Follow us: Follow us on Facebook Follow us on Twitter Follow us on Google+ Follow us on Linkedin Follow us on Tumblr Subscribe to our RSS or Atom feed
Tuesday, March 31, 2015
Southern Weather Radar


Our Writers

  • Adam Peck
  • Alan Gordon
  • Alex Kearns
  • Alex Seitz-Wald
  • Alice Murray
  • Allison Korn
  • Alyssa Cagle
  • Amanda Marcotte
  • Amanda Peterson Beadle
  • Andrea Grimes
  • Andrea Lee Meyer
  • Andrew Bowen
  • Andy Brack
  • Andy Kopsa
  • Andy Miller
  • Andy Schmookler
  • Ann Marie Pace
  • Ann Woolner & Leonard Ray Teel
  • Anna Dolianitis
  • Anna Forbes and Kate Ryan
  • Annelise Thim
  • Anoni Muss
  • April Adams
  • April Moore
  • Ariel Harris
  • Armando
  • Arthur Blaustein
  • Austen Risolvato
  • Austin McMurria
  • Barry Hollander
  • Bert Roughton III
  • Beth Ostlund
  • Betsey Dahlberg
  • Bill Hamm
  • Bill Mankin
  • Bill Montgomery
  • Bill Moyers & Michael Winship
  • Bill Phillips
  • Bill Semple
  • Bill Tush
  • Billy Howard
  • Bob Bohanan
  • Bob Pritchard
  • Booth Malone
  • Bootsie Lucas
  • Boyd Lewis
  • Brad Clayton
  • Braden Goyette For ProPublica
  • Brett Martin
  • Brian Randall
  • Brianna Peterson
  • Bruce Dixon
  • Bruce E. Levine
  • Burton Cox
  • Candice Dyer
  • Carl Kline
  • Carol Carter
  • Casey Hayden
  • Cathleen Hulbert
  • Center for American Progress
  • Chantille Cook
  • Charles Finn
  • Charles O. Hendrix Jr.
  • Charles Seabrook
  • Charles Walston
  • Chelsea Toledo
  • Chelsey Willis
  • Chris Bowers
  • Chris Kromm
  • Chris Wohlwend
  • Christopher Burdette
  • Chrys B. Graham
  • Chuck Collins
  • Cliff Green
  • Cody Maxwell
  • Collin Kelley
  • Craig Miller
  • Crissinda Ponder
  • Dallas Lee
  • Dan Kennedy
  • Daniel Flynn
  • Daniel K. Williams
  • Daniel Palmer
  • Danny Fulks
  • Dante Atkins
  • Darby Britto
  • Dave Cooley
  • Dave Johnson
  • Dave Pruett
  • David Bradford
  • David Evans
  • David Harris-Gershon
  • David Jenks
  • David Kyler
  • David Rotenstein
  • David Swanson
  • Dean Baker
  • Deb Barshafsky
  • Debbie Houston
  • Deborah Chasteen
  • Denise Oliver Velez
  • Dennis McCarthy
  • Desiree Evans
  • Dian Cai
  • Diana
  • Dina Rasor
  • Dindy Yokel
  • Doc
  • Don Lively
  • Don O'Briant
  • Door Guy
  • Doug Couch
  • Doug Cumming
  • Dr. Brian Moench
  • Dr. Nick De Bonis
  • E. David Ferriman
  • Earl Fisher
  • Eden Landow
  • Eileen Dight
  • Eleanor Ringel Cater
  • Elizabeth Shugg
  • Ellen Brown
  • Elliott Brack
  • Erin Kotecki Vest
  • Fatima Najiy
  • FishOutofWater
  • Francisco Silva
  • Frank Povah
  • Fred Brown
  • Frederick Palmer
  • Gadi Dechter, Michael Ettlinger
  • Gail Kiracofe
  • Gaius
  • Georgia Logothetis
  • Gib Ennis
  • Gina Williams
  • Gita M. Smith
  • Glenn Overman
  • Gordon Anderson
  • Gregory C. Dixon
  • Gryphon Corpus
  • Hamp Skelton
  • Harriet Barr
  • Heather Boushey
  • Henry Dreyer
  • Hollis B. Ball III
  • Hugh
  • Hyde Post
  • Ian Kim
  • Ian Millhiser
  • Isabel Owen
  • Ivy Brashear
  • J.A. Myerson
  • Jack deJarnette
  • Jack Wilkinson
  • Jacklyn C. Citero
  • Jake Olzen
  • James Hataway
  • James Marc Leas
  • James N. Maples
  • Janet Ward
  • Jasmine Burnett
  • Jason Palmer
  • Jason Parker
  • Jay Thompson
  • Jeff Cochran
  • Jeff Davis
  • Jeff Rayno
  • Jeff Spross
  • Jennifer Hill
  • Jesse Harwell
  • Jessica Luton
  • Jim Bentley and Jeff Nesmith
  • Jim Clark
  • Jim Cobb
  • Jim Fitzgerald
  • Jim Newell
  • Jim Stovall
  • Jim Walls
  • Jim Warren
  • Jimmy Booth
  • Jing Luo
  • Jingle Davis
  • Joan Donovan
  • Jodi Jacobson
  • Jody Wegmueller
  • Joe Earle
  • Joe Shifalo
  • Joel Groover
  • Joey Ledford
  • John A. Tures
  • John Dembowski
  • John Hickman
  • John M. Williams
  • John Manasso
  • John Sugg
  • John Tabellione
  • John Yow
  • Jon Sinton
  • Jonathan Grant
  • Jonathan Odell
  • Joni Hunnicutt
  • Jonna Pattillo
  • Joseph B. Atkins
  • Joseph Gatins
  • Josh Dorner
  • Josh Sewell
  • Joy Moses
  • Judith Stough
  • Judy McCarthy
  • Juli Ward
  • Julian Bond
