Echoing the demands of the Occupy Wall Street protesters, Rep. Peter DeFazio (D-OR) is proposing to tax the trading of stocks, bonds, and derivatives. DeFazio, along with his Senate co-sponsor Sen. Tom Harkin (D-IA), has proposed the tax several times in the past. But this time around, the idea is getting a boost of momentum from the popularity of a similar measure in Europe, as well as renewed national media focus on Wall Street profiteering as a result of the 99 Percent Movement:
Declaring Wall Street a “gambling casino,” DeFazio said the new tax would “both raise needed revenue for the Treasury and rein in speculation on Wall Street.”
Already, the business community is mounting a counteroffensive. With the congressional supercommittee looking to trim at least $1.2 trillion in projected debt over 10 years, the tax could look tantalizing, despite public opposition from many Republicans and Treasury Secretary Timothy Geithner. [...]
MoreThe tax could help shrink the deficit — its previous iteration was estimated to add $150 billion a year to federal coffers — and spare Social Security, Medicare and other programs from jarring cuts.
jesus! thats their friggin answer to everything! lex luthor tries to kill superman, tax kryptonite sales! robbers taking out convenience stores, tax ski masks! flu epidemic, tax sneezes! F__ YOU AND YOUR TAXES!
ReplyDeleteTax them like you tax tobacco products.
ReplyDeleteIt is gambling, and a lot of times done with other peoples money.
ReplyDeleteRight on 9:58 but its always done with other peoples money
ReplyDelete