
What Would Happen If Bernie Sanders Taxed Wall Street? - prostoalex
http://www.wsj.com/articles/what-would-happen-if-bernie-sanders-taxed-wall-street-1455359588?mod=e2fb
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greenyoda
I'm always puzzled by these kinds of articles. Under the U.S. system, the
president can't tax anyone. To create new taxes or raise existing ones,
Congress has to enact legislation. Since many legislators on both side of the
aisle get a lot of campaign contributions from the financial industry, the
chance of this kind of legislation passing is small. Also, Republicans
currently have a majority of both houses of Congress, so if Sanders is elected
he won't have an easy time getting any of his agenda enacted.

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prostoalex
Beyond the pure clerical duty of executing on existing laws, the President has
both the right of legislative initiative and relatively unhindered
communication channel with the nation (as opposed to being a Senator,
Congressman or just a random activist, where it's just another voice out of
many) to explain his case. The way the congressional and senatorial elections
are structured, it's possible for a President with a plausible agenda to
manipulate the public into electing cooperative legislators.

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bobby_9x
The problem is that he is saying he will only tax Wall Street, but it's pretty
obvious to anyone with an interest in economics, that it won't stop there.

To fund everything he wants, everyone will be taxed.

He said one time that he wants the upper tax bracket (federal) to be 56%. With
state+federal+local taxes, this means your actual tax rate will be closer to
75% (just like in Norway, which is what he wants to emulate).

It's strange that so many people criticize Trump for discriminating against
minorities, when Sanders is doing the same thing.

The 1% is a minority in this country and his main plat form is taking
everything he possible can away from them and using them as a scapegoat for
everyone's problems.

I call it 'economic fascism'.

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undersuit
The 1% is a minority? Well then I guess so is the 49%!

Your wealth isn't a trait. You're not born wealthy, you're born into wealth.
You're not stuck being wealthy, you make a choice every day to remain wealthy.

