Great little video blog from Nicholas Kristoff in today’s New York Times suggesting an agenda for the somewhat directionless Wall Street protestors:
His suggested agenda that this blogger fully supports is:
- A Globally enforced Financial Transactions or Tobin tax on all financial transactions so that Wall Street endless recycling of the world’s GNP everyday slows down a little and generates much needed tax revenue.
- Eliminate the carried interest loophole that allows very wealthy people to reduce their tax liability
- End differential treatment of Capital Gains income: tax it at the same rates as the rest of us pay on earned income
- Introduce increased financial regulation of Wall Street: the tax payers bailed them out for their foolishness; let’s limit the extent of their foolishness in future.
This is Nicholas: