Yet another tax increase proposal (Congress, Obama, companies, financial)

[pghquest]

Tell Congress to Block the Trader Tax | James DePorre |

At this time its only a proposal, but there are 3 different taxes being proposed.

On Friday, February 13, your colleague, U.S. Congressman Peter DeFazio, introduced H.R. 1068: “Let Wall Street Pay for Wall Street's Bailout Act of 2009”, which aims to impose a 0.25% transaction tax on the “sale and purchase of financial instruments such as stock, options, and futures

Does Obama and the Democrats think this affects 5% of the population? You know, the 5% not part of Obamas 95% tax cut promise..

[ergohead]

It is a step in the right direction.

It is a Constitutionally Correct Tax.

I hope it eventually gets extended to include bond purchases and all other things sold by corporations as a replacement for Unconstitutional Taxation.

[pghquest]

Originally Posted by ergohead

It is a step in the right direction.

It is a Constitutionally Correct Tax.

I hope it eventually gets extended to include bond purchases and all other things sold by corporations as a replacement for Unconstitutional Taxation.

You do understand that this will cause people to actually lose money the minute they make a trade dont you? It will cause hundreds of companies who's primary business is trading to go out of business, tens of thousands to lose their jobs as people move their money out of the market.

And if by some chance their profitable, they again get taxed on the very same money..

as for constitutionality of the tax, I thought a sales tax was a state right not federal.. And thats what it is.. it is a sales tax..

[nrfitchett4]

Originally Posted by pghquest

Tell Congress to Block the Trader Tax | James DePorre |

At this time its only a proposal, but there are 3 different taxes being proposed.

On Friday, February 13, your colleague, U.S. Congressman Peter DeFazio, introduced H.R. 1068: “Let Wall Street Pay for Wall Street's Bailout Act of 2009”, which aims to impose a 0.25% transaction tax on the “sale and purchase of financial instruments such as stock, options, and futures

Does Obama and the Democrats think this affects 5% of the population? You know, the 5% not part of Obamas 95% tax cut promise..

wonderful, another tax. I guess only 5% of the population has 401k's????

[pghquest]

Posts are very quiet on this new tax..

[nrfitchett4]

this is what the liberals want. By 2012, all our money will go to the gov't.

[nrfitchett4]

Also, I'm really liking the 100 billion to the international fund.

[HappyTexan]

Well it's not an "income tax" increase and that's all Obama promised not to raise.

Anyone who has a 401K will get hit..you've lost money the minute you buy or sell and this would be on top of commissions you already pay.

Bits and pieces...oh we're gonna pay for it alright.

[pghquest]

Originally Posted by HappyTexan

Well it's not an "income tax" increase and that's all Obama promised not to raise.

Actually no its not, he promised

"not one single cent" in new taxes.. but lets not hijack my own thread to debate that..

[nevergoingback]

Originally Posted by ergohead

It is a step in the right direction.

It is a Constitutionally Correct Tax.

I hope it eventually gets extended to include bond purchases and all other things sold by corporations as a replacement for Unconstitutional Taxation.

I missed the part where it said that this would be replacing a different kind of tax. This looks to be on top of the taxes already in place.