Thom Hartmann: Did we almost have a Stet Tax?

[thomhartmann]

Run time: 08:49 https://www.youtube.com/watch?v=z6UZBPtWNLI   Posted on YouTube: September 22, 2011 By YouTube Member: TheBigPictureRT Views on YouTube: 39   Posted on DU: September 22, 2011 By DU Member: thomhartmann Views on DU: 949

 
Sarah Anderson, Global Economy Project, Institute for Policy Studies joins Thom. Ron Suskind's book "Confidence Men" hit shelves yesterday - and the nation is catching wind of just how many of President Obama's progressive policies were sabotaged by his closest economic advisors. One of those policies was a financial transaction tax. According to Suskind's book - President Obama wanted to push for a new financial transaction tax - basically a small tax on every stock or derivative - or whatever financial thingamabob - is traded. Not only would a financial transaction tax - or FTT - curb excessive speculation in the markets - and discourage robots from making millions of trades a day as they do now - but it would also raise some much needed revenue for the government which was dealing with a deficit problem. But one of the President's top economic advisors - Lawrence Summers - nixed the idea entirely. In fact - Lawrence Summers' name comes up repeatedly in Suskind's book - as a person who was not only disrespectful to the President - but also kneecapped most of what the President wanted to do in those first few months in office as the White House tried to deal with a crisis on Wall Street.

The Big Picture with Thom Hartmann on RT TV & FSTV "live" 9pm and 11pm check www.thomhartmann.com/tv for local listings

[Ruby the Liberal]

1. A transaction tax would fix a mountain of problems.

As much as people say this book is anti-Obama, from what I have heard, it is all about calling out the assholes Obama picked to "fix" things (Summer, Geithner). My first feeling of potential regret of change came less than a week after November 4, 2008 when the assholes who broke the system were tapped to run it.

It also purports to show Obama as MUCH more progressive than we are seeing.

Ordered the book this week and am looking forward to reading it. I have a feeling my week-after-Nov4th (and ongoing) feelings are about to be confirmed in spades.

[Jimalene]

2. I just have trouble believeing

Obama is this dumb not to know what was going on.