Taxing transactions: I told you so

[reality_hammer]

We didn't have to wait long for the Democrats to make the next step in their plans to implement economic slavery.

The always odious Rep. Pete Stark (D-Insanity) leads the charge:
Today, I introduced H.R. 5783, the Investing in Our Future Act. My legislation would simply impose a small tax - of 0.005 percent - on these currency transactions.
This

Comments

[m_fallenangel]

Buh buh but: IT'S FOR OUR CHILLLLLLLLLLLLLLDREN!

[typewriterking]

I warned the center-right that if our coalition didn't implement the Tobin Tax to fund things we'd find palatable, the left would use it to fund another unrepealable entitlement.

Yeah, in this instance, I sound like Brooks or Frum (or Nixon!), but a tax that sounds like mere salami-slicing is too easy to sell to the public. They'll get it passed, and the revenue will likely benefit no one.

[myndcryme]

Heh

[graywolf44]

I have some questions:

Where does this idiot think the money raised from this "teeny weeny little tax" is actually going to come from - the banks?

How will this possibly be enforced "internationally" - does he think the Swiss or Cayman banks are going to voluntarily just fork it over?

Don't we already fund treatment/prevention plans for diseases in developing countries, or did that just suddenly stop as of Jan. 20th, 2009?

Is he really that stupid?

[reality_hammer]

He is stupid, among other things: greedy, pernicious, crazy, ... the list goes on and on!