Has anyone actually bothered to look into what this psychopath is proposing?
This is what he has ON HIS OWN CAMPAIGN SITE in terms of the impact of his taxes. These taxes would apply to every single trade. You know what that's going to impact the most? Mutual funds. Guess what most people's 401k funds are comprised of?
Bernie is literally robbing America of its savings to pay for free college.
Article in question:
http://www.peri.umass.edu/fileadmin/pdf/ftt/Pollin--Heintz--Memo_on_FTT_Rates_and_Revenue_Potential_w_references----6-9-12.pdf
Bernie linking to said article from his site:
https://berniesanders.com/issues/how-bernie-pays-for-his-proposals/
There is literally nothing wrong with being Jewish.
>Mutual funds
Screw that. My grandpappy set up a mutual fund for me when I was born and I was able to pay for one year of tuition for community college.
>>70999560
hold up this chick is jewish?
>>70999922
COINCIDENCE?
>>70998272
What the fuck is 352 Billion going to pay for?
>>70998272
I don't see the problem here. You know how few of the proletariat are even involved in the market at all? Volume decrease disproportionately hurts the rich, which I'm all for. Go home cuck.
>>71000078
college apparently
>>71000078
tuition you dumb fuck
>>71000080
50% of Americans have a market position
>>71000141
I think it will cost more than that to send everyone to college.
>>70998272
Might not be a great idea but finances are cancer so whatever.
Also mutual funds are pretty much a scam.
Wouldn't mind free college if it went towards medical school instead if gender studies.
>>71000080
My grandpappy did it while being working class. He grew up in poverty and worked his way up. He wasn't able to send his own children to college but the money he saved from his own mutual funds and stocks after retirement he passed it on to me. True stable and long lasting prosperity takes generations. My grandpappy died before he saw me graduate high school yet he always knew that one day I would. That didn't deter him from working hard to send me to higher education despite not being able to see his results or benefit from it.
>>70998272
Isn't trading stocks a sort of barter system? You don't need to pay taxes on bartering right?
I imagine that's how people will trade stocks if he wins. I'll give you a google stock for a couple hundred of those 4chan stocks, they're fresh right?
You just don't GET it. He's helping the little people, not YOU.
college is literally useless for most attendees. why would we pay for this? or, rather, subsidize it, so its costs can rise even higher.
>>70998272
That's intentional. Look up Lenin The Worse The Better. Crash the system so that you can then be the savior.
>>71000438
It's a transaction cost. You pay a fee to a broker to execute your trade. This would make said broker collect a tax as well. It would function just like a sales tax.
>>71000080
Holy shit you're retarded. What do you those rich people are investing their money in? They're investing in small but public businesses to help fund the company. Without investors the US would be a third world shithole.
Financially illiterate person here - what are basis points?
>>71000565
100 basis points = 1%
>>71000365
I wouldn't mind public funding of college if, and only if, only the best and brightest students were eligible for public funding, along with, as you metioned, for practical, economically sound majors. I understand the argument for public funded tuitition but I don't trust how it will be implemented under the progressive Democrats.
>>70998272
its not free you dumb shit. if you pay taxes you pay for the college. Then you get a job with that education and pay more taxes then you would have had you not gotten that education. And if your thinking it goes to dumb niggers well dumb niggers arnt accepted to college.
The future is automation. As soon as you give tax breaks to those people they are going to automate there business,let go of their work force, and pocket the rest. Stop voting against your self interest
>>71000532
lol u fuckin dip shit Reagancuck
>>70999922
No way, she's a turkroach.
>>71000565
1/100th of 1%. So 50 basis points is equivalent to 0.5%
>>71000610
Thank you
>>71000323
Anything is a "scam" if you don't know what you're doing. I've personally profited thousands from investing in mutual funds, among other things.
>>70998272
England and Sweden got 10% and 3% of the projected revenue from their fft taxes.
Naturally, taxes were raised elsewhere.
Turns out corporations that make money by taking other people's money and investing it have lawyers that can jew you out of your silly tax schemes.
