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shrooma

time for tobin....?

8 posts in this topic

should a tobin tax be levied on currency speculation?

after all, the banks, money-men & cutthroat traders got us all in this mess to start with, isn't it only fair that they're the ones who get us out....?

while they profit from destabilised currencies worldwide, the world economic climate will not get any better anytime soon, so instead of lining their already overstuffed pockets, isn't it time they started contributing to the recovery instead of bleeding the world dry with their greed?

here's one possible solution to the nightmare....

.

http://newint.org/features/2000/01/01/tobintax/

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The speculators artificially run up the price of basic goods like food and fuel. Puts money in their pocked but hurts the rest of us. Something needs to be done about them, these too big to fail banks and high frequency traders.

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Something needs to be done about them, these too big to fail banks and high frequency traders.

.

a tax would be the easiest way hil, after all, they're making money out of money, and it's untaxed, but why should it be?

essentially, all they're doing is gambling, and gambling worldwide is taxed and regulated,

except for these guys.

it shouldn't be allowed to happen, but it IS happening, and until the governments of the world grow some balls and tell them it's gotta stop, it always WILL happen!!

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And they make it harder for small providers to do business through affecting legistlation in countries. Of course you can still do pretty much what you want with your land, like grow things, but try to profit from it and it's another story because of the regulations that favor big producers. They dont always get their way which is good for their own public image too.

The way I see it, no matter what's your job, you should do a good job at it and do it ethically, meaning not p*** on other people's cereals. It's been a growing trend in here at least to allow more freedom for big companies and those who move the money while pushing the workers down more and more. And they use the magic word "strength to compete in financial market" to justify all that... but it's the financial market itself that shouldn't justify those things, yet it does.

So in addition to giving it a tax, I'd enforce localization more. Simply because it's a well-known veiled threat to move the factory or your job whatever it is, to a 3rd world country. What keeps workers here in line. I'd show that a middle finger. I'm all in for this, and the biggest reason people involved in speculative market won't be in for this is because it takes away their jobs. The less trading you need, the less traders there'll be, that's the rule of the cruel capitalism where you aim for profit first, then for people's well-being. Let it bite on your own ankle for once.

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brilliantly put mikko, you get the point completely!

the only thing stopping this is public awareness. most people don't realise this is happening, but you can bet (no pun intended) your last cent that if they did, there'd be some pretty nervous shareholders out there.....

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Sounds like a good idea. All of regular people's income is taxed.. and any interest income is taxed. (unless deferred to be taxed later) So, why should these worms get away scot free?

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They are either psychopathic elitists or completely disconnected from society. Why would they care about us?

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Posted (edited)

They are either psychopathic elitists or completely disconnected from society. Why would they care about us?

.

they wouldn't care about us because we haven't done enough to FORCE them to care about us Orc.

they move in an unseen, unregulated world, and it's time they were stopped. they are bringing economic disaster on NATIONS, not just individuals or companies, and the money they take should be used to repair the damage they cause, not to make their shareholders richer.

Edited by shrooma
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