If we ever get the courage both to exercise our votes and to tax the wealthy, we can pay off the national debt in no more than five years.
On average, we plodders pay ca. 9.5% sales tax nationwide for such necessities as food, clothing, shelter, etc., but no sales taxes are assessed on the more than $62 TRILLION in equities traded annually on the NYSE, the CBoT, the NASDAQ, etc. If we assessed a 9.5% sales tax on equity trades, we’d pay off the debt in under five years.
If taxing necessities people need to survive is all right, then surely taxing non-equities is also all right, particularly when it would benefit all society, not merely a small segment. After all, isn’t that what the Founding Fathers implied should be done when the wrote that stirring paragraph that begins “We the People . . .”?
If we ever get the courage both to exercise our votes and to tax the wealthy, we can pay off the national debt in no more than five years.
On average, we plodders pay ca. 9.5% sales tax nationwide for such necessities as food, clothing, shelter, etc., but no sales taxes are assessed on the more than $62 TRILLION in equities traded annually on the NYSE, the CBoT, the NASDAQ, etc. If we assessed a 9.5% sales tax on equity trades, we’d pay off the debt in under five years.
If taxing necessities people need to survive is all right, then surely taxing non-equities is also all right, particularly when it would benefit all society, not merely a small segment. After all, isn’t that what the Founding Fathers implied should be done when the wrote that stirring paragraph that begins “We the People . . .”?