2018/07/22: Of the world’s 100 largest economies, 69 are transnational businesses. How can we control—and ultimately transform them?
Changes in our personal consumption patterns are important, but are ultimately inconsequential compared with the impact of the transnationals that have come to dominate our global economic and political system.
countries and cities compete with each other to beg their corporate overlords for investment dollars, even it means undermining public services and legal protections for their own populations.
Tax stock trades based on the length of the holding period:
- 10% if the stock is held less than a day
- 5% if less than a year
- 3% if less than 10 years
- 1% if less than 20 years
- Zero if more than 20 years
The effects of this single step would be enormous. The financial services industry would be transformed overnight. High frequency stock trading and same-day traders would disappear.