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SOLUTIONS FOR THE CURRENT GLOBAL ECONOMIC CRISIS

SOLUTIONS FOR THE CURRENT GLOBAL ECONOMIC CRISIS

Ten percent of Americans now control 97 percent of all capital income in the country. Nearly half of the new income generated since the global financial crisis of 2008 has gone to the wealthiest one percent of U.S. citizens. The richest three Americans collectively have more wealth than the poorest 160 million Americans.
 A PAINLESS SIMPLE WAY TO REDISTRIBUTE THE WEALTH
A Financial Transaction Tax (FTT) on speculative trading, is sometimes called the Tobin Tax after the man who first proposed it, Nobel laureate economist James Tobin, or the Robin Hood Tax.
The revenue potential of a Tobin Tax is huge.  The Bank for International Settlements reported in 2019 that total annual derivative trades were $640 Trillion.  That figure is probably low, since over-the-counter trades are unreported and their magnitude is unknown.
A mere 1% tax on $640 Trillion would generate $6 Trillion 400 Billion annually in public funds. That 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.This would provide the USA with approximately 3TRILLION 400 BILLION DOLLARS !
The much-needed income from a 1% U.S. FTT tax could be split between federal and state governments.
Another arresting fact is that just five super-rich commercial banks control 97% of the U.S. derivatives market: JPMorgan Chase & Co., Goldman Sachs Group Inc., Bank of America Corp., Citigroup Inc. and Wells Fargo & Co.

 

The Following Links explain all this in more detail.  It is essential to realize that in the past Main Street bailed out Wall Street (2008-2009 financial crisis).  Now it is critical – because of the current economic upheaval precipitated by the global “Pandemic/Feardemic” – that Wall Street bail out Main street! MAIN ST. BAILED OUT WALL ST. NOW IT IS TIME FOR WALL STREET TO BAIL OUT – HERE IS HOW!

To learn more about this “Plandemic/Feardemic” see articles below.

What is a Financial Transaction Tax?

BRILLANT PRACTICAL IDEAS TO TRANSFORM THE CURRENT TAX STRUCTURES
  •  ENCOURAGE JOB SHARING – CALL UPON THE GOOD PEOPLE OF AMERICA TO CONSIDER REDUCING RENTS ADD HERE CREATE A DOMESTIC CONSERVATION CORP. TO CLEAN UP THE CITIES, PLANT MILLIONS OF FRUIT BEARING TREES, CLEAN UP RIVERS AND STREAMS AND REMINERALIZE THE SOIL…
  • REDUCE THE MILITARY BUDGET $740 BILLION
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  • Collect A TARIFF (Value- Added Tax) on all goods manufactured abroad regardless of their corporate ownership.This Tariff will provide billions of dollars to support our social services,encourage US manufacturing to remain here in the USA and have little effect on our import market.
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  • FORGIVENESS OF DEBTS: We are calling for the re-structuring of Third World Debt… Plus the restructuring of Credit Card Debt STUDENT LOANS ETC.. STOP PREDATORY LENDING!!!
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INTERESTING FACTOID!
THE GNP OF THE EARTH $88 TRILLION DOLLARS

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