosource.com\/FINANCIALTRANSACTIONTAX\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/yourtrueinfosource.com\/FINANCIALTRANSACTIONTAX\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/yourtrueinfosource.com\/FINANCIALTRANSACTIONTAX\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/yourtrueinfosource.com\/FINANCIALTRANSACTIONTAX\/wp-json\/wp\/v2\/comments?post=8"}],"version-history":[{"count":3,"href":"https:\/\/yourtrueinfosource.com\/FINANCIALTRANSACTIONTAX\/wp-json\/wp\/v2\/pages\/8\/revisions"}],"predecessor-version":[{"id":13,"href":"https:\/\/yourtrueinfosource.com\/FINANCIALTRANSACTIONTAX\/wp-json\/wp\/v2\/pages\/8\/revisions\/13"}],"wp:attachment":[{"href":"https:\/\/yourtrueinfosource.com\/FINANCIALTRANSACTIONTAX\/wp-json\/wp\/v2\/media?parent=8"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}