  • Julianne Wyrick
  • Julie Ajinkya
  • Julie Puckett Fodera
  • Just Plain Will
  • Kaili Joy Gray
  • Kate Greer
  • Kate McNally
  • Kathleen Brewin Lewis
  • Kathleen Harbin
  • Kathleen R. Gegan
  • Kathryn Hoffman
  • KC Wildmoon
  • Keith Graham
  • Ken Edelstein
  • Ken Haldin
  • Ken Peacock
  • Kevin Austin
  • Kevin Duffy
  • Kip Burke
  • Kirk McAlpin
  • Kirsten Barr
  • Kos Moulitsas
  • Kristie Macrakis
  • Lacey Avery
  • Lamont Cranston
  • Laura Clawson
  • Laura Smith
  • Laurence Lewis
  • Lawrence S. Wittner
  • Lee Leslie
  • Lee Robin
  • Leonce Gaiter
  • Les Eatwell
  • LikeTheDew
  • Linda Hunt Beckman
  • Linda Jordan Tucker
  • Lisa Byerley Gary
  • Lisa Kerr
  • Lois Beckett, Propublica
  • Lorraine Berry
  • Louie Clay
  • Louis Mayeux
  • Lovell Jones, Ph.D.
  • Lucy Emerson Sullivan
  • Lucy Guest
  • Maggie Lee
  • Maisha White
  • Mandy Richburg Rivers
  • Margi Ness
  • Marian Wang, ProPublica
  • Marie Diamond
  • Mark Dohle
  • Mark Johnson
  • Mark Sumner
  • Martha W. Fagan
  • Mary Civille
  • Mary Elizabeth King
  • Mary Kay Andrews
  • Mary Lee
  • Mary Willis Cantrell
  • Matt Johnson
  • Matt Musick
  • Matt Renner
  • Matthew Wright
  • Maurice Carter
  • Meg Livergood Gerrish
  • Meghan Miller
  • Melanie Rochat
  • Melinda Ennis
  • Michael Beckel
  • Michael Castengera
  • Michael Ettlinger
  • Michael J. Solender
  • Michael Linden
  • Michael Lux
  • Michael W. Twitty
  • Mike Copeland
  • Mike Cox
  • Mike Handley
  • Mike Lofgren
  • Mike Ludwig
  • Mike Williams
  • Mike ”Hunter” Lazzaro
  • Mimi Skelton
  • Moni Basu
  • Monica Smith
  • Murray Browne
  • Myra Blackmon
  • Nancy Melton
  • Nancy Puckett
  • Nancy Robinson
  • Nancy Rogers
  • Neill Herring
  • Nelly McDaid
  • Nikki Gardner
  • Niles Reddick
  • Noel Holston
  • Occupy Wall Street
  • Overman & Senn
  • Pamela Sumners
  • Pat Garofalo
  • Pat LaMarche
  • Patrick L. Ledford
  • Patsy Dickey
  • Patti Ghezzi
  • Paul Krupin
  • Paul Rutledge
  • Paul Thim
  • Pete & Jack
  • Peter Crawford
  • Peter Turnbull
  • Phil Gast
  • Phil Noble
  • Philip Graitcer
  • Phyllis Alesia Perry
  • Phyllis Gilbert
  • Piney Woods Pete
  • R. P. Singletary
  • R.L. Miller
  • Rafael Alvarez
  • Randy Conway
  • Randy Schiltz
  • Ray Bearfield
  • Raymond L. Atkins
  • Reagan Walker
  • Rebecca Sive
  • Richard Eisel
  • Righton C. Willis
  • Rob Chambers
  • Rob Coppock
  • Rob Douthit
  • Robert Dardenne
  • Robert Jensen
  • Robert Lamb
  • Robert M. Williams, Jr.
  • Robert Mashburn
  • Robert Weiner & Richard Mann
  • Robin Marty
  • Rodney Adams
  • Roger Gregory
  • Ron Feinberg
  • Ron Taylor
  • Rose Aguilar
  • Rose Weaver
  • Rosemary Griggs
  • Russ Wellen
  • Sam Morton
  • Sao Magnifico
  • Sara Amis
  • Sarah Ayres
  • Sarah Bufkin
  • Saralyn Chesnut
  • Scott Anna
  • Scott Borchert
  • Scott Keyes
  • Scott Wooledge
  • Seth Cline
  • Shane Gilreath
  • Sharon M. Riley
  • Shay Dawkins
  • Sheffield Hale
  • Sheila Barnard Nungesser
  • Sigrid Sanders
  • SoniaTai
  • Sonya Collins
  • Soraya Chemaly
  • Spencer Lawton
  • Stephanie Taylor
  • Stephen Lacey
  • Steve King
  • Steve Krodman
  • Steve Valk
  • Stuart Liss
  • Sue Sturgis
  • Sujigu
  • Susan De Bonis
  • Susan Soper
  • Susan Wilson
  • Suz Korbel
  • Tammy Andrews
  • Tammy Ingram
  • Tanya Somanader
  • Ted Kooser
  • Terri Evans
  • The Barnacle Goose
  • Thomas A. Bledsoe
  • Tiger Liliuokalani
  • Tim Oliver
  • Timothy Freeman
  • Timothy Hurst
  • Tom Baxter
  • Tom Crawford
  • Tom Ferguson
  • Tom Millsop
  • Tom Poland
  • Tom Walker
  • Travis Waldron
  • Travis Waldron & Pat Garofalo
  • Trevor Stone Irvin
  • Tricia Collins
  • Troubadour
  • Valerie Evans
  • Viveca Novak
  • Waldron, Somanader & Garofalo
  • Walter Rhett
  • Wanda Argersinger
  • Wayne Countryman
  • Wayne Johnson
  • We The People
  • Will Cantrell
  • Will Nelson
  • William Cotter
  • William Hedgepeth
  • Yana Kunichoff
  • Yasmin Vafa
  • Zack Beauchamp
  • Zack Ford
  • Zaid Jilani
  • Zaina Budayr




