• Sen.Bernie Sanders introduces a bill to make college and 4-year universities free by taxing stock
    93 replies, posted
[QUOTE]On Tuesday, Sanders will hold a press conference in the nation's capital at which he will introduce a plan to use a so-called Robin Hood tax on stock transactions to fund tuition at four-year public colleges and universities. Sanders' bill sets a 50-cent tax on every "$100 of stock trades on stock sales, and lesser amounts on transactions involving bonds, derivatives, and other financial instruments," the group Robin Hood Tax on Wall Street said Monday in a press release. "The Robin Hood tax would also slow the growth of automated high frequency trading, which makes the stock market more dangerous," the press release stated. "A small tax would make risky HFT unprofitable, and help reduce the excess speculation on commodities like food and gas that drives up prices, which will protect the economy from computer-generated collapses and market manipulation."[/QUOTE] [url]http://www.bloomberg.com/politics/articles/2015-05-18/bernie-sanders-wants-to-tax-stock-trades-to-pay-for-free-college[/url]
It really isn't enough unless it also acts to pay for existing university debts. In Tennessee they recently introduced free two-year community college for students currently in k-12 schooling. I knew several selfish fuckers [I]against[/I] this change purely because they didn't get in on it. For voter support, and common sense anyway, the crippling debt preexisting needs to be diminished.
The source's read more button is a damn lie. Which makes me sad. Heres some more [URL="http://www.nationalnursesunited.org/press/entry/sen.-bernie-sanders-introduces-free-college-bill-powered-by-robin-hood-tax/"]information[/URL]. The bill hasnt been introduced yet, but I'm sure people will always find something to object with it.. as if the $0.50 tax rate per $100 is detrimental to their trading.
[QUOTE=bitches;47752556]It really isn't enough unless it also acts to pay for existing university debts. In Tennessee they recently introduced free two-year community college for students currently in k-12 schooling. I knew several selfish fuckers [I]against[/I] this change purely because they didn't get in on it. For voter support, and common sense anyway, the crippling debt preexisting needs to be diminished.[/QUOTE] New Jersey had a "STARS Program" where the top 10% of local high school graduates get [I]free[/I] community college if they maintain a 3.5 GPA throughout their two years. And the top 10% of the graduates from CC (must already be in program) get the same deal with a university transfer. It slowly ran out of money, getting first reduced to 5% of high school, then getting rid of the 10% after CC, then it just all died of money-loss.
At first I was gonna say terrible idea, but it's actually a reasonable amount (and hopefully for smaller things like bonds its even less) it could actually be a good thing. Taxes on capital gains already sucks total cocks but honestly, an extra 50 cents for every 100$ really isn't that much. If you aren't making gains that an easily absorb that then you need to rethink. Of course the biggest people that will oppose this are the HFT, which is generally done by the very wealthy who can afford to actually do HFT. Cutting down on automated HFT is a good thing too, it's caused some harm in the market over literally nothing other than bots fucking each other up.
0.5% tax seems more than fair
Good. This needs to happen...and, sadly, won't go anywhere in Congress 'cause 'muh bootstraps' and 'evil taxes' rhetoric. [QUOTE=bitches;47752556]It really isn't enough unless it also acts to pay for existing university debts. In Tennessee they recently introduced free two-year community college for students currently in k-12 schooling. I knew several selfish fuckers [I]against[/I] this change purely because they didn't get in on it. For voter support, and common sense anyway, the crippling debt preexisting needs to be diminished.[/QUOTE] Tennessean checking in. It annoyed me a bit that I couldn't get in on that due to graduating HS in 2008, but it's a good thing overall. Needs to be made available to any TN resident who has a diploma or GED.
Considering the majority of Congress is paid off by corporate lobbies who would hate to see this happen.... good luck.
.5% seems reasonable at face value but I would have to see some estimates on how this would effect my 401k earnings.... Bottom line- my 401k has to make money.
This man is balder than eagles.
I actually physically laughed because we'll never hear of this bill again, it's going to die before it even hits the floor
[QUOTE=Fhenexx;47753096]I actually physically laughed because we'll never hear of this bill again, it's going to die before it even hits the floor[/QUOTE] It's a damn shame that our country is like that, too.
