Bernie Sanders wants to tax Wall St to pay for college. 1/2% tax on all trades

[Amun Ra]

https://www.cbsnews.com/news/bernie...ld-erase-college-loans-by-taxing-wall-street/

Senator Bernie Sanders said he has a plan to wipe out the $1.6 trillion in student debt owed by more than 40 million Americans: tax Wall Street transactions such as stock and bond trades.

The proposal is the latest from a Democratic presidential candidate that aims to tackle the growing problem of student debt, which has been blamed for blunting the economic prospects of million of Americans. Sen. Elizabeth Warren, Sanders' rival for the 2020 Democratic presidential nomination, in April issued a plan to forgive student debt for college grads by adding an annual 2 percent tax on wealth above $50 million and a 1 percent tax on wealth more than $1 billion.

 

[dozu888]

why does he not just move to Venezuela and live happily ever after.

 

[Clubber Lang]

Why does Wall st have to pay for someone’s college loans?
Can any lefty here give a rational reason for that ridiculous proposal?

 

[FSU]

Seems reasonable, buy 100 shares of Amazon. Commission through Fidelity to make the trade, $4.95. Transaction tax $1,000.00.

 

[gkishot]

Stock traders and investors pay taxes already, it's called capital gains tax.

 

[El OchoCinco]

Isn't the growing problem of student debt caused by kids going to expensive colleges and getting useless degrees and cannot find jobs so they owe a lot of money?

 

[lindq]

https://www.cbsnews.com/news/bernie...ld-erase-college-loans-by-taxing-wall-street/

Senator Bernie Sanders said he has a plan to wipe out the $1.6 trillion in student debt owed by more than 40 million Americans: tax Wall Street transactions such as stock and bond trades.

The proposal is the latest from a Democratic presidential candidate that aims to tackle the growing problem of student debt, which has been blamed for blunting the economic prospects of million of Americans. Sen. Elizabeth Warren, Sanders' rival for the 2020 Democratic presidential nomination, in April issued a plan to forgive student debt for college grads by adding an annual 2 percent tax on wealth above $50 million and a 1 percent tax on wealth more than $1 billion.

On a 100K day trade, that's $500 in, and $500 out.

No problem. Piece of cake.

 

[Clubber Lang]

I guess I missed the part where someone forced the kids to borrow tens/hundreds of thousands of dollars?

No?

Oh ok, then fuck off and pay back what you promised and learn what personal responsibility means.

 

[destriero]

Seems reasonable, buy 100 shares of Amazon. Commission through Fidelity to make the trade, $4.95. Transaction tax $1,000.00.

Sanders is a f*cking moron. $0.50 per $100 notional yet $5 per $100K notional on derivatives (0.005%). Volume on the OpExes would increase ten-fold overnight.

 

[TreeFrogTrader]

On a 100K day trade, that's $500 in, and $500 out.

No problem. Piece of cake.

Not to forget that the Green New Dealer/Climate Changers and the Slave Reparations folks have their eye on that financial transaction tax scheme to get their free stuff too.

Also, some of the dems are calling for a "New Marshall Plan" whereby the U.S. would improve the economies of every country between Texas and Tierra del Fuego at the tip of South America- and some African countries too- to reduce the need for immigrants to leave their own countries. I am guessing that will be another area where "the wealthy" (anyone making more than 50K a year) will be asked to give more.

Couple trillion here and a couple trillion there and pretty soon we are talking real money.