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Topic: Tobin Tax. Anyone want to help me build the Tobin Tax website? - page 2. (Read 10224 times)

full member
Activity: 196
Merit: 100

The faux 'trump card' that libertarians use frequently is something along the following lines: "if you have to use force to enact anything then it invalidates your justification", and "force" is painted with as large a brush as possible.  I see this argument alluded to and used all over this forum.  For some, I'd say it's actually their prime "philosophical" mantra.  This 'reasoning' is so deeply flawed.  It gives special status to the status quo.  It makes enacting any means of justice impossible.  It reduces any attempt at social cohesion into an absurd exercise in futility.  But it's so easy; it's really more of an escape clause from deeper levels of understanding what justice is.  Things become very simple and cartoonish when you adopt this world view.  You identify problem "A" in the world but you can't do anything about it because that would require use of "force".  Within this ideology, the only thing you can do is to provide "choices" to people.  Understanding sociology and game theory exposes the absurdity of this position, much of what is viewed as 'choice' in a social context is nothing of the sort.  There really is so much I can say on this topic, but I'd rather hear what this forum has to say regarding a defense of this world view as popularized by Ayn Rand in Atlas Shrugged.


Just to show the absurdity of this argument I've created the following mad-libs below.  They are not a perfect comparasion, but I believe they get the point across.

If you don't like a multi-national corporation raping your country then start your own multi-national corporation.  Everyone who thinks it's a good idea will join it.  Other's won't unless you force them to.  We'll then let people figure out how great your multi-national corporation is.

If you see problems with your culture then start your own culture.  Everyone who thinks it's a good idea will join it.  Other's won't unless you force them to.  We'll then let people figure out how valuable living in a culture with your values are.

If you want to live in a state with your ideal conditions then start your own state.  Everyone who thinks it's a good idea will join it.  Other's won't unless you force them to.  We'll then let people figure out how valuable living in a state with your ideal conditions are.

If you want to live in a country that it's a global empire then start your own country.  Everyone who thinks it's a good idea will join it.  Other's won't unless you force them to.  We'll then let people figure out how valuable living in a country that isn't a war all the time is.

If you want to live on a planet where there is no war, poverty, disease, exploitation, misery and famine then build your own planet.  Everyone who thinks it's a good idea will join it.  Other's won't unless you force them to.  We'll then let people see how valuable your planet is.

You can see that this idea makes reform impossible.  Hence its lack of merit.


The larger your vision, the more effort you need to make it a reality. Why is this a surprise?

Status quo bias is a feature of reality. libertarianism acknowledges this, nothing more.

Most statists really overestimate how difficult it is to build a coalition of people who can agree on a complex issue and how to keep the coalition "pure" and corruption free. Libertarians have tried a lot of activism in the US. Libertarianism loses the political test because there are very few people for whom the "what's in it for me?" question is answered.

In my country, India, there are very few people who even agree to libertarian ideas. How long do you think it is going to take for me and the 1000 or so libertarians in India to convince 900 million indian adults?

You are free to consider this overly cynical, but the present libertarian world-view is built after a lot of trials of political activism that have failed, or are humongous projects on their own.

The law is a ham handed tool. It should not be used to make subtle changes in the world. If you start upon this path, there is no end to it.

The statement that "politics should stay out of economics" is the most political statement that can me made.  Typically it is made by the libertarian monetarists who become obsessed with the icons and symbols of an economy rather than how the whole system functions and to what purpose does it exist.  There is no economic system not upheld by government law, order and protection and no government not supported and reliant upon it's economic system.  They are in a symbiotic relationship; hence the term "Political Economy".  Unfortunately slippery slope arguments like this are hard to quantify and really are an unobserved phenomenon but make a great campaign slogan.  Can you (or anyone) point to an event subject to the 'slippery slope' phenomenon?  You can't because no such thing exists.  The observable historical reality is that government is going to be a vehicle for the interests that control it.  It always has been.  Anything that you'd accredit to a "slippery slope" I can show you the conflict between 2 interests in which 1 did not show up to the fight or not in sufficient strength to "carry the day".  Perhaps they didn't show up to that political struggle because they believed that "The law is a ham handed tool.  It should not be used to make subtle changes in the world.  If you start upon this path, there is no end to it."   That sounds like a great belief to convince your opposition of: a world view that seeks to eliminate opposition by invalidating the human right to be heard in the halls of government, subjecting its adherents into a blind alley of being a political inert mass, a political jellyfish adrift on a sea that truly is your master to which you have no say and no control.  To relinquish your self determination to a pitifully naive ideology that has and never will attainable, or should even be sought, should be given its due credit the social and economic dysfunction of our present global condition.

