The Tobin Tax - Ellen Brown on Economics 101

[sgpnc]

No problems, leftists. Enact a Tobin tax. We leave the U.S. for good. But that means we also don't pay our income tax anymore. I'm sure you'll feel much better about yourselves, not sponging off of us.

[runarolsen]

Wow you should get somebody that actually know something about economics! Ellen Brown is an idiot! Tobin tax will just raise the cost of the financial services you receive. Your mortgage, bank account, payments etc. The solution is not a new tax but to lower the other taxes. Solution for bankrupt states is to stop being such busybodies trying to involve yourselves in everything. Cut the budgets and cancel programs

[etzel33]

@runarolsen You're the idiot dude. Fucking Austrians think they know everything.

[hummarstra]

I think Ellen is SO attractive. :)

[mooninquirer]

Ellen Brown should be the top consultant for every state, which should start their own states banks independent of the Federal Reserve system, and print their own currencies. Those who say that is unconstitutional, just make the argument that the Federal Reserve Act is unconstitutional.

[jimmyrtle]

Wow, I thought Ellen was an idiot before.

Now that I see she's in favor of the Tobin tax, that confirms her idiocy.

[LibertaerUeberAlles]

Not very realistic. Firstly, just because the IMF is discussing it, it doesn't mean we have to let it be imposed on us. Secondly, where will we find the angels who'll legislate this tax in such a way that it'll actually benefit the people, instead of benefiting the bankers themselves? -- you know, the bankers who buy the politicians.

Me thinks declaring State-level sovereignty and rejecting all taxes at the Federal level would be the cleanest solution.

[mooninquirer]

@LibertaerUeberAlles Ellen Brown seems to be in favor of that as well, in her support for state banks and state currencies. As for the problem of angel politicians, a good argument to make is that 100 % of our federal tax goes for the bankers and war profiteers, and therefore, you support the elimination of all federal taxes. It is NOT a tax cut for the rich ---- it is an elimination of this system which is welfare for the filthy rich Jewish bankers.

[ProsperityGlobal]

Ellen Brown has to be appointed Secretery of the US Treasury.

[orangedac]

goldman sachs has already filled the govt with enough of its stoooges to game the system.

[coltrane1966]

James Tobin a disciple of John Maynard Keynes, never has so much damage been done by so few.

[4rcane]

dumb. The money comes from somewhere. Where do you think financial get their money from? The PPL. This is essentially a tax on the people, then redistribute half to state, then half to rest of the world.

[ProsperityGlobal]

The 1% Tax on all financial Transactions must be implemented NOW.

[OsamaBinForgotten2]

Real journalism, I love it. Thank You James

[matsutakneatche]

the economy cannot be saved- i repeat the economy cannot be saved- buy food and learn how to start a fire in the rain- the system is broken /corrupt- 13 trillion dollars in debt growing 100,000 every 4 seconds---Amerika has no gdp- i repeat nop gdp- lol buy a gun

[gunsandbullhorns]

I can't condone a Tobin Tax. It sounds like a good idea to class-conflict theorists who don't understand economics.

[WilhelmDrake]

You mean people like you? The rich are the most class concience of all, them agaisnt us (the rest of humanity).

[gunsandbullhorns]

I rest my case.

[WilhelmDrake]

Not much of a case. In fact most economist don't understand economics, they understand some closed mathematical system that bears no relation to the real world. I rest my case. (With no evidence or observations, just innuendo, like an economist)

[WilhelmDrake]

l like you

[gunsandbullhorns]

Ha ha ha! ;D

I didn't think we would agree on anything. Yes, you're right. Most economists don't understand economics. They like to pretend value and utility can be expressed with cardinal numbers. They treat economics—a social science—as if it were a physical science. They like to build economic models that resemble a physics or chemistry experiments. It should not surprise us that the "top economists" are wrong more often than the common lay person who never touched an economics book.

[WilhelmDrake]

I couldn't agree more.

[032125]

You say that with such a sincere sense of the otherness of "the rich" that it's comical.

[WilhelmDrake]

@032125

Glad to be of service. :)

[jimholiko]

A very intelligent discussion...

[watcher0777]

she advocates the tax, and then she mentions they and says we the people of the states should get a/our share because (they), international are going to do this anyway. well who are they and why is it good or better that they get more tax money from a system that is a false balance and is an abomination to the Lord because of the FRAUD and it's MO. the source of these economic problems is Fraud and the perpetrators of it. watch?v=Rz1b__MdtHY

this vid is great in pointing out the orgins

[watcher0777]

cont. picking up: pointing out the orgins and the continuation of the fraud, i.e. the same things are continuing to happen by the same people that caused the fraud debt and inevitable collapse that will inevitably happen. to advocate getting a piece of the action from fraudulent criminals and allowing the political enabler criminals to exercise with more of the hard earned substance of the people is hardly a solution. had a copy of her book, and i cannot read everything, so it is at the library.

[watcher0777]

her book looked great and i just did not find the time, had to return it.

[PennnSmith]

Yeah. We need bigger government. More tax would deliver. Tax Tax Tax...

...tax everyone.