>>71000703
not to mention his proposed tax scheme makes derivatives MORE attractive compared to a regular stock purchase. That's probably not a good idea
>>71000651
>Raegan
>Cuck
Pick one, faggot
>>70998272
No shit, anyone who's been paying attention knows that Bernie would destroy the middle class because he has a pathological hatred for successful people.
>>71000513
And high frequency trading has drastically reduced the cost of brokerage fees.
Good, fuck the boomers. I don't even have a 401k, why should I care?
>>71000703
And that caused Swedish traders to move to London's exchange. It backfired on Sweden because they started earning less from those taxes after most of the trading was done by Swedes in London's exchange done through foreign proxies. They pay no taxes that way
>>71000305
I know nothing about the matter but it would seem you'd be right.
You also can't account for the people that will go to college because it's free and not because they want to. There will be a lot more people going to college if it's free.
>>70998272
Fuckin socialists man
>>71000305
20.4 million people going to college in the US, I'm spending around 4k a semester on tuition, so 20.4 million *4,000 = 81.6 billion dollars. That's about two years of college for every college student in America.
Of course this is just retard math and there are plenty of other factors such as that's probably the cheapest state school you can go to, and I don't dorm/eat there, plus many other schools cost more. But if people took classes online and shit I think it'd be feasible.
That doesn't mean I agree with his plan (because it would probably lead to cutting corners all over the place), but if they could get that kind of money from taxation IT COULD work.
>>70998272
>0.5 basis on derivatives
>50 basis points on tax
this makes no fucking sense
all this does is make it so less people invest in the stock market, only rich people will be in the market and will more easily manipulate the market with less "free radicals" clogging up possible deals.
Holy fuck this is so fucking jewish.
>>71000421
damn that's k selection at its finest. your grandpa had insane low time preference.
>>70998272
Yeah, I've been saying this shit for months and nobody cares because somehow they think it wont be raping the middle class.
They're just like
>> muh 1%
>> taking back muh money from capitalist pigs
No, you fucktards, it's taking away your inheritance and your fucking retirement, literally the only surefire way to transcend social classes.
>>71000920
Stop calling socialism in everything, i dont support bernie but you gotta be stupid to think any of them supports socialism.
>>71000884
Going to college does not guarantee that you'll earn any more money than a high school graduate
If you make college the new baseline of the working force, then there will be little incentive for employers to pay higher wages for college-educated workers since they are now a dime a dozen (we're approaching that point already with the current system). Not only that, but if the program allows more liberal arts majors than ever before while people who pursue degrees in STEM and other high-demand fields continue to stagnate, then the vast majority of college grads will be no better off than high school grads of today. College education is becoming overrated right now because there are too many people graduating with useless, easy-to-earn majors and not enough are graduating with degrees that are in high demand.
Fuck free college, most Americans should be going to trade school to learn valuable and productive skills. Believe it or not, but the average plumber these days earns more than an English major five years out of college, mainly because they don't have to pay back loans for college tuition, but also because there is a constant need for plumbers in any market.
>>71001150
I hear the average IQ in Brazil is 80. Is your IQ 80? How do you favela monkeys breathe?
>>71000884
It costs between 10 and 30k, on average of 20k per student for tuition each year.
There are 20 million college students as of 2016
That's approximately 400 billion per year at current rates of enrollment.
As for speculation, the rates of enrollment are going to go up as will the cost of education like everything else the govt subsidizes.
>>71001435
Lol what? I would definitely say 90% of college students are not paying 10k per year to go to college. Let alone 20k.
>>71001369
Aint easy waking up everyday and dodgin bullets from morning to night
Also governament pays us to breathe
>>71000078
>>71000130
>>71000141
FEMA internment camps where they will attempt to imprison freethinking citizens
>>71001744
Only if they go to devry like u.
>>71001744
It almost costs that much to go to community college here, full time tuition is 1800-2000 per quarter and it's overcrowded, all the popular programs have a wait list of 12-18 months. UW is 12k per year in tuition alone, so is WSU. Gonzaga is 18k plus fees and bullshit.
