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Posts Tagged ‘tax financial transactions’

As summer dwindles down with the last of picnics this Labor Day weekend, unemployment numbers continue to rise.  Whatever President Barack Hussein Obama’s stimulus package was supposed to stimulate, it obviously did not occurr in the jobs sector and led us to a recession.  

The Labor Department reported that productivity grew at a 6.6% annual rate in the second quarter http://www.bls.gov/news.release/prod2.nr0.htm.  People are working hard in America as they have always done, even with the government’s debt projections well into the trillions. 

The latest means of government raising revenue to fund socialism, US congressman Peter DeFazio has introduced is HR 1068 which would tax financial transactions on Wall Street to repay TARP funds.  This Act may be cited as the `Let Wall Street Pay for Wall Street’s Bailout Act of 2009′. http://thomas.loc.gov/cgi-bin/query/z?c111:H.R.1068.  with text in its entirety here at http://frwebgate.access.gpo.gov/cgi-bin/getdoc.cgi?dbname=111_cong_bills&docid=f:h1068ih.txt.pdf.

Author Les Leopold and the AFL-CIO think this is a great idea saying, “this is the best moment since the 1930s to do something about our obscene mal-distribution of wealth and our ruinous, bloated financial sector.” http://www.huffingtonpost.com/les-leopold/labor-day-special-reward_b_277094.html 

The mal-distribution of wealth?  Whoa there Robin Hood!  It is American companies and the backbone of the American worker who supported the world economies for years.  Had bureaucrats and politicians done their job to inhibit and regulate blatant failures in the oversight of Frannie and Freddie Mac, AIG, and Madoff to name a few, the American economy would not have hit this bump on the road of democracy.  Don’t even put the blame on deregulation.  There are plenty of laws and taxes on the books that need enforcement, not layer upon layer of more regulation that allowed this scam of our tax dollars to occur. 

HR 1068 is an insult to American Capitalism. A fabulous example if you are into the whole lettering writing campaign to send to you representative against this tax can be found at http://alphaguy.blogspot.com/2009/02/my-letter-to-steny-hoyer-about-hr-1068.html.

On the one hand, the government recommends you invest on Wall Street with a 401k, IRA’s, stocks and bonds for your retirement to avoid the burdened social security program and then, wants to place an additional tax upon the transaction!  Who is the thief? 

“When an American says that he loves his country, he means not only that he loves the New England hills, the prairies glistening in the sun, the wide and rising plains, the great mountains, and the sea.  He means that he loves an inner air, an inner light in which freedom lives and in which a man can draw the breath of self-respect.” wrote, Adlai Stevenson.

Recently, President Obama was asked if he believed in American Exceptionalism.  The President of the United States of America replied: “I believe in American Exceptionalism, just as I suspect the Brits believe in British Exceptionalism and the Greeks believe in Greek Exceptionalism.”

The question wasn’t about patriotism, it was about exceptionalism!  Perhaps President Obama should have been more clear by saying something like, “In the new world order, everyone and every country will be exceptional.  My socialistic, Marxist policies will make individualism and the desire to create exceptionalism cease, along with America’s global economic, military, scientific and cultural dominance.”

“Afterburner with Bill Whittle” from Pajamas TV has created this fabulous video explaining to Bill Maher and President Obama the difference between patriotism and exceptionalism.  If you click no other videos today, make this be the one. 

http://www.pjtv.com/video/Afterburner_with_Bill_Whittle/_Bill_Maher,_Barack_Obama_and_the_Truth_About_American_Exceptionalism/2378/8861/

God Bless America this Labor Day and all the days.

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