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Liberals actually believe the above comments. Shocking, yet true.
Can anyone imagine how fast all the wealth in the US would leave the nation if this notion was even proposed in a serious manner?
Not fast at all. History speaks for itself. Wealth didn't leave the US when the 1960s minimum wage was around $10 per hour in today's dollars, and when the same exact tax I'm talking about was on the books for 50 years, plus derivatives were banned during that time as well and somehow we enjoyed the most prosperous times back then. We need to tax all the derivatives we can get our hands on. Why is it all of you on the fringe right are so scared and unwilling to make any changes except ones that cause us to lurch backwards?
Ellison is another one of those unenlightened mainstream liberals that don't know much about anything. I'm not proposing anything near a wealth tax, and such a tax is highly destructive, IMO, and I am wholly against it. What I'm proposing is a sales tax on Wall St. transactions, with the money rebated to everyone that earns less than one million dollars a year. That way you don't hurt people modestly trading for their retirement. In other words, Joe Six Pack doesn't pay; Warren Buffet, Jamie Dimon, Lloyd Blankfein do. The sales tax also mostly goes after high frequency traders. You know, computer programs at financial institutions that do millions of trades per second. The average American investor does not do one million trades a second, do they?
It all sounds so cool doesn't it ..... go after those evil Traders and the even more evil they trade for. Make the evil "Rich" pay, and help "Joe Six Pack. Thing is - none of them care about Joe Six Pack - and Warren Buffett, Bill Gates and the like are all big supporters of the Leftists .... you can bet that they are not going to be caught up in this net. This entire "war" on the top 400 individuals in the USA that hold considerable wealth is a Distraction - turn the public against these very few people and then go after the "real" money ..... what the general public holds in savings, retirement accounts, IRA's, 401K accounts. Go after a "tax" on every financial transaction - make a deposit to your account? Tax it. Credit card transaction? Tax it. Write a check? Tax it. Use Cash? Tax it. Transfer money? Tax it. Buy a stock or fund? Tax it. Sell a stock or fund? Tax it. Use a debit card? Tax it. Make a withdrawal from your account? Tax it.
It doesn't really matter what you are "proposing" - what matters is the "comprehensive" (which translates to "you have to pass the bill to see what's in it") Law will say. Do you really trust these people who pass Law that they don't read and then leave it up to an un-elected bureaucracy to write the "rules" that will define the Law nobody has a clue about? I don't.
They want a "Wealth Tax" and/or a "Transaction Tax" - a tax on each and every financial transaction that happens in the USA (notice that USA part because the Big Dogs will move their money off-shore) - there is too much "wealth" sitting in banks ...... they want it ...... they need it to not only fund the Government, but too redistribute in the interest of "Fair".
While everyone is contemplating a "Tax" for the Washington Elites that know much better than us little folks about what we should do with the money we have earned and saved ..... consider this .......
Are you invested in any kind of Mutual Fund?, and kind of Pension Fund?, any kind of ETF?, any kind of Bond Fund?, and kind of Treasury Fund? ...... almost all of 401K accounts and Pension funds deal in these trades and funds. The Government wants a piece of that ...... after all ..... it's where the Money is.
It all sounds so cool doesn't it ..... go after those evil Traders and the even more evil they trade for. Make the evil "Rich" pay, and help "Joe Six Pack. Thing is - none of them care about Joe Six Pack - and Warren Buffett, Bill Gates and the like are all big supporters of the Leftists .... you can bet that they are not going to be caught up in this net. This entire "war" on the top 400 individuals in the USA that hold considerable wealth is a Distraction - turn the public against these very few people and then go after the "real" money ..... what the general public holds in savings, retirement accounts, IRA's, 401K accounts. Go after a "tax" on every financial transaction - make a deposit to your account? Tax it. Credit card transaction? Tax it. Write a check? Tax it. Use Cash? Tax it. Transfer money? Tax it. Buy a stock or fund? Tax it. Sell a stock or fund? Tax it. Use a debit card? Tax it. Make a withdrawal from your account? Tax it.
