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View Diary: updated:The Horror! EU proposes introducing Financial Transactions Taxes! (101 comments)

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  •  Good hearted effort but (2+ / 0-)
    Recommended by:
    NY brit expat, Eric Nelson

    It does next to nothing to alter an environment that incentivizes capital flowing to speculation, instead of in country investment.

    When the US had a 70% top income rate, more than half was returned in the form of tax breaks for capital flowing to US investments. GOod behavior was rewarded.

    IF you have 3 billion and say... 500 million liquid, why should you invest in a factory to make solar panels or Wind turbines in the US for a 5 to 10% return when you can make 20-30% in speculation. Thats the Rub.

    FDR 9-23-33, "If we cannot do this one way, we will do it another way. But do it we will.

    by Roger Fox on Wed Sep 28, 2011 at 02:17:53 PM PDT

    •  agree, the FTT should be only (2+ / 0-)
      Recommended by:
      Roger Fox, Eric Nelson

      part of a strategy to mitigate a problem, not the whole solution. It serves a small role; there are serious problems in the system that require structural answers. This is not meant to deal with those at all.

      "Hegel noticed somewhere that all great world history facts and people so to speak twice occur. He forgot to add: the one time as tragedy, the other time as farce" Karl Marx, The Eighteenth Brumaire of Louis Bonaparte .

      by NY brit expat on Wed Sep 28, 2011 at 02:27:07 PM PDT

      [ Parent ]

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