Hello,
I'm new to this list. Robert Green suggested I join.
My view is that the only way to defuse the FTT is to show the public that it is going to come out of their pocket. This is the reality, because Wall Street will leave the arena, leaving only a tax on the public, who does not understand that the FTT is a tax on the core business functions that support the consumer.
So, what I see is necessary is education, and I proposerd to Robert that an LLC be set up for this purpose, to receive money and donations, for the purpose of educating the public.
The public does not care about traders, it does not care about spreads, liquidity, any of that. Traders are actually not considered an occupation by most, and in fact, the public thinks traders are gamblers.
So I don't think it does any good at all, to talk TO THE PUBLIC about the impact on Trader's lives, or abstract financial concepts they do not understand.
What matters to them is their own pocketbood, and when we truly analyze the FTT, it is a massive tax on the consumer, pennies at a time, to each individual. Just think about all the Foreign Trade that needs the Forex system. The costs are going to be passed to the consumer through Wall Mart, etc. Imported foods, wine...anything imported needs the Forex Interbank System to settle the currencies.
To me, if Obama is reelected the FTT could become a real possibility, as mentioned, his second term he will do whatever he wants and we know his historical ideology.
Even if Romney wins this issue will not go away. Because the populists believe truly, emotionally, that this is a way to punish the banks.
The only way to stop this, in my opinion, is to first recognize the populist anger is real. Then we need to show them that a FTT will be paid by main street....because the Wall Street money will simply go somewhere else...leaving only a tax that will trickle down to the consumer.
It is not enough to do this...they also need another direction to direct their energy. Anger is a powerful motivator. There are far better solutions than an FTT.
What I propose is to set up some very focused videos on youtube. We should be able to communicate the basic focused idea, that Main Street is going to pay the FTT, in 30 seconds.
If you remember one of Steve Job's talks about Apple Marketing...he said, even Apple needs to make an extremely focused, tight message because the American public is so distracted in modern life.
Once there are just a few excellent, short, focused videos on youtube, then we can start asking the populist leaders, the populist members, the journalists, congressmen, et cetera, to take a look there.
We create a tight focused message that cuts through the noise.
Thus, I don't believe it does any good at all, and is a waste of energy to talk to the public on the FTT in terms of how a trader sees it. They simply don't care.
I'm new to this list. Robert Green suggested I join.
My view is that the only way to defuse the FTT is to show the public that it is going to come out of their pocket. This is the reality, because Wall Street will leave the arena, leaving only a tax on the public, who does not understand that the FTT is a tax on the core business functions that support the consumer.
So, what I see is necessary is education, and I proposerd to Robert that an LLC be set up for this purpose, to receive money and donations, for the purpose of educating the public.
The public does not care about traders, it does not care about spreads, liquidity, any of that. Traders are actually not considered an occupation by most, and in fact, the public thinks traders are gamblers.
So I don't think it does any good at all, to talk TO THE PUBLIC about the impact on Trader's lives, or abstract financial concepts they do not understand.
What matters to them is their own pocketbood, and when we truly analyze the FTT, it is a massive tax on the consumer, pennies at a time, to each individual. Just think about all the Foreign Trade that needs the Forex system. The costs are going to be passed to the consumer through Wall Mart, etc. Imported foods, wine...anything imported needs the Forex Interbank System to settle the currencies.
To me, if Obama is reelected the FTT could become a real possibility, as mentioned, his second term he will do whatever he wants and we know his historical ideology.
Even if Romney wins this issue will not go away. Because the populists believe truly, emotionally, that this is a way to punish the banks.
The only way to stop this, in my opinion, is to first recognize the populist anger is real. Then we need to show them that a FTT will be paid by main street....because the Wall Street money will simply go somewhere else...leaving only a tax that will trickle down to the consumer.
It is not enough to do this...they also need another direction to direct their energy. Anger is a powerful motivator. There are far better solutions than an FTT.
What I propose is to set up some very focused videos on youtube. We should be able to communicate the basic focused idea, that Main Street is going to pay the FTT, in 30 seconds.
If you remember one of Steve Job's talks about Apple Marketing...he said, even Apple needs to make an extremely focused, tight message because the American public is so distracted in modern life.
Once there are just a few excellent, short, focused videos on youtube, then we can start asking the populist leaders, the populist members, the journalists, congressmen, et cetera, to take a look there.
We create a tight focused message that cuts through the noise.
Thus, I don't believe it does any good at all, and is a waste of energy to talk to the public on the FTT in terms of how a trader sees it. They simply don't care.