It’s obvious that Democrats are dumb as a box of rocks when it comes to the economy and how to fix it.
History has proven that to get out of a recession and fix unemployment, the solution is tax cuts.
So what do Democrats want to do, instead? TAX your investments!!
Under a bill being drafted by Democratic Reps. Peter DeFazio (Ore.) and Ed Perlmutter (Colo.), the sale and purchase of financial instruments such as stocks, options, derivatives and futures would face a 0.25 percent tax.
The bill, a copy of which was obtained by The Hill, is titled the “Let Wall Street Pay for the Restoration of Main Street Act of 2009.”
Half of the $150 billion in tax revenue would go toward reducing the deficit, while the other half would be deposited in a “Job Creation Reserve” to support new jobs.
The job fund would be available to offset the additional costs of the 2009 highway bill and other legislation that creates jobs.
The Obama administration and congressional Democrats are looking for ways to create jobs after the nation’s unemployment rate hit 10.2 percent in October and job losses are expected to rise.
I’ll bet there are some among you readers who look at this and say, “But Vilmar, it’s only .25%! What can that hurt?”
My reply to you would be to study the history of taxation in this country and show me instances where taxes, once instituted, are ever done away with (without some other tax being put in place to replace it.)
Go on. I’ll be waiting but I won’t hold my breath.
Here’s the best analogy I can come up with for Obama (mmm, mmm, mmm) and the Democrats’ solution to our predicament:
Obama and the democrats (and some RINOS) are in a high rise on the top floor.
Suddenly, a fire breaks out on the floors below them.
Obama and crew decide the best way to fight the fire is to turn off the sprinkler system and pour gasoline in all the doorways, elevators and staircases leading to their floor.
Pretty much nails it, huh?
One of the first things the socialist scoundrel Gordon Brown did when he was chief finance minister in Britain was to take £5 billion in tax from the pensions industry. The british pension industry was the envy of the world before that gormless twat got hold of it. Now it is f****ed. Since most pensions invest in the stock market it also wrecked that. Shares on the FTSE are about where they were when Brown the clown and the scumbag liar in chief Blair came to office. Socialists just don’t understand economics.