1/4% Tax on all stock trades pushed in NY Times today

Quote from Redshak:

I realize a lot of work has gone into that web site....

Yet, who is the audience?

We have about 30 seconds to communicate a non-technical message to the public....

Traders already know the FTT is a bad idea.

The public is for the FTT because they think "Wall Street" is going to pay the tax. There is where the problem is.

Most people are not technical, sad to say. They want a simply slogan, sound byte, an easy concept, or a visceral pleasure (revenge, outlet for anger).

The FTT proponents are giving them that.

I don't think that web site is going to change anyone's mind who is for the FTT. To them it is an emotional issue, not a technical one.

Sorry, just my opinion.
More...

Target audience: Opinion-makers, opinion-leaders. People who need facts and resources, fast.

http://financialtransactiontaxes.com seeks to put reliable, credible resources at your fingertips...immediately. It seeks to ensure that, under the crush of a deadline and amidst the noise and fury of the Robin Hood advocates, reality isn't forgotten because it's unseen.

If you want to do direct battle with pro-FTT forces for public opinion via YouTube, you will need to produce videos that go viral not because of their message, but because of their entertainment value.

Think about it. Pro-FTT forces don't have facts or logic on their side; they have emotion. Those swayed by pro-FTT types aren't looking for facts or logic; they're swayed by emotion.

That's why attempts at persuasion based on facts and reason will be futile--and, quite possibly, counter-productive. And why, instead, direct public appeals will succeed only if they succeed in manipulating public emotions just as effectively as Robin Hooders have.

Or more effectively, really, as pseudo-populism always sells itself...at least for while. Of all the great demagogues of the left or the right (Lenin, Hitler, etc), none have pole-vaulted to power appealing to public interest in sane, constructive public policy that conflicts with populist quackery.

Anyway, back to YouTube. For a prime example of what you'll be up against, check out Richard Curtis' "Banker interview" video with Bill Nighy. I'd post the link here, except I know you can Google.

Watch how Curtis first sets up his straw man and then ignites him. Brilliant, all the more so as Curtis' "argument" in favor of the tax is idiotic; his straw-man banker is a moron and, clearly, neither Curtis nor Nighy have the faintest idea what they're talking about. Nevertheless, the production values are tippy-top; lighting, set-design, make-up, scriptwriting/directing from the team that brought you "Four Weddings and a Funeral," "Notting Hill," etc.

If you're not ready to go mano-a-mano with Richard Curtis on the field of YouTube and to WIN, I think you're best off focusing on those in the business of shaping policy.

Bottom line: Entertain the people and you'll have the people...or a lot of the people. Lecture the people and you'll just piss them off.
 
I posted two replys that were a summary and a proposal that are not yet in this thread. Not sure why.

I guess if my posts do not get into the forum then what?

I'll wait to see if the posts show up before I proceed.
 
It could be that we have divergent strategies. That is OK.

I believe the simple message "Main Street pays the FTT" will break the FTT fantasy both at the populist and leader level, and counter these celebrity youtubes.

It is real simple, Wall Street will stop making transactions and the only thing left in the markets will be the real economy. Then the transaction costs will be forwarded to the customer.

An example is Forex. When the Wall Street leaves, the main user of Forex will perhaps be the Import/Export business. That leaves it a direct tax on the consumer through price increases at Walmart, Target, the grocery store, et cetera.

Per Wikipedia, when Sweden introduced a FTT, the transactions fell quickly to a very low level and only a couple of years later they cancelled the tax.

If my other posts do not come into the forum, then what? Where are they?
 
Yes, part of my proposal would counter the visceral, emotional, immediate gratification appeal the FTT proponents are using by using metaphors to communicate.

With the right talent, it would not be so hard to produce funny videos that disabled the emotional FTT argument.

We do not need celebrities. Cartoon characters would be good enough. Or, we could film our own skits.

Like a hunter going out to bag some fat pheasant (the banker), but instead he misses the pheasant and hits the consumer.

Or, a man (tax man) chasing the pot of gold (wall street) at the end of the rainbow. Instead of finding the pot, he finally tires and grabs a pot of lead (the consumer) instead.

Or, a roadrunner like skit, where the coyote (FTT) tries to capture the roadrunner (Wall street) but instead shoots himself in the foot.

