{"id":3725,"date":"2022-11-14T08:16:29","date_gmt":"2022-11-14T08:16:29","guid":{"rendered":"https:\/\/yourtrueinfosource.com\/articles\/?p=3725"},"modified":"2023-01-21T08:17:01","modified_gmt":"2023-01-21T08:17:01","slug":"letter-to-vp-harris-time-to-institute-the-tobin-tax-a-genuine-economic-panacea","status":"publish","type":"post","link":"https:\/\/yourtrueinfosource.com\/articles\/letter-to-vp-harris-time-to-institute-the-tobin-tax-a-genuine-economic-panacea\/","title":{"rendered":"Letter To VP Harris! TIME TO INSTITUTE THE TOBIN TAX, A GENUINE ECONOMIC PANACEA,"},"content":{"rendered":"
Da Vid Raphael MD\u00a0
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143 Seminary Dr. Apt E<\/strong><\/div>\n
Mill Valley, Ca. 94941<\/strong><\/div>\n
415-888-3357…Globalpeace999@aol.com<\/a><\/strong><\/div>\n
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Dear Vice President Harris,<\/strong><\/div>\n
Greetings! As Founder and Director of TheLight Party and Director of The San Francisco Medical Research Foundation I urge you to learn more about The Tobin. Tax\/FinnacialTax\/Robin Hood\/Tax which serves to address and resolve many of the pressing economic issues of the day!<\/strong><\/div>\n
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TIME TO INSTITUTE THE TOBIN TAX, A GENUINE ECONOMIC PANACEA, TO REMEDY THE MASSIVE INEQUALITY OF WEALTH\u00a0<\/strong><\/div>\n
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A\u00a0Financial Transaction Tax<\/a>\u00a0on speculative trading is sometimes called a Tobin tax, A genuine Economic Panacea after the man who first proposed it, Nobel laureate economist James Tobin.<\/strong><\/p>\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.<\/strong><\/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.
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TIME TO INSTITUTE THE TOBIN TAX, A GENUINE ECONOMIC PANACEA, TO REMEDY THE MASSIVE INEQUALITY OF WEALTH<\/strong><\/p>\n

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The revenue potential of a Tobin tax\/Financial Transaction Tax is huge. The Bank for International Settlements reported\u00a0 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.<\/strong><\/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.
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Another arresting fact is that just\u00a0five super-rich commercial banks<\/a>\u00a0control 97% of the U.S. derivatives market: JP Morgan Chase & Co., Goldman Sachs Group Inc., Bank of America Corp., Citigroup Inc. and Wells Fargo & Co.<\/strong><\/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.<\/strong><\/p>\n

Sen. Bernie Sanders proposed while he was campaigning for President\u00a0 a\u00a00.10%… ONE TENTH of 1% Financial Transaction Surcharge which would have generated $300 Billion \/YR..a Modest proposal..<\/strong><\/p>\n

We, The Light Party, propose a 1.0% Financial Transaction Tax , (Surcharge) would raise $3TRILLION\u00a0 Dollars\/year or More!! THIS IS A WIN-WIN ECONOMIC PANACEA<\/strong><\/p>\n

Needless to say, This massive new revenues stream will easily fund many great social\/critically needed environmental\u00a0 programs..Free college tuition,
\nMedicare, new Infrastructure Programs.\u00a0Remineralization\u00a0Of The Soil Planting of Billions Of Trees.. etc, etc, etc!!<\/strong><\/p>\n

In Service To Humanity\u00a0<\/strong><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

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Da Vid Raphael<\/em>\u00a0MD Artist,\u00a0Artainment.com<\/a><\/strong><\/div>\n
Founder and Director of TheLight Party and Director of The San Francisco Medical Research Foundation<\/strong><\/div>\n
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IT IS TIME TO TAX FINANCIAL TRANSACTIONS<\/a><\/strong><\/div>\n
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Financial trade tax gains traction with 2020 Democrats..About Time!!!<\/a><\/strong><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Da Vid Raphael MD\u00a0 143 Seminary Dr. Apt E Mill Valley, Ca. 94941 415-888-3357…Globalpeace999@aol.com Dear Vice President Harris, Greetings! As Founder and Director of TheLight Party and Director of The San Francisco Medical Research Foundation I urge you to learn more about The Tobin. Tax\/FinnacialTax\/Robin Hood\/Tax which serves to address and resolve many of the … <\/p>\n

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