Pelosi wants to tax the world

[slackjawed]

Va I have to respectfully agree we have a difference of opinion.
here is the bill;
Congressman Peter DeFazio - DEFAZIO INTRODUCES LEGISLATION INVOKING WALL STREET 'TRANSACTION TAX'

the link in my op has pelosi's comments.

Whats not to believe? These power hungry idiots are making no secret about their desire to institute a world government............

 

[Care4all]

It is a global economy.

We have no authority or power to tax GLOBALLY. Further slap tariffs on our trading partners and guess what? They return the favor.

When foreigners decide to buy something in our country, no matter the State they are in, are subject to pay the taxes on the item as well....they pay for sales taxes....they pay the federal and state gas taxes when they buy gas, they pay the State hotel taxes when the bill comes for their stay and they pay the liquor taxes if they buy liquor...etc etc etc.

What makes it different with paying a tax on what they buy or sell in derivatives?

Not that I am for this proposal....I haven't read all the details yet to be supportive of it....but the gist of what I am asking is why would it not be okay to tax even foreigners on these stock market trades, when it is a widget, they ARE BUYING or Selling? Why would it be any different than them buying gas here or liquor here?

care

 

[slackjawed]

It is a global economy.

We have no authority or power to tax GLOBALLY. Further slap tariffs on our trading partners and guess what? They return the favor.

When foreigners decide to buy something in our country, no matter the State they are in, are subject to pay the taxes on the item as well....they pay for sales taxes....they pay the federal and state gas taxes when they buy gas, they pay the State hotel taxes when the bill comes for their stay and they pay the liquor taxes if they buy liquor...etc etc etc.

What makes it different with paying a tax on what they buy or sell in derivatives?

Not that I am for this proposal....I haven't read all the details yet to be supportive of it....but the gist of what I am asking is why would it not be okay to tax even foreigners on these stock market trades, when it is a widget, they ARE BUYING or Selling? Why would it be any different than them buying gas here or liquor here?

care

The bill looks like it taxes sales of securities, not just derivitives, even if they take place in other countries.
Presently if I buy gas in mexico I pay mexican taxes. It looks like this would be a tax paid to the mexican govt if the gas was refined in mexico and bought in the us.

 

[Wry Catcher]

As an aside....does anyone else think it might be a good idea to "tax the world" to help offset the costs of being the "world's police"?

.

So the world pays and our kids get to take the brunt of the worlds violence? And, btw, we can't even police our own nation. Local government is broke, cops are layed off and the criminals out gun us.

 

[VaYank5150]

Va I have to respectfully agree we have a difference of opinion.
here is the bill;
Congressman Peter DeFazio - DEFAZIO INTRODUCES LEGISLATION INVOKING WALL STREET 'TRANSACTION TAX'

the link in my op has pelosi's comments.

Whats not to believe? These power hungry idiots are making no secret about their desire to institute a world government............

While I agree that there are some bills that are "out there"....how do you translate this into "power hunger"?

 

[xsited1]

and make taxes on securities "global"

CNSNews.com - Pelosi Endorses ‘Global’ Tax on Stocks, Bonds, and other Financial Transactions

House Speaker Nancy Pelosi (D-Calif.) endorsed the idea of a “global” tax on stock trades and other financial transactions, saying the estimated $150 billion in annual revenue from such a tax could be used to help fund more stimulus spending


What do we do tonight brain? welll...........Let's tax the world......
Pinky (of pinky and the brain) was smarter than this idiot that the bay area elected.
What does that say about them?

Oh great! The first stimulus worked so well! Here's the reality of it (from the link):

The transaction tax proposal was met with opposition from some House Democrats, who signed a “Dear Colleague” letter outlining their opposition to the tax and urging other members of Congress to join them.

