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#OccupySetup: Dems Introduce “Steal From The Rich, Give To The Poor” Tax Act

Let’s put this into some context, shall we? For nearly two months, America has watch the violence-laden, union-sponsored, carnival-like freak show of the #OccupyWallSt movement push its Neo-Communist agenda. Then, the day that union boss Richard Trumka heads over to Cannes, an #OccupyWallSt-union brigade of protesters expose the movement’s hidden agenda by announcing they will be taking their angry protests outside the Treasury Department to demand the so-called “Robin Hood Tax,” Democrats in the House and Senate introduce a bill to pass said tax:

This week, a bill was introduced that would impose a new tax on certain trading transactions in financial markets. The tax – which is aimed at the wealthy – is already being called the “Robin Hood Tax” and is part of H.R. 3313, sponsored by Rep. Peter A. DeFazio (D-OR). Twelve co-sponsors in the House have signed onto the bill so far: Rep. Earl Blumenauer (D-OR); Rep. Bruce Braley (D-IA); Rep. John Conyers, Jr. (D-MI); Rep. Donna F. Edwards (D-MD); Rep. Bob Filner (D-CA); Rep. Maurice D. Hinchey (D-NY); Rep. Mazie K. Hirono (D-Hi); Rep. Henry C. “Hank” Johnson, Jr. (D-GA); Rep. John P. Sarbanes (D-MD); Rep. Louise McIntosh Slaughter (D-NY); Rep. Betty Sutton (D-OH) and Rep. Peter Welch (D-VT). Nope, those Ds aren’t typos. All of the sponsors of the bill are Democrats.

According to the AFL-CIO blog:

The day before participants at demonstrations in Washington, D.C., Cannes, France, Los Angeles and San Francisco will call on Congress and global leaders to adopt a small “Robin Hood” tax (financial speculation tax) to create jobs, bills were introduced in the U.S. House and Senate to adopt such a tax.

Sen. Tom Harkin (D-Iowa) and Rep. Peter DeFazio (D-Ore.) introduced the Wall Street Trading and Speculators Tax Act that would assess a financial speculation tax of .03 percent. The European Commission is proposing .10 percent, on trading in stocks and bonds. In a statement this afternoon, AFL-CIO President Richard Trumka, who is in Cannes for the G-20 summit of the world’s top economies, says…

And, of course, there’s this:

This idea invoking the name of Robin has been around for awhile… October 29th is the eve of the G20 Leaders Summit in France. #Occupy originator Adbusters wants its followers to “rise up and demand that our G20 leaders immediately impose a 1 percent ROBIN HOOD tax on all financial transactions and currency trades.”

Now, if one didn’t believe in coincidences, one might be goaded into believing that the entire #OccupyWallStreet movement is nothing more than a Democrat-Union conspiracy and that a lot of people might have been set up (suckered?). And, if that’s the case, then might that not make the whole #OWS agenda not just wrong, but evil too?

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“I bring reason to your ears, and, in language as plain as ABC, hold up truth to your eyes.” Thomas Paine, December 23, 1776

Cross-posted on LaborUnionReport.com

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COMMENTS

  • sethellis

    Those advocating a tax on security transactions are clueless. Adding a tax would not remove speculation from the market. Speculation is necessary for the market to function.

    Instead, this would just widen the spreads. Market makers would have to adjust the difference between their bid and offer prices to offset the added tax. It would also reduce the amount of liquidity out there, and force it over to Asia.

    In the end it’s the average joe that gets screwed. Big banks can find ways to recover their costs. Average every day investors like you and me can’t. It’s just like any other tax on businesses. They will just pass the cost on to us.

    Luckily this is nothing more than a liberal pipe dream. It stands 0% chance of ever happening. Not even Geithner is that stupid.

  • drfredc

    Seems like this “pre-capital gains” tax is likely to just cause splintering of various transactions to financial firms out of the US. Like that’s really difficult in these internet days…

    Is this sort of stuff really supposed to help anything…? Pretty soon, the OWS folks may get their wish — they won’t have big financial to kick around anymore… It will have moved Outta Here — Leaving the OWS more time to look around for where the money tree grows…

  • Adjoran

    Read the list of sponsors closely – they are some of the certifiably stupidest people in Congress, and that is saying a lot in that den of idiots.

    Unfortunately, before posting that brief thought, I had to sit through some pop-up video ad I could not seem to turn off.

    I know the site is free, but my time is valuable, too, and if that’s the price of posting here, it is WAY too high.

    If it happens again, I know how to prevent a third occurence.

  • anxious4change

    Robin Hood did not steal from the rich to give to the poor. The ‘government’ had been taxing the little people into poverty. The Robin Hood figure was more like a Tea Party patriot, fighting against over-taxation and taking back hard-earned money which was forcefullly taken from the people — not too different from the way our government forcefully takes the hard-earned money away from the 53% in this country under the threat of criminal prosecution!

    The dems have got it all backwards, as usual.

    • skorrent1

      The very idea of a “Robin Hood TAX” perverts the whole moral of the story.

  • jaykali

    What’s the difference.

  • rulken

    This group of people have to be the absolute core, of the definition of “stupidity” ! They could not hold a coherent conversation with a fifth grader let alone any news reporter!
    They are a bunch of ignorant, ungrateful, SOBs that could use a swift kick in the ass!
    All they have accomplished to date, is making a mess of the cities parks, and breaking numerous laws in the process.
    We need to start arresting them, and fining them, to recover some of the expenses that they have imposed on us.

  • rulken

    I’m sick of the unions getting a free ride.!!
    They are also the large part of the OWS problem. The jumping on the band wagon and blowing smoke up the ass of 90% of the “dumbenstrators”. Make them accountable for these demonstrations, and make them pay the police, and fire fighters, and sanitation workers that have to be called up to these demonstrations.

    • carolina

      I think all of the public complaining and protesting is going to hasten the demise of unions. Private sector unions have made a grave mistake by aligning themselves with public sector (govt) unions. We taxpayers know that govt unions are STEALING from us!

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