Forex Transaction Tax
- Thread starter seasideheights
- Start date
That what I F*ckin get for being so cavalier about others troubles. They are really tryin to get us ALL.
FX market is where the giants are tho, so I'm not overly worried.
"They" will kill this.
<b><i>How about these government's cut spending. Regardless if you tax financial transactions, cigarettes, cell phones, Big Mac's, or fucking uping the cost of dog permits, regardless you have wealth redistribution happening.</i></b>
It is easier said than done. Plus not all of it goes towards wealth redistribution.
44% of the 2008 US budget goes to social security and medicare. I doubt most of our elderly people would agree to eliminate social security or medicare.
Another 21% goes toward Defense. Since most Americans were in favor of attacking Iraq, I doubt most Americans would agree to downsize our military budget.
Then you have 1/3 left that goes towards things as FEMA, etc.
It is easy to criticize wasteful spending. But ridiculous items such as the Alaska "bridge to nowhere" makes up a tiny, tiny percentage of our total budget.
It is easier said than done. Plus not all of it goes towards wealth redistribution.
44% of the 2008 US budget goes to social security and medicare. I doubt most of our elderly people would agree to eliminate social security or medicare.
Another 21% goes toward Defense. Since most Americans were in favor of attacking Iraq, I doubt most Americans would agree to downsize our military budget.
Then you have 1/3 left that goes towards things as FEMA, etc.
It is easy to criticize wasteful spending. But ridiculous items such as the Alaska "bridge to nowhere" makes up a tiny, tiny percentage of our total budget.
ok we owe trillions to our seniors n the form of ss medicare etc,,USA will spend over 100 bil just to bail out GM,,several hundred billion for AIG and untold billions for our banks, it is the investing class who came so close to destroying our financial system, there werent enough checks n balances n place to protect everyone. Greed enabled a few to speculate with other peoples money n almost bring down the whole house. A small tax would be in order to rebuild our financial system,,if the people think its worth it.
this is more a symptom of the waste in the rest of the budget than the cause. waste and fraud is everywhere in the government, particularly in the areas you mentioned of medicare, medicaid, and defense spending.
for example, the government overpays medicare bills to insurance companies by $40 billion a year, the equivalent of you overpaying your bills and never worrying about getting it back. look at tarp, sheila blair said they lost hundred of billions. they just don't know where it went. there are monster government defense programs that produce nothing.
the crux of the problem is the system in place rewards waste and punishes efficient spending, much like banks today, there is an incentive to take on risk, because the rewards far outweigh the punishments.
department budget appropriations must be used, or they could be taken away, so there is an active incentive to defend wasteful programs and to lobby for more (so you have a bigger budget to play with or at least don't lose what you have).
another incentive for waste and abuse is the revolving door, as the people in charge of these allocations are rewarded with high paying jobs at large defense contractors and lobbying firms in the private sector once they leave their government jobs, in a quid pro quo for services rendered, as well as for their connections with former coworkers to further influence wasteful budget decisions.
So they want to tax forex trades to fund aid to poor countries? Whats up with that? Isn't the UK in bad enough shape already? Now they want to tax forex trades and send the proceeds to some third world country (thats the way I read it). Give me a break.
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