It doesn't really matter what you are "proposing" - what matters is the "comprehensive" (which translates to "you have to pass the bill to see what's in it") Law will say. Do you really trust these people who pass Law that they don't read and then leave it up to an un-elected bureaucracy to write the "rules" that will define the Law nobody has a clue about? I don't.
They want a "Wealth Tax" and/or a "Transaction Tax" - a tax on each and every financial transaction that happens in the USA (notice that USA part because the Big Dogs will move their money off-shore) - there is too much "wealth" sitting in banks ...... they want it ...... they need it to not only fund the Government, but too redistribute in the interest of "Fair".
While everyone is contemplating a "Tax" for the Washington Elites that know much better than us little folks about what we should do with the money we have earned and saved ..... consider this .......
Are you invested in any kind of Mutual Fund?, and kind of Pension Fund?, any kind of ETF?, any kind of Bond Fund?, and kind of Treasury Fund? ...... almost all of 401K accounts and Pension funds deal in these trades and funds. The Government wants a piece of that ...... after all ..... it's where the Money is.
They won't stop there either. They will try and tax ever ATM transaction, every debit card transaction, every "action" they can. These f'ing crooks think the money is theirs not ours and have had that same attitude for a long time. Yes they will gin up the war on the evil rich game to enrage the public so they will support this crap. Just like how they rammed healthcare down our throats to save all those poor 40 million who had no insurance. Liberals either agree with it all or can't seem to understand the lies they continue to support or both.
Said the esteemed communist Keith Ellison. This is actually what all liberals believe.
“The bottom line is we’re not broke, there’s plenty of money, it’s just the government doesn’t have it,” said Rep. Keith Ellison (D-Minn.), “The government has a right, the government and the people of the United States have a right to run the programs of the United States. Health, welfare, housing – all these things.”
According to Representative Ellison, the government is not in danger of going broke; because great innovative figures such as himself can re-appropriate a 100 year old idea in an effort to take more of your money. Try to wrap your brain around this: We have an elected representative explaining that government has the “right” to any personal wealth in this nation for the sake of running programs not enumerated in any foundational document of the United States. "
I clicked on the link within the link to learn more about Obama's twisted life. Imagine my surprise, to learn it was a sales pitch for a survival food system.
I clicked on the link within the link to learn more about Obama's twisted life. Imagine my surprise, to learn it was a sales pitch for a survival food system.
( I really was not surprised)
There really is a bill introduced though.
It was introduced last year and died.
We can only hope it dies again.
Actually, the money doesn't exist physically to pay back the debt.
Our money is loaned into existance. This means that I loan you $1, you need to pay me back $2.
the problem is I loaned you only $1 in existance in this world. the second dollar doesn't exist.
So, the federal reserve LOANS money to commercial banks. Commercial banks, through fractional reserve lending, lends out more money than what is in existance.
on a 10% reserve ratio, a bank can take $1,000 and loan out $9,000 on top of that. They collect interest on all money loaned into existance.
So there is not enough principal to pay off all debt in this world because of the interest and fractional reserve lending that our money system is designed off of.
Cool clip by hedge fund manager Kyle Bass about taxing individuals and not being able to pay crap off.
Sorry, but I am a "Liberal" and I don't think that at all.
You guys really need to stop stereotyping and wouldn't sound so foolish when you speak.
If you guys would quit voting for liberals like that you wouldn't be stereotyped that way. Liberals voted him in office, presumably because they agreed with his policy ideas.
They won't stop there either. They will try and tax ever ATM transaction, every debit card transaction, every "action" they can. These f'ing crooks think the money is theirs not ours and have had that same attitude for a long time. Yes they will gin up the war on the evil rich game to enrage the public so they will support this crap. Just like how they rammed healthcare down our throats to save all those poor 40 million who had no insurance. Liberals either agree with it all or can't seem to understand the lies they continue to support or both.
A tax on debit card transactions would be regressive.
If inflation is a tax on the poor, why not just tax those who cause inflation.
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