Only one thing could possibly improve the travesty that is fintech: a per-transaction tax. Even a $.0001 tax per trasaction would buy universal college education and universal medical care, with plenty left over to replace all coal and oil-fired power with renewables and storage and replace the air fleet with hydrogen-powered craft.
> Only one thing could possibly improve the travesty that is fintech: a per-transaction tax. Even a $.0001 tax per trasaction would buy universal college education and universal medical care, with plenty left over to replace all coal and oil-fired power with renewables and storage and replace the air fleet with hydrogen-powered craft.
That would only happen if fintech didn't change their behavior in response to such a tax. I do not find that to be a reasonable assumption.
It would still be worth conducting fintechy business. It would barely affect bonuses. It would still buy all that stuff after behavior adapted to the change.
Your claim is of a piece with claims that raising the minimum wage would destroy jobs, and people on minimum wage would be out of work. Guess what, we tried it anyway, jobs didn't vanish at all, poor people have more money to spend on necessities, and everyone is better off.
