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2,222
646
Tuesday, June 18, 2013
FAIRFIELD-SUISUN, CALIFORNIA
99 CENTS
Transaction tax needed
Pressure is mounting in London to pursue a financial transaction tax.
With 11 European Union countries, including France and Germany, now opting for it, America and England cannot sit idly by on the sidelines. The U.S. and Britain are essential partners in this endeavor to avoid the risk of traders playing one jurisdiction against the other.
The time has come for this tax and America needs to get on board.
Bob Hunley
Fairfield
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Discussion | 7 comments
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freemanMarch 12, 2013 - 6:39 am
You're kidding aren't you, Bob? No time "has come" for any tax. Get your hand out of my pocket, Bob.
Reply |pornacMarch 19, 2013 - 7:12 am
Taxes the poor and middle class not the wealthy job creators.
Reply |Rich GiddensMarch 19, 2013 - 8:20 am
Why don't you reality challenged Californians move to Europe and take your Obama with you? Surely you will enjoy the 50% youth unemployment, 10 dollar a gallon gas and no reasonably priced consumer goods in the stores and shops.
Reply |Mike KirchubelMarch 19, 2013 - 8:48 am
Obviously these guys don't know what the financial transaction tax is all about. Maybe you should have explained it first in your letter and then suggested we get on board. The gears in the brains of the low information voters get stuck on the word "tax" and what little function they had, ceases.
Reply |RichMarch 19, 2013 - 8:56 am
Kirchebel----the term ''low info voters'' and ''politically correct'' are terms and euphanisms coined by Republicans and yes, you are the local leader of the mindless ''low information voters''.
Reply |rlw895March 19, 2013 - 10:34 am
Yes, everybody, this is not the "value added tax" that is already common in Europe. The VAT is like a national sales tax and it is genereally regressive (hits the poor harder than the rich). I'd prefer not to see that here. A transaction tax is on things like stocks and bonds, and for that reason is more progressive. Further, it puts the brakes on programmed securities trading, which also benefits the rich at the expense of the small trader and leads to market volatility.
Reply |rlw895March 19, 2013 - 10:34 am
This is a good idea. Naturally, the Republicans will oppose it.
Reply |