  • Writer Login


    Like the Dew?

    We are non-commercial, all volunteer and supported by our readers. Please help sustain the Dew by making a donation.

    Too Sensible

    National stock transfer tax would raise billions to offset deficits

    by | Mar 1, 2013

    Ever since mankind organized himself into governments, there’s been a need to pay for the services that governments provide. How to tax and what to tax has been, and will continue to be, a main topic of conversation.

    stock transfer taxYou may remember prior to when our government was being formed, there was a revolt against the “tea tax” that the British government sought to enforce. Yes, it was “Indians” who started that rebellion in the Boston Harbor.

    An early incident in this country centered around imposing the federal excise tax on whiskey.

    Here in Georgia, recently the Legislature imposed a “bed tax” on hospitals.

    Finding ways to tax is always on the table, and always a risky business for the politicians. Therefore, we often get bad taxing methods. Lots of commerce goes untaxed, often with key lobbyists flexing their muscles. It gets you to thinking about the fairness of it all.

    Now comes an idea to tax an industry that is not taxed, a system which could raise a lot of money, and yet it would be a tax many people would never feel. That idea is to tax stock market transactions with a small federal levy that could go a long way to getting our country out of its deficit.

    Anticipated being proposed by Sen. Tom Harkin of Iowa and Rep. Peter DeFazio of Oregon, both Democrats, is to levy a tax of three basis points (0.03 or three hundredth of a percentage point) on most stock market transactions. That’s three cents on each $100 traded. It would apply to all stock market trades, except not on initial public offerings, nor on bonds, nor initial investments and withdrawals from tax-protected accounts, such as 401k savings. The revenue would be collected at the time of sale by the stock market.

    How much would it raise? A whopping $35.2 BILLION a year!

    The idea is being floated here, but is also being considered in Europe, where 11 countries are moving forward with similar plans That includes the key countries of Germany and France and in England, where it is called a “Robin Hood tax,” or a Tobin tax, named for James Tobin, an economist who first proposed the idea.

    There will be arguments against it, as there are on any new tax. But it moves toward collecting a tax on an industry that generally is not taxed, yet is central to commerce and thrives with hordes of profits. It also can discourage day-traders and others into heavy trading.

