HolyCoast: Democrats to Propose Transaction Tax on Financial Institutions

Wednesday, November 02, 2011

Democrats to Propose Transaction Tax on Financial Institutions

Of course they will:
Two U.S. lawmakers will introduce measures to impose a transaction tax on financial firms that resembles a proposal released by the European Union.

Senator Tom Harkin, an Iowa Democrat, and Representative Peter DeFazio, an Oregon Democrat, will introduce the bills tomorrow in their respective chambers. The bills will give the United States an increased role in the international debate over a transaction tax, which is likely to be discussed at the Group of 20 summit this week in Cannes, France.

“It’s a significant way to raise some needed revenue,” Harkin said in an interview today in Washington. “Quite frankly, I bet nobody would even feel it.”
Oh, you'll feel it alright. It'll never become law because it won't pass the House, but Dems will feel it when the GOP uses it as a campaign issue next year.

1 comment:

Larry said...

“Quite frankly, I bet nobody would even feel it.” -Senator Tom Harkin (D)

Liberals love to gamble with other peoples' money, just look at Jon Corzine -care to put some of YOUR OWN money behind that bet Senator Harkin, instead of wagering every one else's?

It reminds me of the movie 'Trading Places' where tycoons manipulate people's lives from riches to rags over a wager of one dollar. When Corzine gambled away all the taxpayers money in New Jersey, he did what any losing gambler would do -he changed tables. Last night's news report about the missing money at MF Global, Corzine's current game, said that Corzine “really knows his way around money” -yeah, like a bull really knows it's way around a china shop.

This morning the USDA released their updated food-stamp (SNAP) data. 492,351 more people were on public assistance in August than in July -notice that the government is so busy handing out free money that it takes them two months just to figure out how many people they're giving it all to. So Harkin makes a bet, and loses, and a half-million more Americans are on food stamps. Oh well, might want to try your hand at the nickel-slots instead.