WIN WIN PROGRAM ! A Very Sample Solutions for Paying For the Purposed Bold 4 Trillion Dollar Infrastructure Plan
The Republican positions which professes to be for smaller govt lower taxes are predictably up in arms about the Progressive New Deal type plan..
Let the truth be known, for starters, in recent memory both Democratic and Republican Administrations have been deficit spending for decades the result being an ever expanding national debt which under current economic policies can never be repaid!
So how do we address the Republicans phony concerns regarding this most needed proposed legislation? The answers are so simply it defies logic that the proposed solutions for easily finding this $ 4 Trillion plan has not been put on the table and enacted!!
A PAINLESS SIMPLE WAY TO REDISTRIBUTE THE WEALTH AND GENERATE MASSIVE REVENUES FOR WE THE PEOPLE/US GOVERNMENT!!
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 an addition approximately 3TRILLION 400 BILLION DOLLARS !
Bottom Line
10 TRILLION DOLLARS!!
Sen. Sander’s Tax Wall Street Plan Would Raise $300 Billion, Create Millions of New JobsROBINHOODTAX 1.00% will yield $600 Billion Yearly! A Tax on Derivatives as highlighted above will generate 3TRILLION 400 BILLION DOLLARS !
END ENDLESS WARS AND CREATE A PEACE ECONOMY AND SLASH $100 Billion, for starters, From The Bloated ” DEFENSE SPENDING ”
The much-needed income from a 1% U.S. FTT tax could be split between federal and state governments.
BTW
Another Benefit from this massive Revenues Windfall will lead to a massive reduction in Corporate/and Individual Taxes as they will be more than enough monies to fill up state/local and Federal Coffers!!
TOO SIMPLE AND YET MOST DOABLE!!
LET THE CONVERSATION BEGIN!
