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Politics : Just the Facts, Ma'am: A Compendium of Liberal Fiction
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From: TimF9/3/2009 5:55:49 PM
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"...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..."

thehill.com

Eat the Rich!
Well it looks like the Unions and the Democrats are out to do what they do best, that is destroy wealth. The AFL-CIO along with some Democrats want to impose a tenth of a percent tax on every stock transaction. They estimate that this could raise between $50 billion to $100 billion per year. The other “benefit” of this tax would be to discourage speculative financial activity.

What this really boils down to is the progressive left’s hatred of and desire to punish those who create wealth. I would also like to point out the apparent short-sightedness of the Unions since their pension plans are heavily invested in the stock market. But then again I’m sure that these tax revenues could be used to make up any shortfall in their pension plans that may occur.

The only investment that the Unions approve of is not in the stock market, but in the political market. For them the political market is where they have seen their greatest returns on investment. Funny how all the advertisements on talk radio want you to buy gold to protect your financial future when in reality it looks like you should be buying “blue”.

gormogons.com
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