“Bill Gates Backs a Robin Hood Tax” is the title of a video being distributed by the BBC. It is called the “Robin Hood tax” because it is supposedly designed to take from the rich to give to the poor.
In reality, however, the tax will affect ordinary Americans with investments in pension plans and Mutual Funds who buy and sell stocks.
Dan Mathisson of Credit Suisse analyzed the FTT proposal, which has been previously introduced in the U.S. Congress, and estimated that the costs associated with buying 500 shares of IBM for an ordinary investor would be more than 14 times higher under the tax. Simon Johnson, professor of economics at MIT and a former chief economist at the IMF, has said that a financial transaction tax “is more of a tax on regular people like you and me.”
Tim Worstall, a contributor to Forbes, points out that the European Commission has issued a 1,200 page report on the idea of a transactions tax affecting Europe that concludes it would not effectively raise any revenue because it would retard economic growth. “A financial transactions tax doesn’t actually raise any more tax revenue, it loses it,” he says. The figures show a gain of 0.1% in tax revenue because of the tax but a loss of 0.7% in tax revenue because of the decline in economic growth. “We’ve just lost 7 times more in revenue than we’ve gained.”
Ties right into this thread >>>
http://itsaboutliberty.com/index.php/topic,3686.0.htmlSure, funnel from the First World whatever money is left after the Domestic Looters are through to the Turd World and what we'll see is Global Turd World. If the UN ever acknowledged that it is Turd World gummints keeping their people pore&starvin', and that lack of money per se is not the problem, the planet would end the next day.
Then there was this >>>
October 24, 2011
Washington, DC – The U.S. House of Representatives today overwhelmingly voted against U.S. participation in the European Union’s costly emissions trading scheme (ETS) that would impose ne new emissions taxes on U.S. and other nations’ air carriers flying into and out of the EU.
The “European Union Emissions Trading Scheme Prohibition Act of 2011” (H.R. 2594) is bipartisan legislation that was introduced in the House by Transportation and Infrastructure Committee Chairman John L. Mica (R-FL), Full Committee Ranking Democrat Nick J. Rahall (D-WV), Aviation Subcommittee Chairman Tom Petri (R-WI), Aviation Subcommittee Ranking Democrat Jerry Costello (D-IL), Aviation Subcommittee Vice-Chair Chip Cravaack (R-MN), and other Members of the House. The bill passed the House overwhelmingly by voice vote.
“This appropriately named EU scheme is an arbitrary and unjust violation of international law that disadvantages U.S. air carriers, threatens U.S. aviation jobs, and could close down direct travel from many central and western U.S. airports to Europe,” Mica said. “Congress and the United States government will not support this ill-advised and illegal EU tax scheme.”
The EU decided that as of 1/2012, every ticket sold here would require an $8 tax to be turned over to it. In the interest of reducing emissions due to global climate change. Right.
Looks like the House did its job, now for the Senate.
If it's not the UN, it's the EU; if it's not them, it's the home-site marxists.
They will never, ever stop; they're like Terminators.
