Is anyone actually surprised by this? It seems that the only thing the Dems know is tax, tax and tax again. They have not had an original idea since Franklin Delano Roosevelt's disastrous New Deal policies that caused the Great Depression to last longer than it should have.
Raising taxes never helped an economy. No nation has ever taxed itself into prosperity although many have taxed themselves into poverty.
Here is the new tax the Dems want to impose on America:
|The AFL-CIO, one of the Democratic Party’s most powerful allies, would like to assess a small tax — about a tenth of a percent — on every stock transaction.|
Nevermind that your money is already double and triple taxed. This simply adds another tax that reduces the amount of money you have to spend on your family. Somewhere along the line, the Democrats got the idea that the working American is a limitless ATM from which the government can withdraw money anytime it wants. But those of us living out here in reality know the truth. Every dollar the government takes is one less dollar the taxpayer has to buy food and clothing for their children or to put towards their own retirement.
What will the ultimate effect of this be?
|The AFL-CIO and some allied Democrats would like to cut down on the overall level of trading, or at least give the U.S. government a piece of the action, which would likely tamp down trading.|
That's it. Reduce the activity in the marketplace and then take money for people earned it and then give that money to someone who did not earn it.
You can access the complete article on-line here:
AFL-CIO, Dems Push New Wall Street Tax
August 30, 2009