Robin Hood tax for banks.

[K626]

Originally Posted by sjkted

A little logic here. Government bails out banks. Government starts bailing out companies. Government starts nationalizing programs such as student loans. If all of these are bailed out and nationalized, then where does the government get it's money from? Who is really being taxed here?

--sjkted

I see your point, but a transaction tax is exctly that...It will tax the banks. As an aside, the Eu wouldn't work without masses of govt borrowing and debt...

[sjkted]

Originally Posted by K626

I see your point, but a transaction tax is exctly that...It will tax the banks. As an aside, the Eu wouldn't work without masses of govt borrowing and debt...

Yes, and where does the bank get its money from?

--sjkted

[sjkted]

Here's some food for thought. Sales tax is a tax on the merchant. The money comes out of the merchant's bank account and goes straight to the state. The merchant is responsible for paying the tax and is responsible for the necessary paperwork. The state does not require that the merchant pass the tax onto the customer. But, wait where does 100% of the company's revenues come from? Unless they are government subsidized, all of it comes from the customer. And even if they were subsidized, it would still be coming from the taxpayer.

In other words, this is a proposal for a tax on you and me and anyone else who uses money and has a bank account.

You may choose as you wish. If you vote yourselves into slavery, at least don't say nobody warned you.

--sjkted

[K626]

Originally Posted by sjkted

Here's some food for thought. Sales tax is a tax on the merchant. The money comes out of the merchant's bank account and goes straight to the state. The merchant is responsible for paying the tax and is responsible for the necessary paperwork. The state does not require that the merchant pass the tax onto the customer. But, wait where does 100% of the company's revenues come from? Unless they are government subsidized, all of it comes from the customer. And even if they were subsidized, it would still be coming from the taxpayer.

In other words, this is a proposal for a tax on you and me and anyone else who uses money and has a bank account.

You may choose as you wish. If you vote yourselves into slavery, at least don't say nobody warned you.

--sjkted

Nearly all wealth is generated by our endevour and then it moves around, but mostly returns to the center. This is a way of getting some of it back out to the periphery (see Soros)...One big upside to this is that it isn't a people tax in the sense that the bankers won't be able to avoid it...It is a transaction tax...Ultimately if you think that theoretically they will pass the cost back to us...Well you can say that about all tax...Ultimately we pay and in that sense this is no different. But personally I'd rather increase banking tax then higher taxes on goods etc...

What ideas would you implement regarding tax?

[sjkted]

Originally Posted by K626

Nearly all wealth is generated by our endevour and then it moves around, but mostly returns to the center. This is a way of getting some of it back out to the periphery (see Soros)...One big upside to this is that it isn't a people tax in the sense that the bankers won't be able to avoid it...It is a transaction tax...Ultimately if you think that theoretically they will pass the cost back to us...Well you can say that about all tax...Ultimately we pay and in that sense this is no different. But personally I'd rather increase banking tax then higher taxes on goods etc...

What ideas would you implement regarding tax?

This is one of those ideas that sound good on the surface, but can't ever amount to anything.

The question is how the banks will recoup the money. I can think of some things. How about no more free checking accounts? How about fees to access bankers by phone? How about less staff and shorter hours? How about additional fees on credit card and ATM transactions? How about higher interest rates on loans and credit cards?

The one thing I can tell you 100% is that NONE of this money will come out of the executives' pockets. It's just a way for the plebe class to feel good about sticking it to the bankers.

What would I do regarding tax? Personally, I would get rid of as much of it as possible.

The problem we have here is that from the destruction of glass steagal act, normal banks can start issuing exotic bets like CDOs, mortgage-backed securities, etc. The other issue is that we have a fiat currency. People today are confused. Paper is not wealth, it is just paper. Real wealth is ownership of property.

We need to get rid of fiat currency. One way to do that would be to promote competition in currencies. Let states print their own money. Let people transact in gold and silver. Let the market come up with something and let the people choose how they want to transact.

Notice I keep using the word let. The only thing taxes does is take. It also doesn't take very effectively as evidenced by the large amount of government waste. The problem here is that you can't hate the player, you can only hate the game.

The system is doing right now exactly what it is designed to do. I know everyone can argue special interests, Illuminati, corrupt bankers, etc. but if you look at the current financial system and who the power is given to and how it is brokered, it is just insanity. How could you not have a small minority of people who control the world's wealth?

The only way this can be rectified is by taking the control away from the bankers and putting it in the people's hands where it should be. And the only way this can happen is by abolishing the world fiat standards and laws.

--sjkted

[mntruthseeker]

Tax the churches ?????