“A $150 billion tax on financial transactions will fall on millions of hardworking Americans who are saving for their future through their 401k plans, mutual funds, pensions and other savings vehicles,” wrote Reps. Michael McMahon (D-N.Y.), Carolyn Maloney (D-N.Y.), and Debbie Halvorson (D-Ill.) in the letter, which is still being circulated on Capitol Hill, a copy of which was obtained by CNSNews.com.

“Supporters of the proposal promote it as a way to make Wall Street pay for economic stimulus, because it would apply only to stocks, futures, forwards and derivatives,” the letter states.

“In reality, it would be a tax on all investment and savings vehicles because mutual funds and money market fund transactions are, by definition, purchases and sales of securities and bonds,” it added.

The three Democrats said that the American version of the proposal would not exempt middle class Americans, as it claims to do, because while the tax would be paid by major stock brokers, those brokers would pass the cost down to everyday investors, pension, and retirement funds.

 

[slackjawed]

Va I have to respectfully agree we have a difference of opinion.
here is the bill;
Congressman Peter DeFazio - DEFAZIO INTRODUCES LEGISLATION INVOKING WALL STREET 'TRANSACTION TAX'

the link in my op has pelosi's comments.

Whats not to believe? These power hungry idiots are making no secret about their desire to institute a world government............

While I agree that there are some bills that are "out there"....how do you translate this into "power hunger"?

It looks to me if this bill could be passed, and establish some type of authority to collect this tax globally, it would be a short step to claim global authority over other aspects of life as well. It also stands to reason that if we set this precedent, other countries would follow suit. I can see this getting so out of hand that people world-wide might be clamoring for a world government to stop the confusion and expense of paying taxes to every country on the planet.
New world order conspiracy I know, but sometimes the paranoid have every reason to be paranoid because it might just be true.

 

[Wry Catcher]

Deflect all you wish, but the fact is a global tax is being considered.
World peace first, global tax next | Thinking Right with Jim Wooten
Rep. Peter DeFazio (D-Ore.) has introduced legislation to levy a tax on all stock and related financial transactions, including futures contracts and options. The levy would start small, as they always do, at one quarter of one percent. As proposed, the levy would give Congress another $150 billion per year in spending money.

At least we could make the rest of the world pay. Tax tax tax, tax and bomb, hell of an idea-how much can we extort from Afghanistan? We could make them pay to bomb them.

"you guys" voted to cut income taxes - making them more regressive - and invaded and occupied Iraq at a cost of $ billions each month since 2003. The cost in lives, treasure and future interest on this unfunded war is obscene.
A small tax on each sale or purchase of stock makes sense. It may reduce the volume of trades made by day traders, helping to stabalize the market and raise revenue to reduce the public dept. Allowing the Bush tax cuts to sunset makes sense too.
"you guys" who call yourselves conservative don't get it; you want your cake and to eat it too.

I get it, we can pay taxes to every country in the world, after we set this precedent.
That is ok by you. Taxation without representation is ok by wrycatcher because his democrap party is for it.
Partisan bullshit is killing this country.
The fact of the matter is that the "you guys" that voted to go to Iraq was both parties, the vote was very bipartisan.
Will the vote to tax the world be bipartisan as well?
Be careful when setting new precedents to trap your political opposition, history has shown that those same tactics can and will be used against you.

First, read your second and third paragraphs - then seriously wonder why anyone would consider you credible.
Second, it wasn't all Democrats who voted for the war, and certainly not me. It was Cheney, Rice, Powell and others (see who singed the PNAC for the others) who beat the drums of war on Iraq for months in late 2002 and early 2003. Many Democrats lacked the guts to speak out, but not all of them. I'm not even sure every Republican voted to give Bush authority to engage Iraq (though if they voted in lock-step I'd not be surprised).
Finally, we are represented, your suggestion that we are not is either extreme hyperbole or extreme ignorance - allthough if you don't understand my first sentence it maybe something different altogether.

 

[DiamondDave]

jesus these people are stupid.

end the wars, remove all the crap that is currently called "defense spending" that has 0 to do with defense, end the entitlement programs, pay back the debt, then you have no need for 95% of the taxes.

