The Deluge

by Stephen Markley

the scale of the crisis necessitates more radical measures to address the culprit of inequality. There is an unquestionable economic and environmental advantage to eradicating the structural inequities of our current system. This begins by disciplining out-of-control transnational financial capital and making it work for the purposes of remedying the climate crisis. A financial transaction tax will curb speculation and raise approximately $300 billion per year while the regulation of tax havens will wring out the aimless hot money producing distortionary effects around the globe. A carefully designed estate and consumption tax on extravagant consumer goods: private jets, recreational boats, homes beyond the primary residence, electronics, estates larger than $5 million, cigarettes, alcohol, marijuana, psychedelics, cosmetics, and finally advertising.