Get rid of them is the answer. first grab the gold hehe

[sjkted]

Here's another problem with taxation. There is quite a moral dilemma involved.

Most people agree that it is wrong/immoral to steal from others. If you steal, you can be put in prison and convicted.

Now some types of taxation could be considered to pay for services. Interestingly enough, these are usually hidden from the public. This is all part of the larger strategy. Most people will tell you their income taxes go to pay for roads and highways. Wrong! The amount is paid by you at the pump in the form of a fuel tax. These should be brought up to the consumer, so 1) we know what we're paying for and 2) if we don't like the service (i.e. roads, bridges, highways) we can collectively demand that something be done about it. Instead, we don't even have a clue how it is being paid for, how much it costs, and get an idea of whether we're being screwed or not.

Back to the immoral issue. This is a story I heard a while ago and think of a bit.

Let's say there is an old lady who lives in a neighborhood and she can't afford to hire someone to cut her grass and she's too frail to cut it herself. The neighborhood has a meeting and decides something must be done as her grass is out of control. They find a local teenager and demand that he must cut her lawn. So, he works to cut the lawn without pay. Some people might call this indentured servitude. This is exactly what taxation is. Most people would say that indentured servitude is wrong, immoral and unjust but taxation is just a mechanism so we can do this and collectively feel ok about it.

Yes, there are always going to be people in need. But, how little do we really think of ourselves and our neighbors that we need to coerce them in order to help each other? Forcing (or taxing) people creates a disincentive for them to form co-ops and help each other. The reason is that everyone has their hand held out to the government and those who don't receive are angry at those who do.

This is absolute madness! We need to help ourselves, our neighbors and our community. We don't need no stinkin' government subsidy programs to fix our problems. What are we a bunch of weak, ignorant pathetic excuses for human beings? We can help each other! We don't need to steal from Peter to pay Paul. This is an outrage!!!

--sjkted

[Steven]

This looks like the Tobin tax: http://en.wikipedia.org/wiki/Tobin_tax

The Tobin tax goes further by taxing all financial transaction of 1%...

Why don't we limit profits on loan as well by the way...

Anyway, many solutions exist in transforming financial transaction to a more ethical way.

http://projectavalon.net/forum/showp...8&postcount=20

Great idea!

Namaste, Steven

[sjkted]

Originally Posted by Steven

This looks like the Tobin tax: http://en.wikipedia.org/wiki/Tobin_tax

The Tobin tax goes further by taxing all financial transaction of 1%...

Why don't we limit profits on loan as well by the way...

Anyway, many solutions exist in transforming financial transaction to a more ethical way.

http://projectavalon.net/forum/showp...8&postcount=20

Great idea!

Namaste, Steven

Yes, there are many good solutions, but the question is whether we attempt to just put a bandaid on a broken, unethical system or whether we actually replace it with something that does work.

--sjkted

[Steven]

Originally Posted by sjkted

Yes, there are many good solutions, but the question is whether we attempt to just put a bandaid on a broken, unethical system or whether we actually replace it with something that does work.

--sjkted

I totally agree. We haven't create the light bulb by improving the oil lamp!

Namaste, Steven

[K626]

Originally Posted by sjkted

This is one of those ideas that sound good on the surface, but can't ever amount to anything.

The question is how the banks will recoup the money. I can think of some things. How about no more free checking accounts? How about fees to access bankers by phone? How about less staff and shorter hours? How about additional fees on credit card and ATM transactions? How about higher interest rates on loans and credit cards?

The one thing I can tell you 100% is that NONE of this money will come out of the executives' pockets. It's just a way for the plebe class to feel good about sticking it to the bankers.

What would I do regarding tax? Personally, I would get rid of as much of it as possible.

The problem we have here is that from the destruction of glass steagal act, normal banks can start issuing exotic bets like CDOs, mortgage-backed securities, etc. The other issue is that we have a fiat currency. People today are confused. Paper is not wealth, it is just paper. Real wealth is ownership of property.

We need to get rid of fiat currency. One way to do that would be to promote competition in currencies. Let states print their own money. Let people transact in gold and silver. Let the market come up with something and let the people choose how they want to transact.

Notice I keep using the word let. The only thing taxes does is take. It also doesn't take very effectively as evidenced by the large amount of government waste. The problem here is that you can't hate the player, you can only hate the game.

The system is doing right now exactly what it is designed to do. I know everyone can argue special interests, Illuminati, corrupt bankers, etc. but if you look at the current financial system and who the power is given to and how it is brokered, it is just insanity. How could you not have a small minority of people who control the world's wealth?

The only way this can be rectified is by taking the control away from the bankers and putting it in the people's hands where it should be. And the only way this can happen is by abolishing the world fiat standards and laws.

