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Posted: 8:20 a.m. Monday, Aug. 31, 2009
By Neal Boortz
The AFL-CIO has come up with a brilliant plan to reap billions of dollars ... tax evil corporation profits. The plan is to tax every stock transaction. While they call it a "small" tax (about a tenth of a percent) the tax would generate $50 billion to $100 billion a year. Policy director for the AFL-CIO, Thea Lee, says there are two reasons for imposing the new tax: raising revenue and discouraging speculative financial activity. She explains, "The big disadvantage of most taxes is that they discourage some really productive activity ... This would discourage numerous financial transactions. People flip their assets several times in an hour or a day. They make money but does it really add to the productive base of the United States?" Now, what might this money be used for? The goal would be to use the tax revenue on infrastructure projects (for unionized employees, obviously). And get this, the tax could be applied nationwide or internationally.
Question: Who should make the decision as to when to buy or sell a stock? The government? Some union hack? Hey! Here's an idea! Let the person who owns the stock decide when to sell it! And let the person with money decide when to invest! I think there's a word for that ... "freedom," I think. But then we're talking about unions, aren't we?
Government wants back in. The Democrats want the government back in. In where? To our financial institutions, that's where. Make no mistake, the looters are more than a little upset that companies like Goldman Sachs have not only repaid their loans but are now making billions in profits. That drives them wild! What in the hell are those companies and the people who invest in them doing with all of that money that we could be using to buy votes .. or that could be spent to employ union workers. Well ... since these companies and their investors have broken free and are once again thriving, let's just levy a little tax against trading in their stock.
But hold tight, my friends. You ain't seen nuttin yet. Wait until the looters propose going after your pension funds, your IRAs and your 401Ks. It just not fair that you should have a comfortable retirement when so many people are going to have to rely on the busted Social Security system.
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