SERIOUS ABOUT THE DEFICIT? This is the least harmful way to stop the WALL STREET casino and bring down the deficit at the same time. Consider this paltry fee, $0.03 / $100.00 , on derivative millisecond trades and you do several ” good ” things for the Country. By paying this fee, the ” fast” traders have skin in the game. They may curtail their trading which would take some of the risk out of the system and protect the Country from their potential to implode. Second, the People collect Revenue sufficient to eliminate a yearly budget deficit. I call that a win win.
Someone corroborate the Maths. Best case you collect $1 Trillion in revenue yearly, which is enough to stop one years deficit. Here’s how it works, Millisecond trading is an advantage used by a few on Wall Street. If you’re not convinced of it’s power to make markets, I direct you to a book on the Wall Street Journal’s recommended list February 2012, THE FEAR INDEX , by Robert Harris , you be the judge. You’ll want to curtail derivative trading, after reading this book, a fun read, I assure you, but ” scary”, in it’s premise. Derivative trades, fast trades, are capable of making markets, there is no growth investment, there is no value investment, only the casino exists. For the love of the Country, curtail it’s use and bring sanity back to the Marketplace.
Please, corroborate the Maths. This would be the first fee charged that brings money back to our Nation and starts to stabilize our Monetary system.
- $300 fee based on $1 million
- $3000 per $ 10 million
- $ 30, 000 per $100 mil
- $ 300,000 per $ billion
- $3 million per $10 billion
- $ 30 million per $100,000 bill
- $300 mil per $ trillion
Conservatively speaking, $ 300 trillion a day flows thru derivative trading vehicles everyday. Therefore, the total fee to be gained by the Public is $3 billion a day. Multiply this by : 356 days a year. “3 x 356 = $ 1068 billion a yr.” , enough to eliminate the budget deficit.
This is the beginning. There’s more money available to the Public you just have to look. Sweat the small stuff but go after the big bucks. Then think how do you want to use the money. We know where to get it? It’s easy to fill the Federal and State coffers, It’s all about the money, accountability and utilization . Put this system in place, then think next step. Why take away small privileges when you can use one tool and do ” good” by the Country. It’s a win win. The first slice of a very large pie, producing enough revenue to cut the yearly deficit, every year! Are we serious about the deficit? Here’s your answer!