More Jill Stein in Forbes

good for her for doing this, and [maybe] good for peter j reilly too.

except, that maybe he's trying to undercut her after all? i notice that in the interview with jill stein he says this about her proposed transaction tax:

I found Dr, Stein’s answer on the transaction tax one of the least satisfying pieces of the interview. I think there is something off about comparing it to a sales tax, which it is more of a tax on consumption. Also, with interest rates as low as they are, 50 basis points seems like an awful lot to pay to trade a bond.

funny thing, back in 2011 he and all his conservative buddies thought it was a terrific idea:

When I was looking at [occupy wall street] last week though, I was able to find only one specific tax proposal. It was not a proposal of the group, but rather something that somebody told them would be a good thing to push for. Surprisingly it wasn’t about “carried interests”. The suggestion was for a tax on stock market trades. The particular proposal was $0.50 per share. Forget about whether that is the right number. More likely it should be based on value of the trade – maybe 50 basis points. Regardless just think about the principle. I kind of like it. I’m going to call it Stock Trading Excise (STE).

he goes on to rapturize for several more paragraphs about a financial transaction tax:

Here is the really interesting thing about that proposal. My day job environment is not populated with a bunch of people like my radical friend Tom Cahill. Many of them are victims of the corporate media blackout and are only vaguely aware of Occupy Wall Street. When I explained OWS to them they were underwhelmed. When I told them about STE though they loved it. In some cases, we are talking here about border line Tea Party types. I am proposing a new tax, which they will have to pay and they love it. Andy Tieman was director of treasury for a major corporation. Like many of those who retired early, he finds himself back at work in a less exalted role. I find his position really ironic. He is one of the nicest guys I know and our best clients – those who pay their bills timely – never get to talk to him. He told me I absolutely had to put the idea on forbes.com. I told him I had and he told me I needed to do it again.

I really don’t know what the cut-off is for being in the 1%, but I asked somebody I know who is likely in it and he likes the idea. Then I tracked down the biggest curmedgeon in the office. Whenever I mention anything vaguely liberal, he will launch into a tirade about the lazy hordes wanting something for nothing. He like the idea too. He stopped by my office on the way out and started gushing with enthusiasm about it.

The positive sentiment is based on the idea that there is way too much speculative trading. As the curmudgeon put it, the hedge funds with their computerized trading have turned the investment world into a gambling casino. Andy and I, the 1 per center and the curmudgeon all are invested in the stock market which is like having a piece of the real American economy that gives us some security against the ravages of inflation (which you have to be kind of old to remember). We don’t think the wild fluctuations are based on underlying economic reality.