Theodore's World: Insane Democrat Rep. Pete Stark Wants To TAX YOUR MONEY

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July 22, 2010

Insane Democrat Rep. Pete Stark Wants To TAX YOUR MONEY

Currency tax: A way to invest in our future (Rep. Pete Stark)

The Hill

Each day, $4 trillion dollars of currency are traded. For international businesses and travelers, trading dollars for other currencies serve a legitimate purpose.

Today, I introduced H.R. 5783, the Investing in Our Future Act. My legislation would simply impose a small tax — of 0.005 percent — on these currency transactions. The money raised would be put toward investments in children, global health and climate change mitigation.

For the average person or business, this small tax will hardly be noticed. But, due to the extreme speculation that takes place, it would raise significant funds. Studies estimate a worldwide 0.005 percent tax on dollar transactions would raise $28 billion a year and reduce currency speculation by 14 percent.

Here at home, the funds from this fee would be used to improve the quality and affordability of child care. This funding would provide more child care options, so working families can obtain the quality care their children need to begin school ready to learn.

Internationally, the bill would create a U.S. fund to assist developing countries with the impacts of global warming. At the United Nations Climate Change Conference in December, President Obama pledged to fund our country's commitment to mitigating the effects of climate change. This bill would make that promise real.

Finally, the legislation would create a Global Health Trust Fund to fight HIV/AIDS, Malaria, Tuberculosis and other diseases that kill millions of people each year in developing nations. This money will fund treatments and prevention for these diseases, as well as research aimed at eradicating them altogether.

Pete justifies the tax by saying it’s so small we’d hardly notice it. And besides, the money would provide more child care options , create a fund to help OTHER COUNTRIES with the impact of global warming (are you fuming yet?) and create a fund to fight AIDS and other diseases IN OTHER COUNTRIES.


Wild Thing's comment.......

He wants to tax money. And don't you just love the way he says..." this small tax will hardly be noticed".

Posted by Wild Thing at July 22, 2010 05:47 AM


There is no end.

There are no limits to the confiscatory taxing schemes conjured up by this most despicable, vile, loathsome, demented, menacing, sinister, villainous, evil mind set of elitist collectivist central planners ever assembled in Washington so hell bent on destroying the private sector.

We have a diminishing private sector because of an increasing tax burden that is unsustainable. We will not get out of this recession until the private sector expands.

All of our prosperity comes from the private sector.

It is the private sector that creates, produces, and manufactures everything.

It is the productive, results oriented private sector and its risk takers that provide for everything, including the comfortable lives of these risk free central planners in Washington with so much time on their hands to think up these crazy schemes that produce nothing but more of them.

This is government run amok.

This must, and will end soon.

Posted by: Carlos at July 22, 2010 08:25 AM

Insanity. The next thing you know, the Dems will come up with a scheme to tax our taxes.

Taxes are killing private enterprise. America has one of the highest corporate taxes in the world. That is one of the main reasons our jobs have gone overseas. I would much rather a bunch of our politicians would relocate overseas than our jobs and businesses.

Posted by: TomR,armed in Texas at July 22, 2010 10:35 AM

You just mentioned,Carlos, everything obama hates about this country.

Maybe if they lowered taxes, there wouldn't be a need for so much Day care and one of the parents could stay home.

Second, why are we taking care of the Worlds Hiv/Aids problem. Surely this .005 % isn't enough, a paltry 25 Million bucks give or take change. And in 1913, they said the same thing about the Income Tax only 6 % on the Real, real Wealthy. By 1920 that rate was almost 75% and almost everybody was paying for it. Hence the first depresson of the 20's.

Fortney Pete Stark now it is clear why all these 'Geniuses' go to the these Ivy League Schools, they just give degrees away. Old Fortney is an Electrical Engineer. One would think with a degree from MIT he'd be able to think outside the box, but then again He is Fortney Pete Stark(D-umb) and arrogant.

Posted by: Mark at July 22, 2010 12:41 PM

Hey Stark............FUCK YOU!

Posted by: Eddie (Proud Cracker) at July 22, 2010 03:45 PM

Uh, Pete... Have you cleared this proposal with George Soros??

Posted by: rickn8or at July 24, 2010 12:59 AM