Tax Wall Street tax. A tax rate of 3/100ths of one percent of any trading done by Wall Street. That works out to a paltry 3 pennies on every $100 worth of trading. Seems like chump change except the article insists the tax will stuff between $700 billion and $1.2 trillion bucks into the National Treasury over the next 10 years. The article goes on to claim it will amount to about a dollar a year more for anyone who has a 401K retirement type fund that uses investments to grow the fund. The real pockets picked will be the traders who use computers to flash money back and forth to each other.
I say go for it. Smarter people than I are for it. Warren Buffet, one of my favorite rich guys, is for it. So are several economic heavy weights. The problem as I see it is that it is a tax and worst of all it comes from the evil Democrats. Those two things will surely cause it to fail as Republicans are unable/unwilling to consider any form of governance that is initiated as a tax or comes from their hated opponents from across the aisle. All they want to do is pass useless empty gestures like re-affirming our national motto - "In God We trust". Apparently it is more important to make sure Obama knows what our motto is than to actually govern.
In the meantime, Morning Joe just stated that he has been hearing more and more from his conservative connections that many would rather lose to Obama than support Mitt Romney. I was wondering why the less than zero candidate Herman Cain was doing so well. Now I know. They are staying on their side of the ideological line come Hell or high water. In the meantime, the country limps down the drain.
So to you, the leaders of the Republican and Tea Party clown complex, I bestow on all of you, my bonehead award for this week and retroactively every previous week for the last 100 or or so. And just to save myself some trouble, consider the bonehead award yours for the foreseeable future. You are doing way more damage than good to this country.
When you stop acting like pouting children and act like adults, maybe I will re-visit my decision. But you have a long way to go before I will think kindly of you again.