--sjkted

I'm not American, but I do follow what you are saying with regard to the dollar and the Fed. Why don't you guys print your own money and cut out the Fed, there is so much resentment against the Federal system and the Fed I'm really surprised you don't have a full blown revolution in Yanksville yo!!


Peace and love

K.

[sjkted]

Originally Posted by K626

I'm not American, but I do follow what you are saying with regard to the dollar and the Fed. Why don't you guys print your own money and cut out the Fed, there is so much resentment against the Federal system and the Fed I'm really surprised you don't have a full blown revolution in Yanksville yo!!


Peace and love

K.

We have quite a few people who are very angry at the system. I'm not sure it's a majority, but the numbers are quite large. So long as some people can benefit from the system which does tend to also be a quite sizable number of people, it won't be politically tenable to remove it. It will have to fail by itself. The good news is we're not that long off...

--sjkted

[Stargazer1965]

The Robin Hood Tax - March 2010

Dear merry men and women,

Can you believe it - it's been only four weeks since we launched the Robin Hood Tax?
A 10-metre high projection on the Bank of England kick-started the campaign. But it really began in earnest when Richard Curtis and Bill Nighy appeared on breakfast TV to show support and promote their video.
Out and about from Sherwood Forest

Merry folk have been sounding horns loudly around the country and on the web, making sure that everyone hears about the Robin Hood Tax.
We now have 130,000 Facebook fans and 64,000 people have voted in favour of the tax on our website. 32,000 of you have signed up for e-mail updates and we have almost 3,000 followers on Twitter.
The only small number so far is the 0.05% we think banks should contribute to make the world a better place.
With events in Cardiff, and video letters sent from campaigners in David Cameron’s constituency, Witney, and Gordon Brown’s home turf Kirkcaldy, our supporters have been busy making merry. In the US Jonathan Mann made this brilliant music video about the tax.
Since launch, the media has been buzzing with news of goings-on in Sherwood. Nobel Prize winning economist Joseph Stiglitz and 350 other economists publicly supported our campaign.
The campaign has already launched in Germany. France, Australia and the US are bracing themselves to be invaded by the (wo)men in tights.
Robin rides into Parliament

Thousands of people emailed their MPs and inspired an unprecedented number to attend a special briefing event at the House of Commons.
So far, nearly 1 in 5 Members of Parliament has expressed support for the tax. Welsh secretary Peter Hain was the first Cabinet Minister to lend public support. Conservative parliamentary candidate René Kinzett also showed support for Robin, as well as Labour MPs Jamie Reed and Andy Reed and Green Party Leader Caroline Lucas.
We need support in Westminster for the Robin Hood tax to happen, so ask your MP to sign up to support it.
Mites in your tights? Itching to do more?

Go for it! If you have:

1 Minute: Spread the word about the Robin Hood Tax - forward this email to your friends. 5 minutes: Ask your MP to support the Robin Hood Tax by signing the early day motion in Parliament. A bit more time Watch our event from the Royal Society of Arts. On 9th March Economist Jeffrey Sachs, Richard Curtis and a discussion panel talked about the tax and took questions from the floor and via the Internet. The whole event can be seen on the The RSA website
For other events around the country visit our Facebook page.

Thanks for all you're doing
from Robin and the team.

YOU'RE PART OF THE WORLD'S GREATEST BANK JOB


Got this today....

[Zeddo]

Originally Posted by sjkted

In other words, this is a proposal for a tax on you and me and anyone else who uses money and has a bank account.

You may choose as you wish. If you vote yourselves into slavery, at least don't say nobody warned you.

--sjkted

I'm glad I read this before I replied, yes, this is the problem in a nutshell. This is yet another way to impose a tax on the man in the street and sugar coat it to make it "appear" that the banks will pay. We need to understand that the banks WILL NEVER pay, but WTP will.

Z

[K626]

Originally Posted by Zeddo

I'm glad I read this before I replied, yes, this is the problem in a nutshell. This is yet another way to impose a tax on the man in the street and sugar coat it to make it "appear" that the banks will pay. We need to understand that the banks WILL NEVER pay, but WTP will.

Z

Well I'm glad you're glad.

[K626]

The investment banks will find it hard to pass it onto THE PEOPLE as their clients ain't the people but funds of the rich and famous......

[sjkted]

Originally Posted by K626

The investment banks will find it hard to pass it onto THE PEOPLE as their clients ain't the people but funds of the rich and famous......

Oh yeah, that's right. I forgot that investment banks weren't allowed to offer depository accounts. Oops. Turns out they can now.

Anybody have a checking account with Chase or formerly with Washington Mutual?

--sjkted