On Thu, Sep 11, 2008 at 10:20 AM, Jim Devine <[EMAIL PROTECTED]> wrote: > > > My inference is the opposite from yours: any tax on financial speculation > is > > highly unlikely precisely because it'd be so progressive. > > it's not the opposite. It's absolutely true that the vast majority of > US capitalists right now oppose any kind of progressive change like a > Tobin tax. But the fact that some (Soros?) see this kind of reform as > a good thing and that the political balance may be changed by events > (see above) suggests that it's more likely to go through than (say) > confiscatory inheritance taxes. >
There are many high-minded individuals who make their peace with the capitalist system in their own ways. Gates and Buffett voluntarily chose a confiscatory inheritance tax of sorts. Soros is a really strange guy: he has spoken and written a lot for more than a decade about the harms caused by the activities of speculators such as himself! I don't think these men speak for the capitalist class but purely for their own personal convictions. -raghu. -- "CURIOSITY? Nah. I got THAT cat with a lawnmower."
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