[GPSCC-chat] Tax the Rich Banner

[Spencer Graves]

       Brian mentioned a financial transaction tax.  This seems to have 
broad support among leading figures like Stiglitz and Krugman 
(www.cepr.net/documents/ftt-support.pdf 
<http://www.cepr.net/documents/ftt-support.pdf>) but is opposed by 
Rogoff, claiming that simulations have shown it to be a bad idea, not 
delivering the anticipated benefits and limiting liquidity, making it 
harder for business to raise money for new ventures, etc.  
(www.project-syndicate.org/commentary/rogoff85/English 
<http://www.project-syndicate.org/commentary/rogoff85/English>) Rogoff 
is a professor of Economics at Harvard.  He is number 12 in an 
international ranking of economists;  Stiglitz is number 2 and Krugman 
is number 14 on that same list.  However, I'm with Stiglitz, Krugman and 
many others on this.


       Spencer


On 10/18/2011 12:03 AM, Brian Good wrote:
>
>   And if you cliick to enlarge and look on the sidewalk opposite the 
> left leg of the
> "W" you'll see my 14' tall representation of the 9/11 Commission 
> report full
> of holes.
>
>    I think "Tax the Rich" is vulnerable to the counterargument that 
> this would
> be of little practical value.  I'd like to see a transaction tax 
> graduated for the
> magnitude of the transactions--so that when speculators buy and sell
> huge quantities of securities to profit from (possibly manufactured) 
> blips in
> the market, they face confiscatory taxes.
>
>    Back in July Dr. Sharat Lin gave a lecture at SJPJC challenging the 
> myth
> that speculators stabilize the markets.  As I recall he showed that 
> speculation
> actually exaggerates market blips.
>
>
>
>
>
> > Date: Mon, 17 Oct 2011 22:37:49 -0700
> > From: gerrygras at earthlink.net
> > To: sosfbay-discuss at cagreens.org
> > Subject: [GPSCC-chat] Tax the Rich Banner
> >
> >
> > Remember the huge "Impeach Now" banner photographed from
> > the air? At Ocean Beach, SF?
> >
> > Well, they are going to do the same thing soon, except it
> > will be "Tax the Rich". Saturday, October 29.
> >
> > http://www.humanbannersf.com/
> >
> > Gerry
> >
> > P.S. If you look at the photo, you might see that the "C"
> > is pink, and the "!" is orange. That's because Code Pink
> > did the "C" and "World Can't Wait" did the "!".
> >
> >
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>
>
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-- 
Spencer Graves, PE, PhD
President and Chief Technology Officer
Structure Inspection and Monitoring, Inc.
751 Emerson Ct.
San José, CA 95126
ph:  408-655-4567
web:  www.structuremonitoring.com

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