But that’s because you don’t understand how markets work.
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No, he doesn’t. That is just those evil 1%ers.
Also let’s just completely ignore that a tax on trading will just push more businesses out of the country and into foreign financial centers.
But the beauty of being a bright-eyed socialist is you don’t have to think any of this shit through.
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I remember reading an article a while back on Bernie’s proposal of taxing speculation. What he is trying to do by this proposal is try to get traders, investment banks, hedge funds etc. to think more long term.
The reason it won’t hurt the middle class to the extent most are talking about on these boards is most people in a 401k, IRA, etc are holding for multiple years. Look at Buffett’s strategy for example he buys a stock and holds it for years the only time he is going to get this speculation tax is when he sells. Most middle class people with an IRA aren’t day trading with their account, they are buying Apple, Walmart, etc as long term investments and are holding those for multiple years.
The problem I see this having as investment banks and possibly hedge funds start holding positions longer the money this is going to generate is going to decrease. Lets say you have a day trader making 300 trades a day, with a tax on every sale he makes it might not make as much financial sense to make that many trades. Maybe now he holds longer and decreases his trades to 100 a day, thats going to ultimately impact the money coming in on this tax.
Good read even if you don’t agree with Bernie’s policies, I always think its good to get different viewpoints.
Stop it with your corporate propaganda!
Basically, hence his response:
The dream of single payer in Vermont:
It’s funny, regarding the VT single-payer scenario, if implemented, would attract a population influx but business who could afford to move out of state would, those who couldn’t would probably be driven out of business … with the perceived population increase, non-farm unemployment would skyrocket. At what rate, I don’t know, but, yea, that’s what would likely happen…but hey, socialism, making everyone better off amirght?
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Ya, it’s amazing. It would have cost an estimated $4.3B over 5 years for a state that represents .2% of the population.
I don’t know man, it’s probably just my corporate programming talking nahmean?
Your level of corporate brainwashing disgusts me.
Lol, so I’m trying to find an old investing thread Dr_Pangloss (I think it was him) posted in and came across this gem:
Unreal.
I’m sorry, I just think this is just hilarious…
After reading the article I was confused on the point that Bernie was promoting competition and free market invisible hand. The point made was that because Bernie’s funding is coming from small donations, he is more free market. Everything I have heard from Bernie is to take power away from the private (more free) market and move it to the government. The government has NO competition and a lack of accountability (doesn’t fail when programs don’t work), which according to the article is what makes a free market work so well.
You mean mutual funds that ensure 90% of our nations retirement? You literally have zero clue how financial planning works.
People like you ensure that we will continue to pay for YOUR asses when you have no retirement…and no money saved at 70 YO.
Really then how will effect the market, genius?
Who are the major shareholders in most markets? A half percent tax will move business across the shores? The beauty of being a republican is that you can more wrong than right but you still believe your own ideology.
I trust the WSJ on the matters of money much more than Mother Jones, by a quantum mile.
Government cost projections are wildly underestimated, while government revenue projections are wildly overestimated.
Case in point, our High Speed Rail was supposed to cost $34 Billion, now it’s expected to cost $98 Billion.
Are the 1% not the major shareholders? And the mutual fund industry is a scam. It costs people billions in fees. And often these so-called manager get paid when they loose you money. So I believe most would rather pay a 1/2% tax on trading than to try and pay for a college tuition. It is a better trade off, obviously. Except for right-wingers who are desperately holding on to an ideology when confronted with facts which can disprove their child-like beliefs.
Please educate me on your retirement plan? What are you doing to provide for yourself in your old age?
Also, where do you think that large capital projects get funding to build? Huge solar plants? Huge Hydro projects? Who do you think funds the next gigantic coastal wind farm?
Please educate me on who writes those checks?
Did you read that article you posted by the way? I don’t think it means what you think it means.