"The fault with Mr. Obama’s (stimulus) plan is not that it contains too much government spending, but that there is not enough." -- Courier-Journal editorial
Thursday, October 6, 2011
Quote of the day: More stimulus money needed .... really?!
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There’s plenty of untapped revenue that can be used to create jobs. The $600 trillion-a-year OTC derivatives market. The $4 trillion-a-day foreign exchange derivatives market. The Swiss bank, UBS’ American operation makes $1 trillion-a-day in trades. Banks launder $1.5 trillion-a-year of drug cartel money.
Put a proportional rate toll that tops out at 5% on this money and that nets about $222 trillion to the treasury paid by the sellers. It’s another $222 trillion when bought. Together, that is $444 trillion to the treasury.
Obviously additional money is needed. We need our infrastructure upgraded and maintained; bridges built; Social Security, Medicare, Medicaid and the Affordable Care Act (Good Samaritan Care) needs to be fully funded. The result would be a single payer system that would cover all.
Yes, really, more money is needed to get to the equivalent of a full employment economy. It’s do-able with no additional taxes on income.
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