On CNBC, @ewarren says we need “a cop on the beat at the SEC” to address market manipulators and the gamification of the market. pic.twitter.com/22hDgRvJS8
— Sawyer Hackett (@SawyerHackett) January 28, 2021
i am just presenting their argument.
how about the counter-argument, though
you know you will hear that.
how about a counter-argument based on fact? the weltiest in this country are paying less in taxes than everyone else. asking them to step up and pay a little more, and you are telling me that they would forfeit their american citizenship if they had to do that i am calling your bluff on that. i am saying that’s not doing to happen.
maybe
maybe.
i don’t think sara is going that far with the point. i think part of the example could be why did elon musk and others, larry ellison move from a high tax state to a low tax state in texas you might be right it might be the right way to redistribute wealth but can you say there is no risk whatsoever it could damage the american economy.
they want to use american highways, american police forces, they want to use american infrastructure. but they don’t want to help pay to support it. that’s the trick a. wealth tax needs to be national because you can still get advantages if you move from state to state but the idea behind a wealth tax is you have to pay it if you are an american citizen. he doesn’t matter whether you live in texas or california or even whether you move to europe or south america if you want to keep your american citizenship, you pay the wealth tax and it doesn’t matter where you put your assets.
The stock market is rigged and has always been rigged.
That’s what Riddit investors proved using the Robinhood platform to purposely manipulate the price of GameShop stock.
Wealthy investors have been manipulating the price of stocks and getting rich for a long time using “short and long” and “put and call” buying and selling.
Several weeks ago a group of small investors (who usually get killed in the market) figured out a legal way to bankrupt hedge funds and investment bankers who held lots of “short positions.”
These vampire investors buy stock in companies that they are betting will lose money. They profit when the value of the asset falls.
By bidding the stock price up, which the Riddit investors did by buying it, the vampires were forced to buy the stock they “shorted” and that’s when they lost their bet and their money.
In this case the vampires lost multiple-billions of dollars.
The stock market has nothing to do with the actual economy and is a very risky place for the average Jane and Joe to put their money.
An attaboy to the 99% plotting on Reddit.