I wrote a post earlier today about the Tax Wall Street Party, which is chaired by Daniela Walls and strongly advocated by Webster Tarpley, historian, author, terrorologist, and philosopher of history among his many titles. I tried to cover some of the info in regards to not only the details of the party, but also their message and their meaning.
Later on in the afternoon I was discussing the possibility of a 1% Wall Street Sales Tax with my sister of all people, someone who is not very political, and she threw a familiar line at me. She stated that a Wall Street Sales Tax is a bad idea because it will affect senior citizens and their retirements. We will be senior citizens one day, and it will become more difficult even cumbersome to plan for retirement when all of your planning is being taxed.
The first time I ever talked to anyone about the Wall Street Sales Tax I was hit with the exact same reaction. The person I was discussing it with said in almost the same words "I am newly retired, and I am living off the interest of my IRA. I cannot afford to go down a single percentage point. (Moreover,) a Wall Street Sales Tax is the worst idea. It would only benefit non-investors."
These are some very notable things regarding the implementation of a tax on Wall Street turnover. We saw the same issues when John Linder was promoting the Fair Tax (a 23% National Sales Tax that would have brought income tax to zero and eliminated 90% of the IRS). Senior citizens might not get the best deal in this, but Linder assures us that any tax plan cannot be determined by a single demographic. As far as the Wall Street Sales Tax only benefiting non-investors......
I have not abandoned the Tax Wall Street Party as of yet. It would take a lot more than assertions of that nature to throw someone overboard.
Before anyone decides on the Wall Street Sales Tax, hear it out:
The Tax Wall Street Party is a very comprehensive organization that has a heavily detailed and nuanced platform. Their work has multiple meanings. As my recent post mentioned, the motivation behind the Wall Street Sales Tax is that positive change in a civilization occurs when the people in power make decisions that benefit the people who have the least amount of power.
After the Tax is in place, the Fed must be nationalized in the tradition of the 1st National Bank of the United States a la Alexander Hamilton. This leads us to the American System of Political Economy headed by Henry Clay. The American System is also the name of the podcast run by Daneila Walls and the Webster Tarpley Monday-Thursday AmericanSystem.tv
1% Wall Street Sales Tax. Nationalize the Fed. Then, the president needs to use the Fed to create a multi-trillion dollar infrastructure plan to give us 30 million living wage jobs. The entire undercurrent of this all is to create a positive development in society by trying to benefit those with the least amount of power. 21st Century Infrastructure and massive improvements to the lives of all of those in need.
One might say that the Wall Street Sales Tax would only benefit non-investors, but a response to that issue could be...well, that is the way our society must move forward. If we want to make a positive change in the world, we need to advocate for legislation that favors the entirety of the working population, not only a small fraction of it.
As of now, the Democrats and the Republicans have very few financial plans that are aimed to benefit the working class and the middle class on a long term basis, a small refund here a stimulus check there...but there is not a plan that would cause for a game changing development in American society such as placing a 1% Tax on Wall Street Turnover, such as a $5 trillion infrastructure plan, and healthcare for all.
The issues of the Tax Wall Street Party are so large and interconnected that they need to be heard in their entirety. Before one starts making responses to the Wall Street Sales Tax they need to learn that there is a large philosophical undertone. It is about supporting legislation that would allow for a larger benefit to the working class and the middle class. The current tax schemes only benefit what Bernie Sanders would call the Top 1%, but the Tax Wall Street Party identifies them as the Zombie Banks and the Hedge-Fund Hyenas.
Furthermore, the tax is only at 1%. Someone might think that that is outrageous, but I, as someone who regularly trades stocks and mutual funds, do not feel that it is outrageous. In all honesty, I confess I would not enjoy the feeling of paying the Wall Street Sales Tax every time I placed an order on my TD Ameritrade Account, but at 1%, it would not break me, and that is a perspective that all of us might need to consider. It is adaptable, and it could change the lives of millions.
In addition, the Wall Street Sales Tax is not a socialist measure. It is a center-left capitalist tax plan...I repeat a tax plan that can be applied to the capitalist system.
