Wall Street Tax Act 2019

Jun 2014
59,999
34,322
Cleveland, Ohio
#11
It would be but its doubtful. Its more likely to keep the tax in since there probably are far fewer small traders. Wall St will whine and get their way.

O yeah. These are the most powerful, wealthiest of all people on the planet. Passing the wall street tax is maybe harder than passing universal care itself.

But that is because the problem of extreme income inequality is not a problem to the rich. If we don't curtail income inequality's growth and reverse that trend pronto, we will die of malnutrition in tent cities.

It's the most important battle of our lives.
 

Blueneck

Former Staff
Jun 2007
52,769
38,715
Ohio
#12
We do need a massive infusion of tax revenues to pay for universal care. Without a new tax, or a vastly reformed existing tax, there's no hope for this progressive policy because there's no way to pay for it.

Targeting intangible assets is not a bad idea. It's probably the only viable idea. But Jeeze Louise, the need for economic geniuses to design it is clear, and instead, we have 28 year old shopgirl AOC, etc. running the project.
Doesn't sound like she's running anything. It's a bill that's been out there a while, my guess is they chose her to bring it to the attention of the public. Bright shiny object.
 
Mar 2012
52,842
34,967
New Hampshire
#13
Doesn't sound like she's running anything. It's a bill that's been out there a while, my guess is they chose her to bring it to the attention of the public. Bright shiny object.
Yea its a reintroduction with her as the sponsor. Not sure why? Although Wall St stopped donating to some of the first ones to introduce regulation against them, so maybe they figured AOC doesnt need those donations? She is being branded as the "anti Wall Street rep." She can probably get away with it while others cant.
 
Likes: Madeline
Jun 2014
59,999
34,322
Cleveland, Ohio
#14
Doesn't sound like she's running anything. It's a bill that's been out there a while, my guess is they chose her to bring it to the attention of the public. Bright shiny object.
Doubtless. Personally, I hate this broad. IMO, she is shredding the progressive movement almost singlehandedly.

Fucking antisemitic C You Next Tuesday.
 
Jun 2014
59,999
34,322
Cleveland, Ohio
#15
Yea its a reintroduction with her as the sponsor. Not sure why? Although Wall St stopped donating to some of the first ones to introduce regulation against them, so maybe they figured AOC doesnt need those donations? She is being branded as the "anti Wall Street rep." She can probably get away with it while others cant.
She's disposable. It's not a bad move politically, but the work has not been done to make passage a good idea.

Might happen anyway (unlikely as that is), but If so, nobody knows yet if the cure will be worse than the disease.

How much money will flow to overseas stock markets, if this passes?
 
Mar 2012
52,842
34,967
New Hampshire
#16
She's disposable. It's not a bad move politically, but the work has not been done to make passage a good idea.

Might happen anyway (unlikely as that is), but If so, nobody knows yet if the cure will be worse than the disease.

How much money will flow to overseas stock markets, if this passes?
Thats one of those loopholes. Currently it only concerns US trade companies. But some of the biggest trade firms, TD Ameritrade, Firstrade etc are foreign owned. So its possible they would be exempt. This is how Trump gets a leg up, he yells "USA, USA" and these American companies see this stuff and feel they are being unfairly taxed.
 
Likes: Madeline
Jun 2014
59,999
34,322
Cleveland, Ohio
#18
So fucking what? How does that excuse her hatemongering?

(Couldn't read your link, so I tried this one:)

Alexandria Ocasio-Cortez reveals Jewish ancestry at Hanukkah celebration - The Boston Globe

Not sure finding Serphadic Jewish ancestors in your DNA makes anyone Jewish. But there is a historic era (the Spanish Inquistion, etc.) during which many Jews suffered forced conversion.

It's likely most Latinos have some percent of Jewish ancestry, however tiny.
 
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Blueneck

Former Staff
Jun 2007
52,769
38,715
Ohio
#19
Thats one of those loopholes. Currently it only concerns US trade companies. But some of the biggest trade firms, TD Ameritrade, Firstrade etc are foreign owned. So its possible they would be exempt. This is how Trump gets a leg up, he yells "USA, USA" and these American companies see this stuff and feel they are being unfairly taxed.
From your article.

Other countries, such as Australia, Belgium, France, Italy, South Korea, Switzerland, and the United Kingdom, have already implemented taxes similar to those being proposed by DeFazio and Schatz.
 

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