Shit, my ex was paying like 25k in just tuition to go to a university of california school as a state resident.
That's not even counting shit like housing, which people will demand be paid for.
If you think they're somehow going to get 20 million people to go to podunk community colleges and into programs they're above instead of getting useless fucking degrees in gender studies you're a moron lol
Income tax changes relevant here.
>>71000639
>dumb niggers arnt accepted to college
lolwut
>>70998272
WHAT FUCKING SAVINGS YOU GODDAMN FINANCIALLY ILLITERATE MORON
The reason no one has SAVINGS is because the interest rates offered by banks and the federal reserve are artificially low. This has prompted people to see the fucking stock market casino as a "retirement investment" that will earn them 7% returns for the rest of their lives.
FAT CHANCE. The stockbrokers are going to smile and take your money, the market tanks, and your "retirement investment" is going to disappear just like it did in 2008.
>>71002741
You might actually be retarded.
>>70998272
>implying taxation of anything other than land can be effectively enforced
All that would result in is a huge flight of capital to more exotic investments, starting with derivatives, and continuing to things outside the reach of Big Ol' Uncle Samulot.
>>70998272
Mutual funds and shitty private retirement accounts are swapping shitty overvalued mortgages or shares in Jewcme Inc? Who gives a shit. Why is a mutual fund buying its own shares or selling and buying new ones? A fund is a fund. A new mutual, once it opens, maybe there are small fees. Say a fund has 1000 stocks. The rate is what, a couple bucks to buy each one? Over the life of a fund, if you have that kind of money to piss away anyways then just buy them yourself and fuck the bank even more
What kind of retirement account is selling and buying all the time? That would only cost pennies per transaction. It shouldn't be all share buybacks anyways
>>70998272
People were already robbed of their saving when they quit getting pensions and started being expected to make their own investments in stock and iras.
>>70998272
Explain to me how mutual funds are affected by trading.
>>71003971
most funds are contractually bound to stick within certain beta ranges. As stocks rise and fall they have to re-balance their portfoilo to get an accetable beta. This happens on a regular basis.
>>71004163
What do you think a mutual fund is?
Hint: it's a portfolio of stocks and you're buying a share of the portfolio
>>71001150
>>71000795
>Debt is better
>these successful beoble caused all this shite
>>71004205
So your retirement fund is tried to the stock market? That's fucking retarded considering how volatile it can get.
>>71004187
Fuck em. It's all a ponzi scheme. If i invest on the fucking internet, i still pay commission or brokerage fee. Can we not just buy our own funds? Retirement funds, the various Heebs can pay for it
>>70998272
the best part is the very next point in his plan is "reduce volatility"
jejs increase spreads = reduced volatility
its like he mashed together a bunch of buzzwords and expected retards to fall for it
it worked perfectly
>>71000438
I hate to burst your bubble.
https://www.irs.gov/taxtopics/tc420.html
>>71004301
What spreads. Universal fees? It only undercuts the twitterbot algorithms and skynet cloud technologies and etc etc
>>71004366
You show him
>>71004383
spreads will widen if there is a 50bps tax on all trades
>>71004283
Assuming you're not a complete retard and 1.) diversify your initial holdings amongst the market and b.) shift your assets into safer investments (bonds) as you get closer to retirement it works out pretty well unless you get exceptionally unlucky from a timing standpoint.
Pensions are no different - the pension fund is typically tied to investments made by the company that holds the pension liability and if those investments go belly up the pension is fucked
>>71004383
Considering Bernie is claiming his tax will decrease trading volume by 50%, spreads are going to increase pretty much by definition
>>71004299
Also
>signing under beta restrictions
Yes goy. We need to keep cycling our waste products so you can reset your expectations for returns
>>71004283
That's why people "diversify their portfolio" to include different types of investments.
In reality there is no way to escape your retirement being tied to the stock market and the dollar. Even if you buy tangible, physical goods they're still being priced with and traded for in dollars. Homes, precious materials, stocks, bonds, CD's, whatever.