[QUOTE=H8Entitlement;47753058].5% seems reasonable at face value but I would have to see some estimates on how this would effect my 401k earnings.... Bottom line- my 401k has to make money.[/QUOTE] This kind of thinking is exactly why most bachelors degree graduates owe more money to their college than a fucking house costs, and it needs to stop. 0.5% tax on your 401k is not going to make you lose money, and if it DOES then you need to choose different stock options. Likely your custodial fees are more than this will be.
Why not every time there is a transaction instead? Those who trade in higher volume would pay more. Any ways I'm liking the man more and more. Too bad the whole system is "sorta" rigged. More like massaged towards a certain result really.
[QUOTE=CrossTownNews;47753399]Why not every time there is a transaction instead? Those who trade in higher volume would pay more. Any ways I'm liking the man more and more. Too bad the whole system is "sorta" rigged. More like massaged towards a certain result really.[/QUOTE] It isn't "sorta" rigged. Lobbying itself is legal bribery; most of our politicians are practically, if not literally, employees of the companies whose interests they vote for. Our politics are completely corrupted, and our people are too stupid to vote it out.
The tax he has in mind seems more than fair. I hope this somehow makes it through, but knowing people right now, they'll be more than against it for whatever reason.
[QUOTE=bitches;47753418]It isn't "sorta" rigged. Lobbying itself is legal bribery; most of our politicians are practically, if not literally, employees of the companies whose interests they vote for. Our politics are completely corrupted, and our people are too stupid to vote it out.[/QUOTE] Rigging would to me be blantly stuffing the ballot box. Out right lying. That as far I know of doesn't happen. As for being employees of the corporations? Your point? That street can be worked two ways you know.
[QUOTE=CrossTownNews;47753524]Rigging would to me be blantly stuffing the ballot box. Out right lying. That as far I'm aware doesn't happen. For people being too stupid? Yeah that means its the voters needing to be reformed. Not the system. It works fine. So figure out why the voters get that way and you get things working as they ought to be. The first thing that needs to go is all current ideologies and the false dichotomy. As long those in place, nothing will get fixed.[/QUOTE] So it isn't a problem that companies can give fortunes to politicians to buy their vote?
. The corporations are not the problem. Its the voters. You said it yourself. The voters are too stupid to vote them out. If the voters smarten up, they would vote out the corrupt bastards, then the corporations wouldn't be an issue would it now? So what making them suckers for punishment?
This is also a great way to get HFT folks to take their 50% of US market volume overseas. HFT trades are run on margins way lower than 0.5%. It will be impossible to make a profit. I don't understand why it can't be an increase in the capital gains tax. This just makes me pay for both gaining and losing money. I also don't like how HFT is immediately and blindly classified as risky. Sanders has a lot of good ideas but his reasoning behind them is often dumbed down - he argues that Wall Street is bad, but that's the end of it. There is a lot more to consider beyond "HFT might have caused the flash crash, therefore it's evil and we need to stop it". If you even look at its Wikipedia page, you'll see that there are pretty serious benefits to HFT that he simply ignores.
Imagine if the United States catapulted itself into the XXI century by taxing the fuck out of those companies and allowed all that population mass to have college without debting the fuck out of their lives. How would education costs drop. The same for medicine, imagine if those surgeries that cost 500% more than in Europe suddenly saw its price drop because there would be competition from private enterprises to attract customers from the statal service. If somehow the people changed its mindset and actually gave a fuck about the unions and stopped seeing contracts as the word of God where if an employer wants to abuse its employee it can. If states didn't have stupid and fucktard regulations like producer not being able to sell directly to customer and didn't stop or put stones into the path of companies like Tesla. Oh My Fucking God. The future is bright, I can see. Sanders 2016. America Awakens. Now, tell me I've convinced you.
[QUOTE=Cutthecrap;47753691]Imagine if the United States catapulted itself into the XXI century by taxing the fuck out of those companies and allowed all that population mass to have college without debting the fuck out of their lives.[/QUOTE] i didnt know free college was the prerequisite for a modern nation.
