{"id":3507,"date":"2022-07-24T15:55:59","date_gmt":"2022-07-24T15:55:59","guid":{"rendered":"https:\/\/yourtrueinfosource.com\/articles\/?p=3507"},"modified":"2022-07-24T15:55:59","modified_gmt":"2022-07-24T15:55:59","slug":"solutions-for-the-current-global-economic-crisis-6","status":"publish","type":"post","link":"https:\/\/yourtrueinfosource.com\/articles\/solutions-for-the-current-global-economic-crisis-6\/","title":{"rendered":"SOLUTIONS FOR THE CURRENT GLOBAL ECONOMIC ‘CRISIS”"},"content":{"rendered":"

THE LIGHTPARTY’S<\/strong><\/p>\n

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SOLUTION(S) FOR THE CURRENT GLOBAL ECONOMIC ‘CRISIS”<\/span><\/strong><\/p>\n

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A\u00a0financial transaction tax<\/a>\u00a0on speculative trading is sometimes called a Tobin tax, after the man who first proposed it, Nobel laureate economist James Tobin.<\/div>\n
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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>\u00a0(a quadrillion is a thousand trillion). That figure was probably low, since over-the-counter trades are unreported and their magnitude is unknown.<\/div>\n
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A mere 1% tax on $1 quadrillion in trades would generate $10 trillion 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.<\/div>\n<\/div>\n<\/div>\n
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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.<\/div>\n<\/div>\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>\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>\n

We, The Light Party, propose a 1.0% Financial Transaction Tax , (Surcharge) would raise $600 Billion Dollars\/year or More!!<\/p>\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>\n

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

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

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

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

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NURSES UNITED IN SUPPORT OF THE ROBIN HOOD TAX AKA FINANCIAL TRANSACTION TAX<\/a><\/div>\n<\/div>\n<\/div>\n
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A 2% Financial Wealth Tax Would Provide a $12,000 Annual Stipend to Every Ameriican<\/a><\/div>\n
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BRILLANT PRACTICAL IDEAS TO TRANSFORM THE CURRENT TAX STRUCTURES<\/strong><\/div>\n
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Fairtax.org<\/a>) and\/or\u00a0THE AUTOMATED PAYMENT TRANSACTION TAX…<\/a><\/strong><\/div>\n
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THE LIGHTPARTY’S SOLUTION(S) FOR THE CURRENT GLOBAL ECONOMIC ‘CRISIS”   A\u00a0financial transaction tax\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 … <\/p>\n

Continue reading “SOLUTIONS FOR THE CURRENT GLOBAL ECONOMIC ‘CRISIS””<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[1],"tags":[],"jetpack_publicize_connections":[],"_links":{"self":[{"href":"https:\/\/yourtrueinfosource.com\/articles\/wp-json\/wp\/v2\/posts\/3507"}],"collection":[{"href":"https:\/\/yourtrueinfosource.com\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/yourtrueinfosource.com\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/yourtrueinfosource.com\/articles\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/yourtrueinfosource.com\/articles\/wp-json\/wp\/v2\/comments?post=3507"}],"version-history":[{"count":1,"href":"https:\/\/yourtrueinfosource.com\/articles\/wp-json\/wp\/v2\/posts\/3507\/revisions"}],"predecessor-version":[{"id":3508,"href":"https:\/\/yourtrueinfosource.com\/articles\/wp-json\/wp\/v2\/posts\/3507\/revisions\/3508"}],"wp:attachment":[{"href":"https:\/\/yourtrueinfosource.com\/articles\/wp-json\/wp\/v2\/media?parent=3507"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/yourtrueinfosource.com\/articles\/wp-json\/wp\/v2\/categories?post=3507"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/yourtrueinfosource.com\/articles\/wp-json\/wp\/v2\/tags?post=3507"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}