Thursday, December 20, 2012

New Tax on Banks

The looming grim "fiscal cliff" can be easily avoided, in a way most Americans would find painless: add a new financial transaction tax.

The financial industries do not adequately pay their way. It's past time for The New Financial Transaction Tax. Or call it The Money Market Tax.

At less than a tenth of one percent, such a tiny tax will not bring doom & gloom to the world (though big bankers & financiers might say so. Major economists favor the tax). We might thus escape mechanized corruption.

In a culture of greed and payoffs, self-regulation is clearly insufficient. We must build safeguards into our systems. Tumbling the conspiracies years later is too little, too late. But the oversight bodies need resources - thus the Money Market Tax.

Recognize both Bohner & Obama are in the pockets of big bankers. Remember the bailout gifts & TARP? Instead of "hiring" the losers who'd caused the meltdown (at millions of dollars per financier) they could have directly helped the people. They've given immunity to hundreds of bankers & finance scum whose frauds cost trillions, and who remain personally wealthy. The bailout was dirty and irresponsible.

Look in the news for big banks paying huge fines - they've criminally stolen our future, and now pay pennies on the dollar without admitting guilt.

Ask your national lawmakers, left right & center, for The New Financial Transaction Tax.

Call it something catchy, and make the system work. With a Money Market Tax, our world will be a better place.