[QUOTE=ThePinkPanzer;47753716]i didnt know free college was the prerequisite for a modern nation.[/QUOTE] No, of course, not if you want to have a load of people debted until death and only letting those with most resources get the best out of education. Scholarships? HA....you must live in a fantasy world if you think a guy from the most lower class can afford the luxury of time in order to study and get outstanding marks while his family struggles to get by... Plus, if you look at it from an economic point of view, nowadays, what matters is knowledge and intellectual capabilities. You guys can have the ability to support the most poor all the way until a college degree, unlike here where the economic structure doesn't allow the poor to get into college (They drop either because public high school sucks hard -they don't get the idea behind 0.1 being 1/10 or 10%- or because they have to work for their families).
Or they could stop adding complexity to their tax system and instead do something like having indexed long-term capital gains taxed at the taxpayer's marginal income tax rate instead of like only 5-15% as it is now.
These bills disgust me. I guarantee that you would be against this if you had of your earnings in the stock market. I get it. Sure, it's cool to gang up against the bad guys, those dumb-ass, religious, anti-abortion, corporate republicans, but how wrong is it that the government comes after THE MONEY THAT I RIGHTFULLY EARNED? [editline]18th May 2015[/editline] I deserve to decide what happens with my money. I don't need corrupt politicians toying with my shit
[QUOTE=RocketSnail;47753766]These bills disgust me. I guarantee that you would be against this if you had any money in the stock market. I get it. Sure, it's cool to gang up against the bad guys, those dumb-ass, religious, anti-abortion, corporate republicans, but how wrong is it that the government comes after THE MONEY THAT I RIGHTFULLY EARNED? [editline]18th May 2015[/editline] I deserve to decide what happens with my money. I don't need corrupt politicians toying with my shit[/QUOTE] This bill disgusts me because it adds unnecessary complexity. But I mean come on, governments provide for things like emergency services, schooling, national defence and pensions. Those aren't free you know.
[QUOTE=RocketSnail;47753766]These bills disgust me. I guarantee that you would be against this if you had of your earnings in the stock market. I get it. Sure, it's cool to gang up against the bad guys, those dumb-ass, religious, anti-abortion, corporate republicans, but how wrong is it that the government comes after THE MONEY THAT I RIGHTFULLY EARNED? [editline]18th May 2015[/editline] I deserve to decide what happens with my money. I don't need corrupt politicians toying with my shit[/QUOTE] First of all, it's not wrong or right. You are just look from your perspective. If you want to know, your country's legal system was born because the whole country was in debt to some pricks and they were forced by the British to start collecting debts, which led to an angry mob to start doing some stuff -like printing paper money, something you would totally agree TODAY- which in turn led to people like Madison saying "Oh, no! The "people" are a mass of retards! We better put some guys in the judicial power to be more cool and impartial about the issues that affect our society". Guess the propierty of whom got saved? Second, so you're telling basically to destroy all the human rights and workers right that in some way exist in the US? Because the same logic can be applied. "I deserve to decide what happens with my workers. I don't need corrupt politicians toying with my business". What should disgust even more you is the fact that some people are left for their whole lives in the state they were born just because they were born inside that state.
[QUOTE=RocketSnail;47753766]These bills disgust me. I guarantee that you would be against this if you had of your earnings in the stock market. I get it. Sure, it's cool to gang up against the bad guys, those dumb-ass, religious, anti-abortion, corporate republicans, but how wrong is it that the government comes after THE MONEY THAT I RIGHTFULLY EARNED? [editline]18th May 2015[/editline] I deserve to decide what happens with my money. I don't need corrupt politicians toying with my shit[/QUOTE] I dont have an issue paying a little more in taxes if it means my children get an education with a less of a burden than what I had to go through. Fuck, actually I dont mind paying my taxes because I like having nice streets, schools that are top in the nation, and having public servants that aren't shit. I also like having a well funded military and all the social programs we offer. No money in the US is safe from taxing really.. if they want it, they can tax it.
[QUOTE=ThePinkPanzer;47753716]i didnt know free college was the prerequisite for a modern nation.[/QUOTE] An uneducated populace is literally the worse thing for a country and an economy, especially for the United States. The cheaper education is, the more brains we'll have turning the cogs of the nation forward instead of stagnating because no one can get a job better than Walmart or McDonald's.
I highly recommend everyone to read John Rawl's "Theory of Justice", even if it's incredibly outdated and has received some solid critiques. But at least it can make those critical thinking gears get on and make you reconsider what the state should do regarding wealth and opportunities.
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