Bernie Sanders for President 2016 |
One of Bernie Sanders' big targets is the companies that make billions of dollars from managing stock trades. Your broker adds a fee to every buy and sell order you place but Uncle Sam doesn't. Bernie wants to toss in a 1/2% tax on each trade. That is 0.5%. This is not big money for most of us but if some billionaire wants to sell $100,000,000 worth of stock options he'll have to pay $500,000 to the government. Does that just break your heart?
Bernie also wants to tax all the money that big corporations are hiding in low-tax offshore accounts. By some estimates the Silicon Valley technology companies are hiding over $2 trillion in overseas accounts. Under the current tax laws they would have to pay the government about $700 million if they brought that money back into the United States.
Mind you, these companies are not doing anything with that money. They are not paying it in dividends to their stockholders. They are not creating new jobs. They are not building new campuses. They are not buying new equipment. The money is just sitting in offshore accounts, building up interest. Is that any way to run a business?
Some economists estimate that just these two plans alone could raise $1 trillion in revenues that no one would really miss. And yet people are calling him a communist and much worse for wanting to bring some money into the treasury department to pay for health care for everyone and free education for everyone.
That is what American socialism has been like for 100 years. Yes, we live in a socialist country. Did you not know that? Socialism is just about using available resources for the common good but democratic socialism doesn't propose that people be deprived of their lands and wealth. It just calls for raising taxes on the wealthiest people in a non-disruptive way.
If your heart is still breaking for the billionaires and technology companies I guess you are a true libertarian at heart. They are almost anarchists because they don't want any government. But most people do want a federal government. They just want one that treats everyone fairly, and right now the Republican Party is the party of treating people UNfairly.
I know Bernie Sanders has a hard job ahead of him because he'll have to convince Congress to work with him. But his proposals are so reasonable that the Republicans would look like obstinate fools if they refuse to pass these laws. People are waking up to the fact that the Republicans are a bunch of idiots. It's time we brought in someone else who actually has a real plan for making our lives better.