To avoid the “fiscal cliff,” tax all Wall Street transactions

A sales tax on all Wall Street transactions would generate a ton of money — after all, those transactions generate a ton for Wall Street in fees. To solve a big chunk of the impending “fiscal cliff” budget cuts the federal government needs to do is make like Groucho and say, “Clip me off a piece of that.” And as the video below explains, a great many countries in the world, including the U.K., do exactly that. We’ve even done it (Hartmann at 2:00 in the clip).

The point here — that Wall Street put us here by crashing the economy, and they should be made to pull us out — is exactly right. And the solution — place a sales tax on Wall Street transactions — is perfectly appropriate.

Listen to Mike Papantonio and Thom Hartmann as they discuss this; great short clip.

I’ve said before that the so-called “fiscal cliff” is really a Fiscal Bluff, a poker game — and at heart, a huge “I dare you to stop me” looting scam —  and Wall Street is one of the major perps. It’s this same billionaire class that’s driving the discussion, not just joining in.

Oddly (or not), the role of the billionaires class in ginning up this phony “fiscal cliff crisis” is missing from the media. But because the billionaires also own the media reporting on it, the no-tell policy makes perfect sense. (And if that makes it sound like the media is a propaganda arm of its owners, you get a prize. Exactly right.) Papantonio discusses the media role at 2:50.

Finally, a piece that isn’t mentioned here — that both “fiscal cliff” and “Fix the Debt” is a billionaire and Wall Street op — is just icing on the obvious.

They really are the perp; they really ought to pay. And we really ought to be saying so. Consider this a start. Thanks, Thom and Mike, for saying so.

GP

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Gaius Publius is a professional writer living on the West Coast of the United States.

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