Unless the average person can identify what is in their best interest and organize and fight for it then please don't naively think that others will not fill this power vacuum.

full member
Activity: 154
Merit: 103
One of the primary purposes is to shut down the existence of HFT as we have established that it is parasitical - at least, my arguments as to why it is parasitical have yet to be countered based on anything derived from the tangible universe in which we live, but I eagerly await any angle on this which I have yet to consider.  There are a few ways I interpret the latter part of your post: that the big HFT banks would be able to continue with HFT?  Or that big non-HFT operations would simply squeeze the little guys out of the market?

Big non-HFT operations would continue.  They wouldn't squeeze little people out of the market, the tax would do that for them.  What would be left of the little people would be buy and holders, now getting severely raped by markets controlled only by big money, because retail traders would be no more.


We do not disagree on HFT and we do not disagree on the need to get our economy back to reality, or at least more distant from money making money.  We don't even disagree on the potential usefulness of this tax... but why can't there be an exception for retail traders?   You keep overlooking this point.



Additionally, while I hate the financial services industry as much as you do, we both acknowledge that it IS a large part of the economy.  This tax would decimate it, and what becomes of all the millions of people that work in that industry?  The tax will make them jobless overnight, but there won't suddenly be a glut of manufacturing jobs for them to jump into in the same time frame.
full member
Activity: 196
Merit: 100
As I understand it, it's a tax on the trade, both ways.
For sure, it'll reduce profits for traders. Basically you'll neep more pips. But you know what ? That the point. It's not complex to understrand that speculation add a premium on the price for the average consumer.
Of course it it important to have some, but we can't have infinite one. We need to put a limit somewhere.

As for the 1%, it's not a fixed one. Different markets could have a differents one, maybe by targetting a max % of speculation transactions within a market.
There as been some work one the value of the %, i think you can find infos on the wiki page


Thanks.  Someone who understands that all of the US can't just trade scrip all day long with all the value that that scrip representing coming from somewhere.  The Tobin Tax is just 1 part of many on a return to a productive economy based on tangible real world asset growth namely products that people can buy and increasing levels of research and output.  This would just 1 nail in the coffin on the dominance of finance (and you can call it whatever you want but it's the same general group: Wall St, the oligarchy, the corporatocracy, the New World Order, the American Elite) in our political system. 

I'm saddened for the USA to see that a country like Iceland could hit an average of $40,000 per capita income (before they were bullied and sabotaged by the UK) while the USA rolls around in a cesspool of economic, social, moral, intellectual, and spiritual decay.  It's amazing to think what life could be if we weren't ruled and duped by monetarists, Malthusians, zero-growthers and other fanatics of different insane ideological viewpoints.

full member
Activity: 196
Merit: 100
If you think traders that are seeking to make speculative profits would be 'demolished' paying a 1% tax I guess that's your interest to uphold.  Not to make this about me, but just for an example, I pay more than 25% of my income in taxes, a large amount in property taxes and others.  Most people pay sales taxes on everything they buy, but if those who's 'work' consists of buying and selling scrips of paper that represent other peoples work, ideas and productive capacity can't afford to pay a scant 1%, I understand.  It is a 'free market' we are trying to uphold here.  I guess they will pay when they pay that 15% capital gains that they are working so hard to eliminate.  What you say?  Deferred taxation on earnings?  Never heard of it.

That's just it though, it's not a 1% tax.  It's a 1% tax on EVERY trade, that's a 2% tax round trip.  That means I'd be paying $2,000 round trip for each standard lot ($100,000) FX trade.  Think about that for a second... $2,000.  That means I would need a many sigma event of a 200 pip move JUST TO BREAK EVEN. 

And that's just ONE trade.  I average over 100 trades per month, so that's over $200,000 PER MONTH in taxes.  You can't be serious if you think that doesn't totally shut down retail trading. 

In order for anyone to actually trade with that kind of tax, we'd have to have little to no leverage.  So instead of being able to comfortably trade standard lots with a $50,000 account, traders would need more like $2,500,000, and that tax would still be crippling.  That's not money normal people can come up with, so it DOES wipe retail people out of trading, leaving only the mega money (the banks) to trade. 

So now you've got a market with ONLY banks trading and any normal Joes actually in the market are buy and holders... who are now being crushed even easier by the banks because the banks are the only ones moving the market.

Actually as I understand it, it's a 1% tax on the profit of the trade. So, if I you had $100,000, make a quick swap into Euros and back in dollars, and end up with $100,001. You would pay a tax of $0.01.

It's a tax on the turnover of the market, not the profits.  The problem in taxing profits as we have seen extensively is that it is harder to implement, requires a much bigger bureaucratic apparatus (anything to minimize unnecessary bureaucracy we should be in favor of), doesn't gain as much revenue and is meaningless against the myriad of tax havens all over the planet.
full member
Activity: 196
Merit: 100
If you think traders that are seeking to make speculative profits would be 'demolished' paying a 1% tax I guess that's your interest to uphold.  Not to make this about me, but just for an example, I pay more than 25% of my income in taxes, a large amount in property taxes and others.  Most people pay sales taxes on everything they buy, but if those who's 'work' consists of buying and selling scrips of paper that represent other peoples work, ideas and productive capacity can't afford to pay a scant 1%, I understand.  It is a 'free market' we are trying to uphold here.  I guess they will pay when they pay that 15% capital gains that they are working so hard to eliminate.  What you say?  Deferred taxation on earnings?  Never heard of it.

That's just it though, it's not a 1% tax.  It's a 1% tax on EVERY trade, that's a 2% tax round trip.  That means I'd be paying $2,000 round trip for each standard lot ($100,000) FX trade.  Think about that for a second... $2,000.  That means I would need a many sigma event of a 200 pip move JUST TO BREAK EVEN. 

And that's just ONE trade.  I average over 100 trades per month, so that's over $200,000 PER MONTH in taxes.  You can't be serious if you think that doesn't totally shut down retail trading. 

In order for anyone to actually trade with that kind of tax, we'd have to have little to no leverage.  So instead of being able to comfortably trade standard lots with a $50,000 account, traders would need more like $2,500,000, and that tax would still be crippling.  That's not money normal people can come up with, so it DOES wipe retail people out of trading, leaving only the mega money (the banks) to trade. 

So now you've got a market with ONLY banks trading and any normal Joes actually in the market are buy and holders... who are now being crushed even easier by the banks because the banks are the only ones moving the market.

One of the primary purposes is to shut down the existence of HFT as we have established that it is parasitical - at least, my arguments as to why it is parasitical have yet to be countered based on anything derived from the tangible universe in which we live, but I eagerly await any angle on this which I have yet to consider.  There are a few ways I interpret the latter part of your post: that the big HFT banks would be able to continue with HFT?  Or that big non-HFT operations would simply squeeze the little guys out of the market?

If your business model is to make short-term trades all day this obviously would adversely affect your bottom line to a degree.  But it's hard to say how much as the exchange markets would look significantly different.  Estimates put the total amount of trade volume due to HFT at upwards of 70-80%, and that number is climbing.  To what we've already discussed through HFT you are affectively paying more at the exchange than you would otherwise be if HFT wasn't allowed.  So it does require a bit of imagination to see if this would be in your personal, short-term best interest which seems to be all that most consider.  Most the large banks are that you are probably worried about are insolvent and need to be liquidated in Chapter 7 bankruptcy, so I don't know to which 'big banks' you'd be speaking of that (in my perfect world) would be allowed to survive as is.

Another purpose is to raise revenue from the financial sector which has been having windfall year after windfall year and yet another reason is to drain the speculative swamp that is the financial markets.  Too much money is sloshing around the currency markets for certain, and I'd rather have a 1% Tobin Tax on this flow than capital controls which will probably be here soon anyway.

It may be the case that even after HFT was effectively stopped that this 1% tax would not be in your best interest, and that's your position to uphold.  My desire through this tax is to prevent the national bankruptcy of the USA and the return to a real economy, not our spectral apparition of an economy that has and can only continue to exist through our world reserve currency status.  I fear that when that this rug is pulled out from under us it will result in a crushing level of poverty for the vast majority of US citizens (and the world) and/or World War III.  That's what I wish to avoid, but if your own personal self interest seems to outweigh this outcome, then by all means propose a better program to head off the coming crisis.

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Activity: 154
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The premium on the last buyer is perhaps not a good expression.
Let's take oil as an example. What i mean by this premium, is the increase of the price paid by at the pump, by the final consumer of the product, which is due tu speculation.

A recent report show that this increase due to speculation could be as high at 20%
http://ourfinancialsecurity.org/blogs/wp-content/ourfinancialsecurity.org/uploads/2011/07/FINAL-Wrap-up-Gas-Prices-Speculation-Call-6-30-11.pdf
http://www.youtube.com/user/TheRealNews#p/u/5/furSTUKwfOw


Ok and what happens when speculation forces prices DOWN instead of up?  Trading is equally likely to bring prices down as it is to ramp them up.



I'm ok with speculators making money, they are providing a service in markets, I just want to put a limit somewhere.

And about the tax amount, you're saying it won't be profitable without knowing how big that tax is. 1% is not a fixed number, i have now idea how low this tax should be, i just think there should be one.
Then we can make a bigger tax in comodities, a smaller in forex. Depend of the need for speculators within the market.
There will still be winner because we need speculators, there'll just be less.

In your example you're talking about a 200pip average to break even. How about a 20pip then ? maybe that's already enough to make HFT non profitable


While I understand where you're coming from, this is the same flawed thinking that makes a gas tax to lower oil consumption seem like a good idea.  In both the case of this tax and a gas tax, the people that are the LEAST problem to the system (retail traders and broke-ass people that can hardly afford gas to begin with) are the hardest hit, while those that are actually detrimental to the system (the big banks and people driving around in Hummers) can easily afford the tax so it has little to no effect on them.

You can't hit big players by taxing everyone equally.  When you tax everyone equally, the people hardest hit are the ones that were struggling to begin with, the littlest guys that weren't hurting anyone.  Meanwhile, you have next to no effect on the wealthy leeches and manipulators you're trying to stop.  This is why I'm saying that this tax wants to be viable, it needs an acception for retail traders and investors.
sr. member
Activity: 434
Merit: 251
The premium on the last buyer is perhaps not a good expression.
Let's take oil as an example. What i mean by this premium, is the increase of the price paid by at the pump, by the final consumer of the product, which is due tu speculation.

A recent report show that this increase due to speculation could be as high at 20%
http://ourfinancialsecurity.org/blogs/wp-content/ourfinancialsecurity.org/uploads/2011/07/FINAL-Wrap-up-Gas-Prices-Speculation-Call-6-30-11.pdf
http://www.youtube.com/user/TheRealNews#p/u/5/furSTUKwfOw

I'm ok with speculators making money, they are providing a service in markets, I just want to put a limit somewhere.

And about the tax amount, you're saying it won't be profitable without knowing how big that tax is. 1% is not a fixed number, i have now idea how low this tax should be, i just think there should be one.
Then we can make a bigger tax in comodities, a smaller in forex. Depend of the need for speculators within the market.
There will still be winner because we need speculators, there'll just be less.

In your example you're talking about a 200pip average to break even. How about a 20pip then ? maybe that's already enough to make HFT non profitable
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Activity: 154
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I don't have a lot of experience in trading/economy, maybe you can correct my thinking and tell me where i'm wrong.

(1) By doing speculation, you are expecting some winnings. Where does the money come from ? Is it only from wrong speculators, making speculation a zero sum game ? Or does it come by a premium on the last buyer ? (I think the answer is both)

(2) And for the tax, to me it's just a tax on your average pip/trade. If your (average rate - tax) is positive, you're still a winner. Since HFT has a very low expectancy, and play with volume, their winrate become negative.


The market is a zero sum game overall.  The winnings do have to come from someone else, but can you explain what you mean by "premium on the last buyer" and then maybe I can provide you with a more relevant answer?  What you're saying applies to HFT, but I don't see how it applies to regular retail traders.


Your second point is a bit captain obvious.  The point I was making is that you would have to be a trading GOD to have an average profit large enough to cover the tax, never mind actually make any money.  The necessary risk to bank on 200 pip moves to just break even is well... no one would even bother.  That's  like betting your house on a 1:1,000,000 chance of winning a free coffee.  
Did you see the post I made with the example numbers?  How on earth am I supposed to cover $200,000 PER MONTH in taxes?  How is that feasible for anyone that isn't a billionaire/massive bank?  I know people that do THOUSANDS of FX traders per month, that's over $2 MILLION PER MONTH in taxes.  You can't possibly think any retail trader makes that much money.  If I made even 1/10 of that I'd be laying on a beach in the Bahamas blowing fat lines off porn stars with Charlie Sheen, not sitting here debating this with you.  Kiss
sr. member
Activity: 434
Merit: 251
I don't have a lot of experience in trading/economy, maybe you can correct my thinking and tell me where i'm wrong.

(1) By doing speculation, you are expecting some winnings. Where does the money come from ? Is it only from wrong speculators, making speculation a zero sum game ? Or does it come by a premium on the last buyer ? (I think the answer is both)

(2) And for the tax, to me it's just a tax on your average pip/trade. If your (average rate - tax) is positive, you're still a winner. Since HFT has a very low expectancy, and play with volume, their winrate become negative.
full member
Activity: 154
Merit: 103
As I understand it, it's a tax on the trade, both ways.
For sure, it'll reduce profits for traders. Basically you'll neep more pips. But you know what ? That the point. It's not complex to understrand that speculation add a premium on the price for the average consumer.
Of course it it important to have some, but we can't have infinite one. We need to put a limit somewhere.

As for the 1%, it's not a fixed one. Different markets could have a differents one, maybe by targetting a max % of speculation transactions within a market.
There as been some work one the value of the %, i think you can find infos on the wiki page



It's not reduced profits and needing a few more pips, it's a straight up impossibility that completely eliminates retail trading.

Tell me how retail trading, NOT HFT, adds a premium for the average consumer.  As I just explained, this basically turns the market into straight buy and hold land for anyone that's not a billionaire or bank, which is exactly what the banks and trading desks want.  That allows them to move the market and take granny's pension fund to the cleaner with zero complication from retail traders.


Add an exemption for retail traders and I'm more likely to be in favor of it.  Personally, I think HFT should just be straight up banned.  That solves the HFT problem and doesn't hurt people that aren't involved.
newbie
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Taxes is theft.

No thanks, I will not associate this kind of ordeal.
full member
Activity: 133
Merit: 100
sr. member
Activity: 434
Merit: 251
As I understand it, it's a tax on the trade, both ways.
For sure, it'll reduce profits for traders. Basically you'll neep more pips. But you know what ? That the point. It's not complex to understrand that speculation add a premium on the price for the average consumer.
Of course it it important to have some, but we can't have infinite one. We need to put a limit somewhere.

As for the 1%, it's not a fixed one. Different markets could have a differents one, maybe by targetting a max % of speculation transactions within a market.
There as been some work one the value of the %, i think you can find infos on the wiki page
full member
Activity: 154
Merit: 103
If you think traders that are seeking to make speculative profits would be 'demolished' paying a 1% tax I guess that's your interest to uphold.  Not to make this about me, but just for an example, I pay more than 25% of my income in taxes, a large amount in property taxes and others.  Most people pay sales taxes on everything they buy, but if those who's 'work' consists of buying and selling scrips of paper that represent other peoples work, ideas and productive capacity can't afford to pay a scant 1%, I understand.  It is a 'free market' we are trying to uphold here.  I guess they will pay when they pay that 15% capital gains that they are working so hard to eliminate.  What you say?  Deferred taxation on earnings?  Never heard of it.

That's just it though, it's not a 1% tax.  It's a 1% tax on EVERY trade, that's a 2% tax round trip.  That means I'd be paying $2,000 round trip for each standard lot ($100,000) FX trade.  Think about that for a second... $2,000.  That means I would need a many sigma event of a 200 pip move JUST TO BREAK EVEN. 

And that's just ONE trade.  I average over 100 trades per month, so that's over $200,000 PER MONTH in taxes.  You can't be serious if you think that doesn't totally shut down retail trading. 

In order for anyone to actually trade with that kind of tax, we'd have to have little to no leverage.  So instead of being able to comfortably trade standard lots with a $50,000 account, traders would need more like $2,500,000, and that tax would still be crippling.  That's not money normal people can come up with, so it DOES wipe retail people out of trading, leaving only the mega money (the banks) to trade. 

So now you've got a market with ONLY banks trading and any normal Joes actually in the market are buy and holders... who are now being crushed even easier by the banks because the banks are the only ones moving the market.

Actually as I understand it, it's a 1% tax on the profit of the trade. So, if I you had $100,000, make a quick swap into Euros and back in dollars, and end up with $100,001. You would pay a tax of $0.01.

I thought we just went through this though?  Reference a few posts up.  Now I'm back to being confused. 

If it's a tax only on the profit, then it does absolutely nothing to stop HFT because 1% isn't shit.  If it's a tax on the underlying value of the trade, then it will totally crush the retail markets.
newbie
Activity: 56
Merit: 0
If you think traders that are seeking to make speculative profits would be 'demolished' paying a 1% tax I guess that's your interest to uphold.  Not to make this about me, but just for an example, I pay more than 25% of my income in taxes, a large amount in property taxes and others.  Most people pay sales taxes on everything they buy, but if those who's 'work' consists of buying and selling scrips of paper that represent other peoples work, ideas and productive capacity can't afford to pay a scant 1%, I understand.  It is a 'free market' we are trying to uphold here.  I guess they will pay when they pay that 15% capital gains that they are working so hard to eliminate.  What you say?  Deferred taxation on earnings?  Never heard of it.

That's just it though, it's not a 1% tax.  It's a 1% tax on EVERY trade, that's a 2% tax round trip.  That means I'd be paying $2,000 round trip for each standard lot ($100,000) FX trade.  Think about that for a second... $2,000.  That means I would need a many sigma event of a 200 pip move JUST TO BREAK EVEN. 

And that's just ONE trade.  I average over 100 trades per month, so that's over $200,000 PER MONTH in taxes.  You can't be serious if you think that doesn't totally shut down retail trading. 

In order for anyone to actually trade with that kind of tax, we'd have to have little to no leverage.  So instead of being able to comfortably trade standard lots with a $50,000 account, traders would need more like $2,500,000, and that tax would still be crippling.  That's not money normal people can come up with, so it DOES wipe retail people out of trading, leaving only the mega money (the banks) to trade. 

So now you've got a market with ONLY banks trading and any normal Joes actually in the market are buy and holders... who are now being crushed even easier by the banks because the banks are the only ones moving the market.

Actually as I understand it, it's a 1% tax on the profit of the trade. So, if I you had $100,000, make a quick swap into Euros and back in dollars, and end up with $100,001. You would pay a tax of $0.01.
full member
Activity: 154
Merit: 103
If you think traders that are seeking to make speculative profits would be 'demolished' paying a 1% tax I guess that's your interest to uphold.  Not to make this about me, but just for an example, I pay more than 25% of my income in taxes, a large amount in property taxes and others.  Most people pay sales taxes on everything they buy, but if those who's 'work' consists of buying and selling scrips of paper that represent other peoples work, ideas and productive capacity can't afford to pay a scant 1%, I understand.  It is a 'free market' we are trying to uphold here.  I guess they will pay when they pay that 15% capital gains that they are working so hard to eliminate.  What you say?  Deferred taxation on earnings?  Never heard of it.

That's just it though, it's not a 1% tax.  It's a 1% tax on EVERY trade, that's a 2% tax round trip.  That means I'd be paying $2,000 round trip for each standard lot ($100,000) FX trade.  Think about that for a second... $2,000.  That means I would need a many sigma event of a 200 pip move JUST TO BREAK EVEN. 

And that's just ONE trade.  I average over 100 trades per month, so that's over $200,000 PER MONTH in taxes.  You can't be serious if you think that doesn't totally shut down retail trading. 

In order for anyone to actually trade with that kind of tax, we'd have to have little to no leverage.  So instead of being able to comfortably trade standard lots with a $50,000 account, traders would need more like $2,500,000, and that tax would still be crippling.  That's not money normal people can come up with, so it DOES wipe retail people out of trading, leaving only the mega money (the banks) to trade. 

So now you've got a market with ONLY banks trading and any normal Joes actually in the market are buy and holders... who are now being crushed even easier by the banks because the banks are the only ones moving the market.
newbie
Activity: 56
Merit: 0
If people of good will and upstanding moral character abandon the use of force do you think that people of ill-will will follow suit?  The role of government is a role of force through a system of law.  The abandonment of force means turning over the keys of government to those only of ill-will.  And that's presently the system we have.  Some may like it worded in the old axiom "if force is outlawed only outlaws will use force".

I completely agree. It's not illegal to apply force when force is being forced upon you. It's your right to defend your life, liberty, and property. This is one of the most essential human rights.

UPDATED: What we are debating is when it's okay to use force. If you can't kill someone for no reason, neither can the government.


In order to have a global empire in the first place it does require force.  But it also requires force to dismantle it.  Is being a proclaimed pacifist enough while your labor is taxed from you and used to wage wars and sustain a global empire?  Does that make you a pacifist?  Does that make you a non-user of force?
See what I had to say about this above.

This whole argument of force is such a semantic journey into linguistical never-neverland.  What we should be talking about is what is good and moral and how we determine what is and what isn't.  I promise you it's a more intellectually stimulating argument.  Maybe that's why so many of the classics focused on morality.

Ok, I would be very interested in this. I already think we've been debating this somewhat already.


full member
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Merit: 100
Guy, just ignore him.  He's a kid.  Stick to responding to the legitimate questions and arguments.

Why do you put so much weight on somebody's age instead of show a willingness to defeat their points? If a kid told you blood was red, would you suddenly assume it wasn't?

I don't know if Atlas is 'a kid' and I don't really care, he makes reasoned points and has a strong understanding of what he's talking about, even if we don't agree on everything.

I'm interested in knowing whether you realize and/or care that this tax would destroy retailing trading, especially highly leveraged FX trading.

This is a legitimate point. The Tobin Tax is a bad idea.


I know this wasn't directed at me, but I have no qualms with anyone's age.  All I listen to is the reasoning of one's arguments and the facts they present.  If all of us did the same we'd all be better off.

As for the Tobin tax being a "bad idea" can you explain why?  To me that could mean that you find it inferior to all other forms of taxation.  If so, why do you find it less favorable than sales taxes, income taxes, luxury taxes, tariffs, value-added taxes, estate taxes, etc?
full member
Activity: 196
Merit: 100
Just to show the absurdity of this argument I've created the following mad-libs below.  They are not a perfect comparasion, but I believe they get the point across.

If you don't like a multi-national corporation raping your country then start your own multi-national corporation.  Everyone who thinks it's a good idea will join it.  Other's won't unless you force them to.  We'll then let people figure out how great your multi-national corporation is.

Those examples are all way too broad to even debate with. What does raping refer to exactly? Strip mining and polluting someone's water? If  a national corporation does this, then this is actually a role for government to protect property rights in my opinion.

If you want to live in a country that it's a global empire then start your own country.  Everyone who thinks it's a good idea will join it.  Other's won't unless you force them to.  We'll then let people figure out how valuable living in a country that isn't a war all the time is.

There is a very obvious logical fallacy here, and that is that in order to have a global empire in the first place, you must apply force. This same thing applies to those other examples you posted.

If people of good will and upstanding moral character abandon the use of force do you think that people of ill-will will follow suit?  The role of government is a role of force through a system of law.  The abandonment of force means turning over the keys of government to those only of ill-will.  And that's presently the system we have.  Some may like it worded in the old axiom "if force is outlawed only outlaws will use force".

In order to have a global empire in the first place it does require force.  But it also requires force to dismantle it.  Is being a proclaimed pacifist enough while your labor is taxed from you and used to wage wars and sustain a global empire?  Does that make you a pacifist?  Does that make you a non-user of force?

This whole argument of force is such a semantic journey into linguistical never-neverland.  What we should be talking about is what is good and moral and how we determine what is and what isn't.  I promise you it's a more intellectually stimulating argument.  Maybe that's why so many of the classics focused on morality.

These "arguments" (examples using the same template as an earlier user made) are obviously absurd, that was their intent.  Were you also so quick in pointing out the absurdity of the original argument of me making my own exchange?  Is so, I didn't see it.  

In addition I can't just choose not to be subject to what happens on the stock market.  It has a massive influence on all our lives either directly or indirectly. Hence my wish to use "force" to reform it.

[As a correction: the corporation, planet and culture arguments wouldn't necessarily require 'force' as other examples would.]
full member
Activity: 140
Merit: 100
firstbits: 1kwc1p
Guy, just ignore him.  He's a kid.  Stick to responding to the legitimate questions and arguments.

Why do you put so much weight on somebody's age instead of show a willingness to defeat their points? If a kid told you blood was red, would you suddenly assume it wasn't?

I don't know if Atlas is 'a kid' and I don't really care, he makes reasoned points and has a strong understanding of what he's talking about, even if we don't agree on everything.

I'm interested in knowing whether you realize and/or care that this tax would destroy retailing trading, especially highly leveraged FX trading.

This is a legitimate point. The Tobin Tax is a bad idea.
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