>>71004483
So would someone's mutual fund be constantly traded around the market or are they just put in specific places in an attempt to gain value and only moved in case the area is starting to lose value?
>>71004541
We're approaching 20K DOW. This cutting in half is all circle jerking and the economy needs it before people go calling on empty satchels
>>71004619
I don't think you understand what most mutual funds are.
When you buy a share of a mutual fund that share is yours and unless you sell it it stays with you. What you're buying a share of is a portfolio of stocks (and/or bonds/other investments). That portfolio is in constant flux as the fund managers try to keep the portfolio in line with what the fund is supposed to represent.
It would be like if you and your friends all pooled money to buy season tickets and appointed one of your friends to sell some of the tickets to try and get you Y dollars by the end of the season.
>>70998272
>>71004801
Wouldn't that include a particular amount of risk if your fund manager is incompetent?
>>71004953
of course it would
>>71004978
Why would people use a mutual fund then? Because of the allure of having the money you invest giving you a greater return in the end rather than just straight interest you'd get if you put your retirement funds in a bank account. (Of course that's not 100% safe if the bank goes under.)
>>71004207
Never worked a day in his life.
Oh well, that explains a lot.
>>71005069
Because banks offer a return of less than inflation YoY. The system is rigged.
>>70998272
>>70980055
WE SHOULD DO EVERYTHING IN OUR POWER TO KEEP THE GUNS OUT OF THE HANDS OF PEOPLE THAT DON'T HAVE THEM SO WE CAN CONTINUE DOMINATING THEM - bernie sanders 2016
>>71005160
So you either play it safe and but earn much less money in the long run. Or put it into the stock market and basically make a roll of the dice.
>>71005241
You could play it even safer and invest in bonds, but corporations have a nasty habit of regularly going into Chapter 11, wiping out their obligations and laughing at your attempts to be made whole.
>>71005368
Then that's not safe, that's the worst of the 3.
>>71005542
Basically you buy gold and government bonds and start small businesses and maybe what we call "guaranteed investment certificates" and put retirement in there. Or try to buy all your own packages of investments
>>71005368
Bonds are generally government or syndicate issued, though.
>>71006098
Or I would short things. That is fun. It's easier to pick losers because there are so many. Then you can badmouth them everywhere (if that isn't illegal)
>taxing stock transactions
Well, bye bye economy.
>>70998272
Lol at attacking derivatives. High frequency traders add much needed liquidity to the market, particularly in derivatives. If he does this, trade volume will fall and it will of all things, hurt *farmers* the most.
>>70999922
>chick
>>71002741
The crash in 08 was the greatest investment opportunity in literal decades.
I just grabbed a random index fund and checked- it shot from ~$27 to ~$118. If you weren't moronic about companies almost every single one was insanely undervalued because of mass panic. And if you were anywhere near retirement age and got fucked because of stocks then you or your financial advisor deserved it.
But hey, keep your cash in savings or under the mattress where it'll get outpaced by inflation. Have fun in retirement.
>>70998272
What about nanotrading. A per trade tax would basically eliminate computer algo trading, the same thing which sucks billions out of the market every year. Only a good thing.
>>70998272
what does this mean and why should i care?
what is
>401k funds
and how does that translate to
>robbing America of its savings
?
>>71008217
>average liberal
That's literally the reason he can write this shit, make it public knowledge, and not a single person can bat a fucking eye
I always assumed it was a joke that all Americans are stupid, but I guess meme magic made this real as well
Those HVAC courses (like the PhD in air conditioner repair that young Mike Brown was about to take) won't pay for themselves
Check your privilege
>>71008514
they dont teach us this shit in school where else do u learn it
>>71008514
>not a single person can bat a fucking eye
also what does u mean by this burgerbro?
>>71009242
getting fucked the hard way then complaining about it the rest of your life.
>>71007621
>tfw dumbass unemployed degenerate highschooler at the time
>tfw took economy class and was told to invest a fictional $7,000 into whatever stocks i want
>put it all in alcohol and and came out with a fictional $20,000 in a few weeks
WHY COULDNT I HAVE BEEN BORN 5 YEARS EARLIER
>>71000703
source me please babe
>>71000223
would that mean that 50% of americans would face a significant reduction in 'profits'? how do you know that it's 50%?