(Uncle Sam is the main Character: The InterBank transactions move overseas, and the USA PERMANENTLY permanently looses thousands of financial jobs to Hong Kong, Singapore. A complete replay of the loss of manufacturing jobs. Well, the intention was so clear...we are going to get the bankers. Well, the bankers are now in Hong Kong. Now Uncle Sam sits forlornly on the stoop, head in hands, Oh, another mistake! How can I be so stupid? )

Or a greedy Uncle Sam....oh, now that I have a transaction tax, why don't I simply extend it to take more money, this time directly from the financial transactions of individuals. (A reading of Defazio's FTT ...it is already moving in this direction.)


Things like this.

Comedy that shows the unintended consequences of an FTT.

Communication in metaphor, not boring technical statistics.
 
Quote from Redshak:

It could be that we have divergent strategies. That is OK.

I believe the simple message "Main Street pays the FTT" will break the FTT fantasy both at the populist and leader level, and counter these celebrity youtubes.
More...


You definitely have a point. Repeat the same idea over...and over...and over...and over...

Keep it to-the-point. Keep it short. Keep it focused on their wallets. Yep. No argument there.
 
I agree with Seaside Heights. The noise has been considerably lower lately, there is much less talks than at the end of 2009 or the end of 2011. France has implemented a joke of a tax, I am not sure this "example" will lead other countries to adopt one( LOL ), the EU is trying to implement one by enhanced cooperation but they are facing a lot of problems and we don't even know what kind of tax they will implement, the democrats are telling us *during a presidential campaign* that they are not interested and none of the important countries opposing the tax( US, UK, Canada, China, Singapore...) have changed their minds. Perhaps it's just that people are starting to forget. Journalists are tired of talking about FTT. We need a big bull market with Joe Six pack feeling super smart about his investments and we may be fine for some time.
 
At the top of the list of things that need to be done is for financial institutions to focus on risk management and do what it takes to avoid another 5.8 billion dollar trading loss or a stupid mistake that will make them poster boys for the cause, and a target of the press.
 
Quote from TraDaToR:

I agree with Seaside Heights. The noise has been considerably lower lately, there is much less talks than at the end of 2009 or the end of 2011. France has implemented a joke of a tax, I am not sure this "example" will lead other countries to adopt one( LOL ), the EU is trying to implement one by enhanced cooperation but they are facing a lot of problems and we don't even know what kind of tax they will implement, the democrats are telling us *during a presidential campaign* that they are not interested and none of the important countries opposing the tax( US, UK, Canada, China, Singapore...) have changed their minds. Perhaps it's just that people are starting to forget. Journalists are tired of talking about FTT. We need a big bull market with Joe Six pack feeling super smart about his investments and we may be fine for some time.
More...

The next time a bank or banker gets caught in a scandal the FTT volume will get turned up to high again. It will happen. I guarantee it. Demands for the FTT will headline the New York Times and the Huffingtonpost on a daily basis. The fact that the FTT hurts the man-on-the-street or that the FTT won't solve the banking crisis is irrelevant to the FTT fanatics. They want their pound of flesh and they don't care how they get it or how many innocent bystanders get hurt.

We, all of us, must continue to educate the public and politicians. We have to show them the destructive nature of the FTT now so we're not stuck playing defense every time this freakin' subject comes up. If we become complacent, we will end up with the FTT.

As they say in football and on the battlefield: "The best defense is a great offense."

Let's get on offense and stay there.

http://financialtransactiontaxes.com/
 
Quote from tomdavis:

The next time a bank or banker gets caught in a scandal the FTT volume will get turned up to high again. It will happen. I guarantee it. Demands for the FTT will headline the New York Times and the Huffingtonpost on a daily basis. The fact that the FTT hurts the man-on-the-street or that the FTT won't solve the banking crisis is irrelevant to the FTT fanatics. They want their pound of flesh and they don't care how they get it or how many innocent bystanders get hurt.

We, all of us, must continue to educate the public and politicians. We have to show them the destructive nature of the FTT now so we're not stuck playing defense every time this freakin' subject comes up. If we become complacent, we will end up with the FTT.

As they say in football and on the battlefield: "The best defense is a great offense."

Let's get on offense and stay there.

http://financialtransactiontaxes.com/
More...

I agree, and have said this consistently the last few years. We need to fight any beach head for FTT and try not to let is snow ball with further support.

The biggest push for FTT is to punish bankers and that attack is misguided since it falls mostly on Main Street. Next, we need to show its a net tax loser with reduced income taxes being greater than FTT revenues, which are far less than projections. It kills jobs too.
 
You must log in or register to reply here.
Back
Top