CNS News "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." Now the left can't back away from this because in their twisted logic, that would be giving away money the government can't afford.
FINANCIAL TRANSACTION TAX? "A financial transaction tax would most likely start out at around 1%. If you made a $500 deposit into your savings account, $5 would go to Washington. If your employer automatically deposited you $1,845 paycheck into your account every two weeks, $18.45 would go to the federal government. That's what happens when your money goes INTO your account? But what about when it comes OUT? Well, that's another financial transaction, isn't it? Charge a $80 dinner for two to your Visa card, 80 cents to the government. Let's say your car payment is $390 per month. Every time you make that payment $3.90 goes to the government. Over 36 months this would amount to $140. Now remember .. you already paid income tax on this money ... and here comes another 1% going in, and 1% coming out."
Neal Boortz
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