A small financial transactions tax could correct a number of maladies in our economic system, from the federal debt crisis to the widening wealth divide to the rampant financialization of the economy, while eliminating taxes on income and sales. The debt ceiling crisis has again brought into focus the perennial gap between what the government spends and what it accumulates in taxes, and the virtual impossibility of closing that gap by increasing taxes or negotiating cuts in the budget.
A dollar spent by our government is a tax uncollected. Without meaningful limits on spending, no new tax will fix this problem. In this particular case, this new tax will most likely only add to the tax burden and in a way that is largely hidden from view and easily increased over time.
Does he mention that this was already done as research for the Bush 2 administration? Edgar J Feige presented an Automated Transaction Tax in 2005 at a rate of 0.35% on each side of the transaction. I was so nerd sniped by it, I made a video: https://m.youtube.com/watch?v=5DQxJ2GZxS4
Does this fit into that picture of 'monetary economy'?.... Washington's $849 Million Capital Gains Windfall Shows 'Taxing the Rich Is a Really Good Idea' ... when Washington state lawmakers passed this fiscal year's budget, they anticipated collecting $248 million in revenue from the 7% tax on the sale or exchange of stocks, bonds, and certain other assets above $250,000.
--->>> A small financial transactions tax could correct a number of maladies in our economic system,
When debt-free gold transacts in eCommerce, with a mass based settlement, the only way that this can take place in market context is by an agreement of price. This means the USD price data is indispensable to the fair and completed market transaction,
The owner of the price data gets a piece of the transaction revenue. It's not a tax. It's an actual economic market service that has utility value. Central banks own all of that data.
Why waste aperfectly good USD global price data on measuring the value of oil when the USD price data can measure the value of market gold currency that goes round and round and round and round...etc....etc...
Bye-bye petrodollar ..... hello 21st century fishes and loaves as real economic growth becomes unprecedented.
What would reverse the growing debt-to-GDP ratio is real economic growth where the growth is fueled by the added energy of debt-free transactions. Wealth creation then flourishes.
Real economic growth then allows for interest rates to safely rise to have over-leveraged inflationary debt safely purged back to its "nothingness"
What culminates in the monetary model is a completion of circulating debt and circulating debt-free market based medium is a symbiotic dance. A hybrid. Bott sides are essential.
Everybody wins from the real economic growth, including government.
A dollar spent by our government is a tax uncollected. Without meaningful limits on spending, no new tax will fix this problem. In this particular case, this new tax will most likely only add to the tax burden and in a way that is largely hidden from view and easily increased over time.
Does he mention that this was already done as research for the Bush 2 administration? Edgar J Feige presented an Automated Transaction Tax in 2005 at a rate of 0.35% on each side of the transaction. I was so nerd sniped by it, I made a video: https://m.youtube.com/watch?v=5DQxJ2GZxS4
Does this fit into that picture of 'monetary economy'?.... Washington's $849 Million Capital Gains Windfall Shows 'Taxing the Rich Is a Really Good Idea' ... when Washington state lawmakers passed this fiscal year's budget, they anticipated collecting $248 million in revenue from the 7% tax on the sale or exchange of stocks, bonds, and certain other assets above $250,000.
Brett Wilkins, May 26, 2023
https://www.commondreams.org/news/tax-the-rich
This might be your most brilliant and important essay yet!
Best wishes,
Ingrid Naiman
--->>> A small financial transactions tax could correct a number of maladies in our economic system,
When debt-free gold transacts in eCommerce, with a mass based settlement, the only way that this can take place in market context is by an agreement of price. This means the USD price data is indispensable to the fair and completed market transaction,
The owner of the price data gets a piece of the transaction revenue. It's not a tax. It's an actual economic market service that has utility value. Central banks own all of that data.
Why waste aperfectly good USD global price data on measuring the value of oil when the USD price data can measure the value of market gold currency that goes round and round and round and round...etc....etc...
Bye-bye petrodollar ..... hello 21st century fishes and loaves as real economic growth becomes unprecedented.
public central bank noparty.ca
What would reverse the growing debt-to-GDP ratio is real economic growth where the growth is fueled by the added energy of debt-free transactions. Wealth creation then flourishes.
Real economic growth then allows for interest rates to safely rise to have over-leveraged inflationary debt safely purged back to its "nothingness"
What culminates in the monetary model is a completion of circulating debt and circulating debt-free market based medium is a symbiotic dance. A hybrid. Bott sides are essential.
Everybody wins from the real economic growth, including government.
Great book by a good man. Entirely worthy of testing!