Pronto.
Frowning takes 68 muscles.
Smiling takes 6.
Pulling this trigger takes 2.
I'm lazy.
Posted on 08/22/2010 1:39:47 PM PDT by GailA
A tax on currency transactions could both stablize our finanical system and pay for investments in global health, climate change mitigation and affordable child care, according to Rep. Pete Stark.
“Every day, there are $4 trillion worth of currency transactions,” Stark, D-Fremont, said in a news release. “The vast majority of these are speculative – banks trying to make a buck by out-guessing the system. This speculation contributed to the last Wall Street crisis and makes our financial system less stable.”
“The proceeds of a new tax on currency speculation will be used to provide billions in new funding for important global and domestic priorities. At home, this bill will give more money to affordable child care programs. Globally, it will contribute billions to climate change and world health programs,” added Stark, chairman of the House Ways and Means Health Subcommittee.
It’s not a new idea; the late Nobel Laureate economist James Tobin was talking about something like this almost 40 years ago.
(Excerpt) Read more at ibabuzz.com ...
A noticably right wing group of nutter don't you think? /sarc
I hope they try. Just let them try.
Stark, before making it big in Congress, was a bank owner in Contra Costa (Alameda?) county in California. If memory serves, he drove the bank into the ground, but managed to sell out to Arabs (either Kashoggi or Bin Mahfouz) who were looking for a toehold in the American market. After the sale, the Arabs were not allowed to own an American bank. By that time Stark was long gone.
Better to just deport the traitors. Let them live in Cuba, Africa, N. Korea or Venezuela.
Or Mexico.
The federal government, led by democrats and totalitarians like Stark, continues to look for an action that is so outrageous, people’s response will create an excuse for martial law.
Not Mexico. They’ll just come back.
Cuba is more appropriate.
Of course these tax consumer groups support this tax. I cannot conceive of a tax they would not support: driveway taxes, value-added taxes, sin taxes, currency transaction taxes, carbon taxes or cap-and-tax: any kind of taxes. Tax consumers are growing increasingly desperate as they see an ever-increasing share of current government revenues disappearing into the fiscal black hole of bloated civil serpent compensation and benefits packages as well as pensions, which have to be paid out before all other claims on the public treasury. Critical "social service" spending in some states is already being pared back as government revenues decline. This could easily devolve into a war on the left, as traditional democrat clients see food stamp and other programs cut as civil serpent pay soars.
We're going to see a blizzard of proposals for new fees, taxes, etc, in upcoming years. Our only recourse is to fight every single one of them, even those advanced for a seemingly worthy purpose (a favorite tactic of our rulers at the local level is to put forward proposals for taxes earmarked for expenditures they think the public will support (e.g., libraries, senior centers, athletic facilities for schools) instead of prioritizing and paying for needed items out of already enacted revenue flows. (Of course, that might mean that the public employees might not get an 8% raise this year.)
STARVE THE BEAST!
Good point
Starve the Beast. Start Government. Those would make good bumper stickers.
Duh, typo disease here. “Starve the Beast.” “Starve Government.”
this is also another swipe at the people who put some of their cash into gold before 0bama cut the value of the dollar by 50%
The money will go directly into international bureaucrats and Democrats' pockets.
It would help if 65% of district 13 CA voters were not complete morons.
Pronto.
This 1% tax must be different from Stark’s proposed currency tax. The latter is smaller, .0005%. But it’s something that could grow. Even at .0005% it effectively would ban active currency trading, by adding an additional cost that is comparable to commissions already being paid.
Where are the people in America — excluding a few overpaid, well-connected, democrats and maybe some republicans — that would benefit by driving this country’s economy into the ground? I don’t see many. Certainly, not minorities. Not average wage-earners. Not rank-and-file democrats. And not, even, SEIU and their ilk.
We should ask that question of the North Korean elites, who have perfected the art of destroying an economy, while remaining in power.
Great way to make this much, much more worse. Is this all the Dims know, tax and spend, tax and spend? Is this their answer to everything. All the worlds economic problems are pretty much caused by the Dims and the so called “victims”.
Excuse me, but WTF is wrong with these idiots? They’re really trying to kill the country aren’t they?
No, they think that the U.S. is financially unsinkable. Just like GW thought that his pet spending project wouldn't sink the U.S. and his "homeownerhip" project wouldn't sink the U.S. and his endless hope for amnesty wouldn't sink the U.S. financially.
These people spend their entire lives in a place where money is endless and easy to come by.
If you think that GW didn't think the U.S. was unsinkable then remember the somber, almost funereal pose when he talked about having to "save the free market by destroying it" or some such drivel.
The reality hit home that the U.S. didn't have an endless supply of cash but that didn't stop the rest of them.
They are drunk on power, money and control. We are passengers in a vehicle that is headed toward a granite wall with a driver (the federal govt) that is drunk, thinks it's invincible and craves more speed.
From what the bottom part says yes, it would be any banking transactions.
My few CD’s under GW were making 4-5%, today they are making 1.45% and I’m moving them out as soon as they mature.
So much for not taxing any couple under $250G.
Stroke of the pen, law of the land.
You and the rest of us conservatives know how business works, the libs don’t have a clue that taxes on businesses are passed on to the consumer.
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