>>71001150
He is US version of Lula, anon.
>>71008217
>In the United States, a 401(k) plan is the tax-qualified, defined-contribution pension account defined in subsection 401(k) of the Internal Revenue Code.[1] Under the plan, retirement savings contributions are provided (and sometimes proportionately matched) by an employer, deducted from the employee's paycheck before taxation (therefore tax-deferred until withdrawn after retirement or as otherwise permitted by applicable law), and limited to a maximum pre-tax annual contribution of $18,000 (as of 2015).[2][3]
This shit again. Trade volume will decrease by over 98% because most of it is done through algos which will simply move to other countries and other markets.
The decrease in liquidity will crash stock prices with no survivors and a well functioning market will be ruined.
Sweden tried this, go ahead and see what happened there, its public record. Imagine what will happen to the US if the financial sector decides to fuck off to London.
>>71011340
>Brexit
>London has uncertain financial future as leading Yuro finance capital
>Sanders wins
>imposes these taxes
>private sector dosh floods into London
>new Pax Brittanica
almost like it was planned all along by eternal Anglos............
>Sweden, YES
>The Swedish financial transaction tax was a 0.5% financial transaction tax (FTT) applied to equity securities, fixed income securities and financial derivatives between 1984 and 1991.
>The tax applied to all equity security trades in Sweden using local brokerage services as well as to stock options. In July 1986, the rate was doubled, and in January 1989, a considerably lower tax of 0.002% on fixed-income securities was introduced for a security with a maturity of 90 days or less. On a bond with a maturity of five years or more, the tax was 0.003%. 15 months later, on 15 April 1990, the tax on fixed-income securities was abolished. In January 1991 the rates on the remaining taxes were cut by half and by the end of the year, they were also abolished completely.
>On the day that the tax was announced, share prices fell by 2.2%. But there was leakage of information prior to the announcement, which might explain the 5.35% price decline in the 30 days prior to the announcement. When the tax was doubled, prices again fell by another 1%. These declines were in line with the capitalized value of future tax payments resulting from expected trades.
>During the first week of the tax, the volume of bond trading fell by 85%, even though the tax rate on five-year bonds was only 0.003%. The volume of futures trading fell by 98% and the options trading market disappeared.[1] 60% of the trading volume of the eleven most actively traded Swedish share classes moved to the UK after the announcement in 1986 that the tax rate would double. 30% of all Swedish equity trading moved offshore. By 1990, more than 50% of all Swedish trading had moved to London. Foreign investors reacted to the tax by moving their trading offshore while domestic investors reacted by reducing the number of their equity trades.
>As a result, revenues from these taxes were disappointing. For example, revenues from the tax on fixed-income securities were initially expected to amount to 1,500 million Swedish kronor per year. They did not amount to more than 80 million Swedish kronor in any year and the average was closer to 50 million.[3] In addition, as taxable trading volumes fell, so did revenues from capital gains taxes, entirely offsetting revenues from the equity transactions tax that had grown to 4,000 million Swedish kronor by 1988.
This was in Sweden, a cuck country with a relatively small financial sector.
>>71011555
tfw Bernie gets elected and the VVD then makes our country an even better tax haven
Bernie is just a Dutch plant for our new golden age.
>>70998272
Bernie will destroy the lives of so many middle Americans.
College isnt gonna mean anything if its given out like candy you stupid fuck bernie!!!!
College already means nothing!!!!
You're just gonna make it mean even more nothing by making it free !!!!!!!!!!!
Not to mention you're taking a shit over the millions of kids in the past 5 years that went to college and are now 60 K in debt, watching these ingrate kids getting a paid vacation out of mommy and daddy's house to damage their brain cells
YOU MAKE ME SICK BERNIE
YOU DIRTY FUCKING COMMIE
>>71011638
>VVD doing anything ever again
15 zetels max deze aankomende verkiezingen. Ondernemingsklubjes pullen binnenkort support en funding.
