[Pen-l] so you know

["Charles Brown" <charlesb@xxxxxxxxxxxxxxxxxxxxx>]

Dan Scanlan wrote:
> I think the basic idea is to eliminate income taxes on "living
wages". I
> personally don't give a whit how the over rich get taxed, just as
long as
> they do.

the nice thing about a Tobin tax is that it not only taxes the rich,
but it has the positive side effect of discouraging speculation and
thus speculative bubbles. In fact, intelligent capitalists who think
about the long-term interests of their class likely would favor this
kind of tax, because a bubblicious economy hurts their interest. It's
thus the kind of reform that's most likely to pass in the absence of
mass political mobilization, especially after a period of stagnation
worsened or caused by financial speculation. It's an FDR-type reform.
It's also not a panacea; it does not end the basic contradictions of
capitalism. Nor does it guarantee that the government will spend the
extra revenues in the interest of working people.

^^^
CB: Sounds like Trust busting a hundred years later. You go To-bin  (
Is Palin the reincarnation of Teddy Roosevelt ?)




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