Nicholas Ruiz III on Fri, 11 Dec 2009 19:06:45 +0100 (CET)

[Date Prev] [Date Next] [Thread Prev] [Thread Next] [Date Index] [Thread Index]

Re: <nettime> Paul Krugman: Taxing the Speculators ( - aka 'Tobin Tax')

many thanks for your thoughts ...

...the Public Trust would function as an institutional market player for
the purpose of financing public interests, so on the face of it, it would
not engender what you describe as "everyone stealing from each other, in
effect., and to an equal extent."

I agree that the tax code needs revision. Many agree we should work to
better the tax code for utilitarian purpose, even Warren Buffett:

(???He said rich people are not paying enough taxes,??? said Sen. Claire
McCaskill (D-Mo.). ???It was interesting to see someone who is such an
aggressive capitalist, who believes so much in our capitalist system,
saying we???ve got the scales way too heavily toward people who are very,
very wealthy.??? Buffett told lawmakers that because of the cuts to the
capital gains tax passed under former President George W. Bush, he pays
taxes at a lower rate than some of his company???s employees.) 


As for the scarcity of attention and competition for reception, the
commercial media stranglehold on mass communication effectively ensures
that ideas such as those of our own, or Nader's, Kucinich, etc. - will
never be widely apprised by the public.
Until there is a threshold level of communicative freedom and reciprocity
in the public arena, all of the views categorized as significantly
progressive are bound to be marginalized by corporate orthodox media.
Without a mainstream media outlet within which to communicate to the silent
majorities, the dissemination problem remains intractable.


----- Original Message ----
from: Michael H Goldhaber <>
to: Nicholas Ruiz III <>
sent: Thu, December 10, 2009 6:32:43 PM
subject: Re: <nettime> Paul Krugman: Taxing the Speculators ( - aka 'Tobin Tax')


As I see it, the high earnings of some banks and hedge funds can be viewed
as the modern (computerized) form of coin shaving, in effect stripping off
other's wealth as those others attempt to profit . The sources (eventual
losers) are  many pension funds , public and private, mutual funds,
charitable foundation endowments, average stock investors, anyone who
"saves" (very much including Chinese workers as well as investors),
recycled petrodollars, university endowments, insurance funds and so on.
More or less, the high earnings in are "robbing Peter to pay Paul." And the

#  distributed via <nettime>: no commercial use without permission
#  <nettime>  is a moderated mailing list for net criticism,
#  collaborative text filtering and cultural politics of the nets
#  more info:
#  archive: contact: