Wednesday, October 5, 2011

Occupy Wall Street

Protests including the Occupy Wall Street:
What are the issues as I see it?

The recent Supreme Court ruling that allows corporations to give large amounts of money for political campaigns, lobbying or other kinds of political adventures is just plain wrong on so many levels. Large corporations should not be considered as individuals, or as private property of the shareholders, but a public trust owned by all the people.

There should widespread debt forgiveness for individuals’ and not for financial institutions or corporations that are too large to fail.

The US military should be denationalized place under the tight control of the UN General Assembly and under the jurisdiction of the World Court and placed on a pay as you go bases in which before any overseas military action there should be a general referendum before all the voters on whether we want to pay for this action or not.

There should be a tax levied on the financial transactions of large investment firms.  There should be a double tax on all Wall Street bonuses with no deductions.  Additional taxes placed on high-speed trading, on equity and bond trading, all traded derivatives all of which is part of the speculative market.  Taxes should be steep on any private investments not tied directly or indirectly to real production or jobs. The body of proof should always be on the large investment holdings.

Paid sick leave and vacation pay must be part of any and all employment along with a minimum wage that is annually set to what is seen as paying for an acceptable way of life. Added to this there should be full employment though the expansion of the public sector.

Universal and free national health care centers should be set up in all counties and in communities with populations over 5,000 in the nation.

Reinstate Glass-Steagall the act that gave a regulated wall between commercial and investment banking. It was intended to prevent commercial-bank speculation. Glass-Steagall was repealed in 1999. This should only be the first step and the principles of the Reinstate Glass-Steagall should be greatly expanded upon to greatly restrict speculative investments.

Augmented and expanded political transparencies through postings as a matter of public record any and all contributions to campaigns. Any and all meetings with lobbyists or any special interest groups, even the groups we support.

Negative income tax (or social wage), the less you make the less you pay even with deductions and for higher income families pay more. Greatly reduce deductions on taxes for investments.

All of the above would a wonderful first step on the road toward a democratic and ethical economy.

Michael Joseph Francisconi
710 S. Atlantic, Dillon Montana

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