    As a comparison, buy a new car, and you’re heavily taxed. Spend $20,000 for that car, and the sales tax is $1,200 (six percent in Gwinnett.) You really pay a minimum of $21,200 for the vehicle (plus your tag fee.) Or go to any retail store, say a clothing store, and spend $400, and you end up paying $424.

    But buy $10,000 in stock in the Southern Company, or General Electric, Agco, Rock-Tenn, or any shares in any company, and there is no transaction tax. Under the Harkin-DeFazio plan, your tax on buying $10,000 in stock would be $3. That sounds small. But when you add up the many stock transfers across the nation, it comes to the enormous $35.2 billion a year.

    Many, many Americans, that is those not in the stock market, would never pay this tax. It “taxes the rich” in one way of thinking, though not at a very high level.

    Keep listening. You should be hearing more about this new thought on taxation, both in this country, and in Europe.

    ###
    Elliott Brack

    Elliott Brack

    Elliott Brack is a native Georgian and veteran newspaperman. He published the weekly Wayne County Press for 12 years; was for 13 years the vice president and general manager of Gwinnett Daily News, and for 13 years was associate publisher of the Gwinnett section of The Atlanta Journal and Constitution. He now publishes, in retirement, Web sites on Gwinnett County, http://www.gwinnettforum.com, and Georgia news, http://www.georgiaclips.com.

     

    Print Friendly

     

    Note: Users are solely responsible for opinions they post here and for the agreed-upon rules of civility. Comments do not reflect the views of LikeTheDew.com. Comments are automatically checked for inappropriate language, but readers might find some comments offensive or inaccurate. If you believe a comment violates our rules, click here to report a violation.

    • hannah

      Actually, sovereign states pay for the services they need by issuing currency. Taxes are merely a strategy to keep the currency in the current — i.e. moving. The current kerfuffle is really a matter of confusing what comes first and what comes second. The Congress is pretending that revenues must come in before they can spend. Why? Because we’ve got a bunch of Congresscritters who don’t want or don’t know how to carry out their obligations.

      Why does the President go along with this farce? Because he’s got no choice. The executive DOES have to get revenue (currency) before he can spend. Shall he insult his paymasters or not?

    • Frank Povah

      Too bloody simple, Elliott. And just imagine all the good works that the hedge-fund wide boys could otherwise do with that .03 cents in the dollar. What are you -- some sort of pinko wealth-redistribution nut?

  • Worthy of Comment



  • Also on the Dew

    The Great Transition

    The Great Transition

    By: Dave Pruett

    "The Stone Age came to an end not for a lack of stones, and the oil age will end, but not for a lack of oil." -- Ahmed Zaki Yamani, former Saudi Arabian Minister of Oil, 2000 The Great Transition has begun. I know, because our household is part of it. I speak of humanity's transition from the bondage of addiction to fossil fuels -- addiction that has fouled our air and water, disrupted our climate and ravaged our earth -- to the liberation of renewable energy. You're looking at our house. On February 4, we installed a 12-panel solar photovoltaic (PV) array  Read on →

    Another Last Look

    Another Last Look

    By: Ken Peacock

    In 1972 I had waited two years to receive an invitation to visit China and then four days to get a seat on the train from Hong Kong to Guangzhou. The travel time to Guangzhou, via Hong Kong, by commercial airline and train, was about twenty-six hours. In the years that followed I made many trips to China. Each time the visits became easier, there was no waiting for invitations to visit the country. In the 1980s tourism became a major source of income for China as the country opened up to the western world. It had a lot to  Read on →

    Making The Honor Roll

    Making The Honor Roll

    By: David Evans

    When I first heard the music of Bob Marley years ago, the Jamaican reggae singer-songwriter, guitarist and philosopher, I found myself moving to the music. Somewhat to my surprise, I seemed to be responding automatically to his enlightened suggestion to "lively up yo'self." Music has always been a challenge to me. I guess part of the difficulty has been my insistence on wanting to know how it works rather than just sitting back and letting it work on me. Too much left- and not enough right-brain dominance. Seven years ago, I joined a small ensemble at James Madison University that was  Read on →

    Better tasting pork from happier pigs

    Better tasting pork from happier pigs

    By: Elliott Brack

    The premise is simple: pigs raised on the ground instead of concrete pens are happier pigs and produce better and tastier meat. That’s the theory at Thompson Farms here in Dixie, Ga., where Andrew Thompson produces pork, selling almost all his production to Whole Foods stores throughout most of the South. There’s a local connection: he is the brother of Mike Thompson, an attorney in Technology Park/Atlanta at Peachtree Corners. For the last several years, Thompson Farms has taken the middle man out, selling directly to Whole Foods, which pays a premium price for the high quality and more expensive-to-produce meat. And  Read on →