They Don’t Deserve That Money, Let’s Tax It
When did it become acceptable for politicians to decide how much money a company is allowed to make? When did profit become a bad word? When did our government seize the power to decide how much is too much and to tax away any profit they deem excessive?
The AFL-CIO and many Democrats are now pushing for a new tax on stock transactions. It would specifically target large firms, like Goldman Sachs. Some of these firms have recently started to make money again and now, some of it might be taken from them. The proposed tax would be very small, about a tenth of one percent on all stock transactions, so it would not have much of an impact on small time traders or the average middle class investor. It would, however, have an impact on large firms that trade a huge volume of stocks each day… and that is exactly what it is intended to do. Apparently, making a profit is wrong, and it needs to be seized by the government so they can use it for more programs and entitlements.
Thea Lee, policy director at the AFL-CIO, spoke of the proposed tax and said,
“This would discourage numerous financial transactions. People flip their assets several times in an hour or a day. They make money but does it really add to the productive base of the United States?” source – The Hill
Lee is claiming that since the profits these large firms are making do not add to the productive base of the United States (which is a false statement), they are fair game for government confiscation. Does this seem