There is so much wrong with such simple thinking I hardly know where to begin.
End the wars: How? We have become the police force for the world (thank you GWB). What are the consequences of leaving Iraq and Afghanistan in a power vacuum?

Remove all the Crap...that has zero to do with defense: Sure, every state in our union counts on DOD for jobs, building weapon systems that have less to do with defense and more to do with the reelection of the local congressperson or US Senator.

Which "entitlement programs" will you cut off? SSI & SS? Medicare? Subsides to big pharma, big farma and the oil cartel? Sure, any congressperson or senator who votes to do away with such perks will have a well funded opppoinent in a NY minute.

Oh, and where did you find the 95% figure?

You fucking leftist buffoon

Noooooooooooooo... Clinton (who was before GWB) did NOT use the military as a world police force... It is ALL attributed to GWB... more BDS BS

Noooo.. offensive weapons and weapons research (even ones that fail and we learn lessons from) give us NO advantage...



And why not start with all the unconstitutional entitlement programs we have in plain view??... going back to the intent of what this country was set up to be and going back to the way of limited government involvement as we were set up to have

 

[Claudette]

Oh yeah. Pelosi and her Possee are all about taxation. Spread that wealth baby. Take if from those that earned it and give it to those that didn't.

She owns a vinyard in Cali. The vinyard is valued at between 5 and 27 million. Guess which amount she pays taxes on??

 

[Care4all]

Ok, I finally read the article, which lead me to reading the bill....Search Results - THOMAS (Library of Congress)

The tax was proposed by the British to be world wide, so that no country in the G8 or the G20 would have an advantage over another country.... Pelosi believes this part is essential for it to work....so that people investing in the usa would not run to another country to trade, to avoid such tax...and only if all countries involved applied this tax, would she be for it....Which DOES make sense, IF you are for the tax in the first place. In other words applying this kind of tax in the USA only, would chase Americans in to other markets to avoid such tax.

Secondly, this precise tax was utilized during the great depression only double the normal amount instituted in 1914, to fund jobs, and ended in 1966, this new tax would be implemented in the same manner. This is not a new idea of Pelosi's but an OLD tax of the past that was created previously.

(10) The United States had a transfer tax from 1914 to 1966. The Revenue Act of 1914 (Act of Oct. 22, 1914 (ch. 331, 38 Stat. 745)) levied a 0.2 percent tax on all sales or transfers of stock. In 1932, Congress more than doubled the tax to help financial recovery and job creation during the Great Depression.

Third, the Democrats that wrote a letter disagreeing with this tax because they say it will affect all stock transactions including those transactions in 401k retirement accounts and other IRA accounts, ARE WRONG. The Bill specifically states that all retirement transactions are EXEMPT FROM THIS TAX.

`(b) Exception for Retirement Accounts, etc- No tax shall be imposed under subsection (a) with respect to any stock contract, futures contract, swaps contract, credit default swap, or options contract which is held in any plan, account, or arrangement described in section 220, 223, 401(a), 403(a), 403(b), 408, 408A, 529, or 530.

`(c) Exception for Interests in Mutual Funds- No tax shall be imposed under subsection (a) with respect to the purchase or sale of any interest in a regulated investment company (as defined in section 851) or of any derivative of such an interest.

Also, the bill states that the money from this tax CAN NOT go in to the general budget to be spent willy nilly and that 1/2 of the money collected from this tax is to be used ro reduce the deficit....the other half to create middle class jobs. (yes, this is debatable)

(11) Half the revenue generated by this transaction tax will be used to directly reduce the deficit.

(12) Half of the revenue generated by this transaction tax will deposited in a Job Creation Reserve to fund the creation of good paying jobs and put Americans back to work rebuilding our Nation.

 

[slackjawed]

Oh yeah. Pelosi and her Possee are all about taxation. Spread that wealth baby. Take if from those that earned it and give it to those that didn't.