[brossen99]

The " Corporate Nazis " will never allow their puppet politicians to introduce any form of Tobin Tax, but perhaps far better to simply outlaw all derivatives trades by the stock market parasites ?

[LibertaerUeberAlles]

@brossen99

WINSTON CHURCHILL

"Germany's unforgivable crime before the second world war," Churchill said," was her attempt to extricate her economic power from the world's trading system and to create her own exchange mechanism which would deny world finance its opportunity to profit." (Churchill to Lord Robert Boothby, quoted in the Foreword, 2nd Ed. Sydney Rogerson, 'Propaganda in the Next War' 2001, orig. 1938.)

[mailbox0009]

Think about how the Tobin tax will impact on the the underlying structures. The current money system by design moves money/value from the people to the keepers of the money supply. City traders who bet the price of assets up are destabilizing the real economy; they create NO actual value, in fact they reduce the value of the coins in our pockets every time they make a speculative trade, just like any other Ponzi scheme. Educate yourself. Ellen Browns Web of Debt is a good place to start.

[58robbo]

what a load of tripe.

[Absynthe12]

In the past had no problem with people being rich. But , since Goldman Sachs and others have been given such a big profit with our tax money I now be grudge them the money they get. I am disgusted.

[5starrater1]

Just checked out this lady's site - she has written some amazing books. Thanks for the intro.

[koolmom21]

You can try to fix the problems of our economy from many points of view but it will not stop "Jessie James without the gun".

Taxes and interest rates are killing our way of life.

We need to focus on cleaning house.

When you depress the people's way of life our economy suffers. Give the people back their wages and let them spend. High spending from the people create jobs.The more free money people have (not just for bills) the more jobs.This will create higher demand and demand means growth.

[SirFelix377]

The tax will just be passed on to the little guy, another tax on main street.

[THX1948]

Good idea, as long as there exist a area that is devoid of taxation, that is counter productive to the economy as a whole then it must be closed. Derivatives should be abolished, or if used, then REAL money has to be put up against these trades, whether its, land, currency, or some other measured asset. If the trades lose, then that capital is lost, but others will gain it. If they want casino style betting, then casino style leg breaking should occur if they cannot pay, not have taxpayers

[radon1234567]

last thing we need in America IS MORE TAXES! As if the size of gov't wasnt totally out of control already! Here is a better idea STOP THE BANKS FROM TRADING IN THE STOCK MARKET! Arrest and execute the bankers behind the bank bailout and tarp scam! Ive got news for you, when a bank like goldman sachs bribes the gov't to appoint its c.e.o. to secretary of treasury and gives trillions to the banks so they can manipulate the markets, pay themselves billions, pay foreign banks billions, ITS TREASON!

[dubified89]

Calm down and start dealing with reality

[motorolarules]

We want ALL of ANY tax imposed on us. All back to the states none to the Federal boy

[watcherjohnny]

Ms. Brown clearly has not a clue. Tax trading transactions? State ownership of banks is the "ultimate solution"? Please consider going back to your former profession Ms. Brown.

[hugolp]

This woman is phony. She does not have a real economic plan and her ideas dont hold for a moment.

[zbigniewzapora]

We must remember what is source of the problem and not the symptom. Source of the problem is government controlling our very lives. Symptom is GS getting into goverment and abusing its powers. It is always the same - if goverment has power to give you all you need it has also the power to take it all away from you. Reduce the size of governemnt to constitional and then it wouldnt matter who is in government - they would not have control over economy at all.

[zbigniewzapora]

@zbigniewzapora

because it would all be voluntary and without government coercion - a true laissez faire capitalism upon which USA was founded.

[RCinPAWA]

The Tobin Tax will hurt the little guy - even a graduated tax.

The day they impose a tax on trading will be the day I close my brokerage account and become a full time farmer. After all, the government can't tax my chickens for their egg production or my corn for producing nice big ears.

[livefreeordie2008]

@RCinPAWA give them time they'll come up with a way they always do.

[RCinPAWA]

Livefree, You're probably right. They will come up with a way to tax my hens and crops. Collecting is another matter.

[livefreeordie2008]

agreed. they wont collect from me

[koolmom21]

You are right but the day you buy your land to farm, will be the day they say you can not grow food on your land. They get us coming and going.

Have a nice day.

[RCinPAWA]

koolmom, I wouldn't be surprised if the government didn't try to impose restrictions on what I can grow or if I can grow anything at all. I just hope the enforcement team is willing to die to enforce their restrictions because I'm willing to die to preserve the right to grow food on which to live.

[koolmom21]

You are not alone.

[zbigniewzapora]

Idea of this "tobin tax" is riddiculous. Government and taxes are never solution. All it will do is further undermine capital formation of USA. Most of this tax will be paid by common man trying to get away with his savings from inflation (created by state run FED) to risky investments in wall street. The purpose of this tax is to a) finance state deficits caused by politicians and their socialistic agenda and b) to further reduce competition for GS

[misterwolf29]

Excellent vid

[LunkwillFook]

C'mon Ellen,

is that really your bedroom?

[hornshwangler]

Golden Slacks pays less than 1% tax on profits as they have set up shop in the Cayman Islands and don't realize the profit in the US. That's their story and they're stickin' to it.