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Hillary vs Bernie

Started by Eddie Teach, January 31, 2016, 05:47:52 AM

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Say you're at the Iowa Democratic caucus- who do you vote for?

Sanders
31 (46.3%)
Clinton
25 (37.3%)
Littlefinger
5 (7.5%)
Sanders, but only to make it easier for GOP to win
2 (3%)
Clinton, but only to make it easier for GOP to win
0 (0%)
Write in for Biden :(
1 (1.5%)
Write in for Trump :wacko:
3 (4.5%)

Total Members Voted: 66

Norgy

How exactly would a global tax be distributed and who the hell would collect it, I wonder.

The Minsky Moment

Quote from: Norgy on March 17, 2016, 03:13:05 PM
How exactly would a global tax be distributed and who the hell would collect it, I wonder.

It would be administered at a national level.  Again, also in the original Tobin article.
The purpose of studying economics is not to acquire a set of ready-made answers to economic questions, but to learn how to avoid being deceived by economists.
--Joan Robinson

Norgy

Well, I read it, and I think I understood most of it, but have to mull over it to really have an opinion this way or the other.
I am not the cleverest chap here.

Capetan Mihali

Quote from: The Minsky Moment on March 17, 2016, 02:29:52 PM
Quote from: Admiral Yi on March 17, 2016, 01:46:42 PM
Quote from: The Minsky Moment on March 17, 2016, 10:47:28 AM
Except that hedge fund managers, however objectionable their mores may seem to you, are not really the public policy problem.

What is the public policy problem, and how do reinstituting Glass-Steagall and enacting a financial transaction tax solve this problem(s)?

The blahs were intended to connote my skepticism of the usefulness of those particular measures.

Any particular measures you're not skeptical of?  An honest question (it's sad we always have to say this). Because your "blahs" answer would did a good job of anticipating what I would've said.

Although my interest is more in financial regulation as one means of changing the way the national wealth is distributed, rather than in maintaining the integrity of American high finance system as an end in itself.
"The internet's completely over. [...] The internet's like MTV. At one time MTV was hip and suddenly it became outdated. Anyway, all these computers and digital gadgets are no good. They just fill your head with numbers and that can't be good for you."
-- Prince, 2010. (R.I.P.)

Admiral Yi

Quote from: Capetan Mihali on March 17, 2016, 06:18:48 PM
Although my interest is more in financial regulation as one means of changing the way the national wealth is distributed, rather than in maintaining the integrity of American high finance system as an end in itself.

Then why did you start this particular sequence of discussion by saying you objected to the revolving door between Wall Street and government? 

And why would you not favor a more direct approach to transferring wealth, such as a wealth tax?

Norgy

Property and wealth tax have worked quite well in Scanditopia.

The poor stay poor, though. How they can be drawn out of welfare and poverty, I don't know. We have a high mininum wage and free education.
I'm not advocating eugenics, but some families around here have been welfare recipients since the 50s and complain about immigrants taking the jobs they felt too proud to take anyway.

If there's anything I feel we should do, it's creating as an equal playing field as possible for our children and grandchildren. That would be be my political agenda. It's like believing in fairies.
The hows are more obscure.

Capetan Mihali

Because the revolving door is a big impediment to a more just wealth distribution because of the oversized role that the financial industry plays in the US economy.

I do favor more direct measures like a wealth tax primarily, not just regulating financial speculation to the extent necessary to avoid global economic meltdown.
"The internet's completely over. [...] The internet's like MTV. At one time MTV was hip and suddenly it became outdated. Anyway, all these computers and digital gadgets are no good. They just fill your head with numbers and that can't be good for you."
-- Prince, 2010. (R.I.P.)

Admiral Yi

Quote from: Capetan Mihali on March 17, 2016, 07:34:37 PM
Because the revolving door is a big impediment to a more just wealth distribution because of the oversized role that the financial industry plays in the US economy.

Which is again, at least one remove from the issue of people with finance experience working in government.

Capetan Mihali

Finance experience \= working at Goldman before and after your tenure in the Treasury.
"The internet's completely over. [...] The internet's like MTV. At one time MTV was hip and suddenly it became outdated. Anyway, all these computers and digital gadgets are no good. They just fill your head with numbers and that can't be good for you."
-- Prince, 2010. (R.I.P.)

Admiral Yi

I'm not familiar with that mathematical notation, having only had a week of formal logic slipped into a high school math class.

LaCroix

Quote from: Norgy on March 17, 2016, 07:32:30 PM
Property and wealth tax have worked quite well in Scanditopia.

The poor stay poor, though. How they can be drawn out of welfare and poverty, I don't know. We have a high mininum wage and free education.
I'm not advocating eugenics, but some families around here have been welfare recipients since the 50s and complain about immigrants taking the jobs they felt too proud to take anyway.

If there's anything I feel we should do, it's creating as an equal playing field as possible for our children and grandchildren. That would be be my political agenda. It's like believing in fairies.
The hows are more obscure.

I don't think it's plausible. we can provide tools to allow people to lift themselves from poor to middle class, but beyond that? a lot of people are simply unwilling to figure out how to do things for themselves, so they remain in a slump. some families rise to middle class after a generation or two, while others (malthus) fall to lower class

Capetan Mihali

Quote from: Admiral Yi on March 17, 2016, 10:19:45 PM
I'm not familiar with that mathematical notation, having only had a week of formal logic slipped into a high school math class.

I can't tell if you're being facetious or not, but honestly I can't remember the order of the characters either; it is the computer-language rendition of a barred equals sign, and it is used on Languish quite a bit to mean "does not equal."
"The internet's completely over. [...] The internet's like MTV. At one time MTV was hip and suddenly it became outdated. Anyway, all these computers and digital gadgets are no good. They just fill your head with numbers and that can't be good for you."
-- Prince, 2010. (R.I.P.)

CountDeMoney

Quote from: Capetan Mihali on March 17, 2016, 06:18:48 PM
Although my interest is more in financial regulation as one means of changing the way the national wealth is distributed, rather than in maintaining the integrity of American high finance system as an end in itself.

I paid off my Jeep, and my credit score dropped 24 points two months later. 

No, smarmy cockfuck douchebags on Wall Street trading imaginary dollars are only one piece of the problem. The whole system needs to be rebuilt, preferably from rubble, and that's Bigger Than Bernietm

The Minsky Moment

Quote from: Capetan Mihali on March 17, 2016, 06:18:48 PM
Any particular measures you're not skeptical of?

Capital regulation.

If a more radical approach would be desired then require all financial companies to operate through partnerships, as was traditionally done.  That would help tame excessive risk-taking.
The purpose of studying economics is not to acquire a set of ready-made answers to economic questions, but to learn how to avoid being deceived by economists.
--Joan Robinson

Capetan Mihali

Quote from: The Minsky Moment on March 17, 2016, 10:25:28 PM
Quote from: Capetan Mihali on March 17, 2016, 06:18:48 PM
Any particular measures you're not skeptical of?

Capital regulation.

If a more radical approach would be desired then require all financial companies to operate through partnerships, as was traditionally done.  That would help tame excessive risk-taking.

I'll read up. :)  But having to put putting the investors' personal assets on the line in a partnership would indeed tame excessive risk-taking, I'd tend to think.
"The internet's completely over. [...] The internet's like MTV. At one time MTV was hip and suddenly it became outdated. Anyway, all these computers and digital gadgets are no good. They just fill your head with numbers and that can't be good for you."
-- Prince, 2010. (R.I.P.)