For a moment, imagine a situation in which unbridled greed is extolled as a virtue. Imagine circumstances in which pathological gambling activities, the conscious promulgation of fraudulent financial instruments and the consensual validation of patently unsustainable business practices have been surreptitiously insinuated into the global economy. Do you think it would make sense to place a tax on individuals and corporations holding obscene amounts {ie, more than one million dollars for individuals and one-hundred million dollars for corporations} of toxic, ill-gotten gains?
Joe Romm is a Fellow at American Progress and is the editor of Climate Progress, which New York Times columnist Tom Friedman called "the indispensable blog" and Time magazine named one of the 25 “Best Blogs of 2010.″ Read more.
Thanks for posting this Joe.
FYI, we also featured comments from Joe in our headlines from last week (with a feature interview with Hazel Henderson about the market meltdown): http://corporatewatchdogmedia.blogspot.com/2008/10/hazel-henderson-on-post-wall-street.html
Bill Baue
Co-host, Corporate Watchdog Radio
For a moment, imagine a situation in which unbridled greed is extolled as a virtue. Imagine circumstances in which pathological gambling activities, the conscious promulgation of fraudulent financial instruments and the consensual validation of patently unsustainable business practices have been surreptitiously insinuated into the global economy. Do you think it would make sense to place a tax on individuals and corporations holding obscene amounts {ie, more than one million dollars for individuals and one-hundred million dollars for corporations} of toxic, ill-gotten gains?