>>71000080
>implying only rich people have 401k and retirement plans
You're delusional.
>>71011678
>Math and Reading are useless if everyone knows how to do it.
>>71001341
THANK UUUUUUUUUUUUU!!!
GIVIN COLLEGE OUT LIKE CANDY YEH FUCKIN RIGHT
THIS AINT HOLLOWEEN
HAVE FUN GETTING 15 BUCKS AN HOUR FOR UR FUCKING COLLEGE DEGREE
LEVEL OUT THE PLAYING FIELD
MYY AAAAAAAAAAAASSSSSSSSS
ILL KILLM YSEL IF I HAVE TO SHRED OUT 3 G'S A YEAR FOR INGRATE RETARDS AND PAID SAFE SPACES!!!
>>71000639
Why would tax rates affect mechanization vs labor costs? Wage rates and technology costs are really the only possible factors, and iirc, only dems are looking to make that worse.
And muh mechanization has been around since the industrial revolution dumbass, hold your breath for me
>>71011789
HOw the fuck is college going to teach people 'math and reading'
that's shit you're sposed to learn in 2nd grade!!!
They can't even teach us that in 2nd grade what makes u think they can make retard kids learn how to read in paid drug vacations to distant cities??
LEVEL OUT THE PLAYING FEILD WHY DONTCHA
EMBRACE MEDIOCRITY GO HEAD
HAVE FUN BATTLING FOR $15 AN HOUR AGAINST THE COLLEGE EDUCATED ROBOTS BATTLING FOR ROBOTS RIGHTS SAFE SPACES YOU FUCK
>>71000942
Assuming college rates decide to suddenly switch course completely and stop rising 2:1 in proportion to the amount subsidized. Don't have source but it is documented, and about the same rate as every subsidized product in the US.
>>71011983
You seem to be implying that you are stupider than a 2nd grader and you don't know any math beyond basic addition and you don't understand how testing works.
>>70998272
>bernie to market makers
>fuck you faggots, I don't care if it makes your strategy obsolete
If he actually gets elected you can kiss liquidity goodbye
>>71012187
It still isn't going to mean anything in this corrupt rigged system you idiot. Teach them all the math you can, no one's going to learn unless they want to, and giving out college for free isn't going to make kids want to learn, it's just going to give them an excuse to party and drink and run up daddy's credit cards.
Are you seriously implying that giving out degrees like frivolous candy is going to make employers suddenly want to give everyone jobs? Oh boy, they know how to read and math! They shall be suitable for the wage slave job that has nothing to do with it. Oy boy!
Yes, there are good math jobs out there, but the only people that are going to fill them are people with passion, that love math, that breathe math - not a bunch of mediocre common denominators that are signing up for college just because it is free.
The playing field will be leveled. Those that actually do study will be considered just as mediocre as the ones that go just to party.
>>71011884
$3k a year? Shit son, CC locally is $10k annually
>>71012423
Rich kids don't need reasons to do that at least they are spreading it around campus and learning something this way if they expect to stay for more than a semester.
It will help people create their own jobs and secure their own income.
You don't seem to understand statistics or testing at all, probably because college is too corrupt, right.
>>71000453
0% taxes would be the dream, why does the government even exist at all, right? Any politician who says they'll reduce taxes gets my vote immediately
Why does education have to happen in a building, doubling as a daycare, ~20 students at a time, with teachers showing up just to repeat the same shit over and over? Even the poorest families have a computer, smartphones and internet now.
Set up a free website with all the lectures on video, all the materials, some testing centers with ironclad standards and that's it. Everything's there as long as parents motivate their kids and a consumer market for private tutoring would fill in any gaps.
>but wha if parents don't motivate their kids
Then they're just as fucked as under the current system, but at least they won't waste their time and ruin the learning environment of others.
>>71001150
bernie has called himself a democratic socialist, u fucking ignorant degenerate
>>71001744
It's about 5k per semester for public college, so 10k per year.
