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

[DaveV]

Several of the Democratic Presidential candidates have proposed plans to eliminate or reduce student loan payments. What I have not heard is any plans to address the root problem - Why is a public college education so expensive, and increasing annually at a much faster rate than inflation? Perhaps we can start by reducing big time college sports (only 20 of 1083 colleges have a profitable sports program, with the average college losing $8 million per year); Stopping professors from changing 2 or 3 pages of their required text book every year so they can force every incoming student to buy the new revision at $150 per book, instead of buying a used copy.

And while we are at it, why do students majoring in fields that we have too many graduates (History, Art Appreciation, etc) getting the same amount of financial aid as those studying STEM fields that we desperately need more of?

 

[bathrobe]

Bernie Sanders first job was as Mayor of a small Vermont town at age 39/40, Bernie was kicked off of a COMMUNE for not doing any work. Why would anyone take advice from this guy.

He believes socialism is the answer, but when he lived in a socialist society (commune) he wouldn't carry his end of the bargain. He is a lazy, entitled goon.

Sweden tried this in the 80's, the volume left and never came back.

 

[ETJ]

"Sweden tried this in the 80's, the volume left and never came back."

Don't think they care. We lose hft and we lose a ton of volume - yet would be a good thing.
This may not be as much about Bernie as getting it into the Democratic platform.

 

[LS1Z28]

"Sweden tried this in the 80's, the volume left and never came back."

Don't think they care. We lose hft and we lose a ton of volume - yet would be a good thing.
This may not be as much about Bernie as getting it into the Democratic platform.

What do you think the odds are that the tax would generates anywhere near the revenue they're projecting if volume disappears?

 

[MKTrader]

What do you think the odds are that the tax would generates anywhere near the revenue they're projecting if volume disappears?

Yep, it won't meet the projections and will cause unintended consequences (for the worst) as usual...

 

[ironchef]

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

Because Wall St is where the money is.

That said, actually the Federal Government already have programs to pay off students loans for the student if he/she selected certain jobs:

https://studentaid.ed.gov/sa/repay-loans/forgiveness-cancellation

Just that many students, graduates are not interested in those jobs.

 

[ironchef]

the dems have been hijacked by the extreme far left.. now these candidates just try 1-up over the other guys to see who is more to the left.... wouldn't matter though... any candidate will be completely destroyed by Trump.... look at the fund raising so far.

anyway - the dems really need to have some fresh thinking... I been saying - they should run on the technology platform... the thinking of taxing the rich to remedy the poor was valid when the pie was limited and there was only linear growth in the pie... in the next years/decades it's about AI revolution and unlimited abundance.... why does the wealth gap even matter? just make the pie unlimitedly big and everybody will have enough to eat.

the silicon valley is very left leaning, why is there no candidate running on this platform? - 'vote for me - here is the plan to ensure everybody will have enough - and you won't work anymore because the robots will do all the work'

You stole his idea.

Andrew Yang

REUTERS/KC MCGINNIS
Yang in Iowa last year.
A former tech entrepreneur who started a nonprofit to promote startups, Yang entered the race Nov. 6, 2018 on essentially a single issue: protecting Americans from job-stealing robots. The son of Taiwanese immigrants, he sells himself as the opposite of Trump—an ego-free Asian man who likes math.

Age: 44 Years in politics: Less than one


Who gives him money: Individual contributors, some who donate in bitcoin. He’s also using some of his own money.

Biggest idea for the economy: A $1,000 monthly check sent to every American over 18, so they can pay their bills as robots take over jobs.

 

[nooby_mcnoob]

 

[nooby_mcnoob]

You stole his idea.

Andrew Yang

REUTERS/KC MCGINNIS
Yang in Iowa last year.
A former tech entrepreneur who started a nonprofit to promote startups, Yang entered the race Nov. 6, 2018 on essentially a single issue: protecting Americans from job-stealing robots. The son of Taiwanese immigrants, he sells himself as the opposite of Trump—an ego-free Asian man who likes math.

Age: 44 Years in politics: Less than one


Who gives him money: Individual contributors, some who donate in bitcoin. He’s also using some of his own money.

Biggest idea for the economy: A $1,000 monthly check sent to every American over 18, so they can pay their bills as robots take over jobs.

I like yang, he's the only one with a Trojan horse that'll kill the welfare state, and by welfare state I mean government employees and politicians

 

[GRULSTMRNN]

I would highly welcome that IF it equally affected hft. This would immediately wipe out any low latency trading and level the playing field. But of course will those locusts again somehow be excempt.

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

No problem. Piece of cake.