She owns a vinyard in Cali. The vinyard is valued at between 5 and 27 million. Guess which amount she pays taxes on??

And take a guess who passed a bill to 'save' the pacific smelt, cutting off irrigation water to the north central valley. Take another guess who got an exemtion, you guessed it, for irrigation from the napa river, the river that supposedly is suffering the greatest loss of the highly important smelt.
wait for it, wait wait- pelosi.
the rest of california is a dust bowl, but her winery (Hall's Vinyards) still gets irrigation water from the napa river.

BBC NEWS | Americas | Perfect Storm: California's 'Dust Bowl'

 

[namvet]

she turned her own state into a dust bowl. why not the world ????

 

[slackjawed]

she turned her own state into a dust bowl. why not the world ????

thats next

 

[editec]

I'm of two minds on this question.

On one had is is absurd that a kid buying a candy bar in NYC pays taxes on it, while a Wall street master of the universe trades buys and sells billions daily without paying a sales tax.

OTOH, this is, I believe the wrong approach to tax the investor class in this way.

By charging a quarter point in such a deal a whole lot of trades that probably should happen, aren't gonna happen.

PLUS, unless the whole world (all all its markets) impose the same tax on trades, imposing this tax on trades happening in the USA will encourage trading to go offshore.

I think, unless the world markets agree to do the same, this would be a very foolish thing to do, and I don't really think it's such a good idea, anyway.

If we want to find new tax revenues, the better averue is to tax the individual via our progressive income tax system.

 

[Claudette]

Thanks Slack. Didn't know she got an exemption.

So the farmers loose their livilihood and good farmland gets turned into a desert but she get water for her Vinyard?? Kinda funny how that works. Wheres the fucking EPA and how come its not all over her ass??? Farmers should take this crap to court. I sure would. Kinda wonder why her sorry ass isn't voted out. What a peice of work she is. Flamming idiot, thats Pelosi.

 

[slackjawed]

Thanks Slack. Didn't know she got an exemption.

So the farmers loose their livilihood and good farmland gets turned into a desert but she get water for her Vinyard?? Kinda funny how that works. Wheres the fucking EPA and how come its not all over her ass??? Farmers should take this crap to court. I sure would. Kinda wonder why her sorry ass isn't voted out. What a peice of work she is. Flamming idiot, thats Pelosi.

I will let you in on something else. The vinyards in napa are exempted from epa rules as well. A lot of them are 'polluted' from fertilizers. Cleanup is not required because it would require ripping out the vines. When vines are ripped out, a big epa subsidized cleanup is usually performed. Don't get me wrong, the owner still pays, just not all of it. Sometimes this means there is a big partially publicly funded hole in the ground that gets turned into a man-made cave to age the wine in.

 

[Alvin]

Whats not to believe? These power hungry idiots are making no secret about their desire to institute a world government............

"Global" in this instance [ame="http://www.youtube.com/watch?v=G2y8Sx4B2Sk&feature=related"]doesn't mean what you think it means.[/ame]

 

[Immanuel]

Also, the bill states that the money from this tax CAN NOT go in to the general budget to be spent willy nilly and that 1/2 of the money collected from this tax is to be used ro reduce the deficit....the other half to create middle class jobs. (yes, this is debatable)

Haven't we heard that before from both Democrats and Republicans?

Immie

 

[Care4all]

Also, the bill states that the money from this tax CAN NOT go in to the general budget to be spent willy nilly and that 1/2 of the money collected from this tax is to be used ro reduce the deficit....the other half to create middle class jobs. (yes, this is debatable)

Haven't we heard that before from both Democrats and Republicans?

Immie

good afternoon immie,
I haven't seen it in ANY LEGISLATION that has passed the senate and the house, so no, I haven't seen it before....and more than likely this bill will not pass muster either.

there have been lock box proposals, but none have ever been voted on or passed a vote in the yea category for both the house and senate.

care