Thursday, October 06, 2011

#occupywallstreet Tax Stock Trades NOW! Tax Stock Trading!

#occupywallstreet Tax Stock Trades NOW! A Key Demand: Tax Stock Trading!
Read about it: A small tax on all financial-market transactions

Checks and balances that could help the people aren't automatically implemented. If a small group of powerful interests don't want you to know about something, it is possible (there's a pattern) they can get away with keeping you in the dark. The Tobin Tax is a good example.

“Tobin Tax has been scorned or ignored by the world’s key financial institutions — and thus by their political and academic minions. The commercial media have also disdained to report or comment on Tobin’s proposal. So much so that, when a major book, The Tobin Tax : Coping With Financial Volatility, was published last year by the prestigious Oxford University Press, it was boycotted by the media because (according to Noam Chomsky ) of pressure exerted by the big American financial institutions, as well as the Clinton administration.” Rodney Schmidt Tobin Tax

Nader makes a good case for it, pointing out that a transaction tax "would certainly raise enough to make the Wall Street crooks and gamblers pay for their own Washington bailout." Also, I support a tax on currency trades across borders. "Called the Tobin Tax after its originator, the late James Tobin, a Nobel laureate economist at Yale University, 10 to 25 cents per hundred dollars of the huge amounts of dollars traded each day across borders would produce from $100 to $300 billion per year."

Economist Robert Pollin explains, “A small tax on all financial-market transactions, comparable to a sales tax, would raise the costs on short-term speculative trading while having negligible effect on people who trade infrequently. It would thus discourage speculation and channel funds toward productive investment.” - Tax The Speculators

If anyone wants to help, you can click here for a link to a pdf of the flyer, you can download, print and distribute it. It saves paper because each page has three flyers so you can cut it in thirds to hand out to people:
Occupy Wall Street Declaration of the Occupation of New York City Accepted by NYC General Assembly


struggleforfreedom said...

Occupy Wall Street is the beginning of something huge.

The current unjust system has to be replaced with direct participatory democracy.

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