"House Speaker Nancy Pelosi (D-Calif.) endorsed the idea of a 'global' tax on stock trades and other financial transactions, saying the estimated $150 billion in annual revenue from such a tax could be used to help fund more stimulus spending."
When they passed the Stimulus bill in early 2009, we were promised unemployment would not go above 8%. As of December 2009, we're at 10%, a 25% increase. We were promised this bill would create jobs. Supposedly it has, at a cost near $250,000 each according to this Reuters' article. Additionally, the average payroll is approximately $60,000. So... sounds like four times as many jobs should have been created with what was spent so far. The math simply doesn't add up and that's because of the inherent corruption that exists when government meddles in the free market.
This SF twit also stated that, "I think there would be a market for it among the American people to say that we are all participating in the economic prosperity of our country, and we are all pitching in to continue that prosperity.”
WE ALREADY PITCH IN!!! The top 1% of income earners dole out over 1/3 of their income in Federal Income Taxes alone [soon to be 40%]. In CA they pay out an additional 9% in State Income Taxes. We also pay out a Capital Gains Tax between 15-25% depending on how long the stock, house, etc. was held onto. In CA we pay a sales tax anywhere between 8.75-9.75% depending on which county one lives in. This is ridiculous. What services does the government provide to those people that pay anywhere up to 60% of their income in taxes? What has the government done in order to deserve 3/5 of what one makes?
This is the inherent problem with redistribution of wealth. One class of people pay for the benefits of another class of people. Those on the receiving end will continually vote for the Political Party that promises the greatest benefits, currently the Democratic Party. As the benefits increase, so does the burden placed on the tax paying class, to the point the incentive to produce wealth is diminished. "To each according to his need" anyone? We witnessed the collapse of the Soviet system due to this philosophy, and we've witnessed the unleash of wealth creation in China when they disbanded this principle and adopted free market capitalism.
The only way to spur Economic growth will be for our burden to be reduced. You want a capital infusion into our Economy to spur job creation? Temporarily suspend Capital Gains Taxes. You'll collect a percentage of the wealth created anyways via Federal Income Taxes and State Income Taxes and Sales Taxes and if people use that capital to purchase property to construct new warehouses, new office space, etc., you'll collect property taxes too. Unfortunately Progressive dimwits like Pelosi, Reid and Obama don't understand this principle.
The only way our country will recover from these asinine tax policies and proposals will be if we change the leadership in the House and Senate and elect Politicians that fundamentally understand capitalism and its inherent superiority to every other economic model in existence. Until then, we'll continue to suffer as a Nation under these economic stifling conditions making us less competitive, and thus, less prosperous. Pelosi does care about our prosperity afterall, she stated so.
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What a dumb woman. It's all about power. All these democrats are power hungry. We went from our first President who didn't want to serve a third term although the people wanted him to, to these politicians who want to rule the world. It's simply not what our country's forefathers had in mind. All they want is power and money. They tell us this all for our own good and promise the poor shall rise, but I believe that poor people are poor for a reason. There are exceptions, but for the most part it's because they chose not to better themselves. Why should those who choose to work hard have to carry the burden not for those who CAN'T, but for those who WON'T. The gov't wants to dip their hands into everything and get a piece of everything. They act like a family living beyond their means who keeps borrowing from relatives and their friends. The only difference is they do it with force or with empty promises. Pelosi, Reid, and Obama need to keep their noses out of our pockets, out of our faith, and out of the private sector. Their job is to make sure we don't kill ourselves and no one kills us. That's a broad way of saying their jobs are to enforce the laws and that's about it. If the White House hired in an efficiency expert I bet they could cut thousands of unnecessary jobs and streamline the gov't to run more smoothly and chop it down to size. That'll never happen though. And what good is a checks and balances system if every one is scratching each others back. I think, however, this is just a sign of the approaching times. Most of us know we can't fight a one world economy, religion, and gov't. But that doesn't mean we lay down and let it win. In the meantime, we need to recognize that these politicians are out for themselves and their buddies in power. They want to rule over people and they could care less what the costs are. They just make you believe that they're doing it FOR you, but people don't realize that gaining some benefits will end up costing EVERYTHING in the end. If you think you want the gov't to run GM and Health Care and maybe even the news (that's the scary one), I say to you. Go to the DMV and remember it is gov't run. Think about waiting in line for an hour (just to tell them what you are there for) and then waiting another hour for what you are actually there for. Think about how bad that sucks, then think about it with: the flu, a sick child, a broken leg or arm, nausea, whatever. Then think about how not everyone has to go to the DMV. Kids have no purpose there. But kids will be at the hospital. EVERYONE needs health care and therefore EVERYONE will use it and take advantage of it. Do you know, that sometimes people call 911 just to talk? Or to ask directions? Why not? it's free. But would people call if they got charged for it? Hell no! Will a person go to the doctor, give a copay, miss work, just for a mild cold? No, not likely. But what if it's free? What if the gov't says you get to miss work with pay to go see a doctor? Would you? Depends on who you are and your ethics and morals and common sense. It's a guaranteed lose-lose for everyone involved. Everyone except the three stooges in charge.
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