You give a NY Times journalist far too much credit. He didn't even give any credit to James Tobin or John Maynard Keynes who first proposed this kind of a tax back in 1930. Instead, he lauded economist Dean Baker from the CEPR in Washington.
Again, this legislation was originally proposed in Congress by Reps DeFazio (OR) and Wellstone (MN) back in 2000 as a way to tax short-term, cross-border foreign exchange transactions to deter speculation. Some of the dumbest Reps in Congress ( such as Marcy Kaptur of Ohio) co-sponsored the bill.
Suffice to say, it lacked VOTES back then and it will lack VOTES now.
But once again, ET doesn't understand this kind of legislation.
In fact, it's practically a waste of time posting here.
I agree that it's way too early to hit the panic button on this thing, although worthy of our attention.
So far, Barack has shown himself smart enough and has been fairly centrist in his appointments. I seriously doubt he would do this, but you never know.
I agree that it's way too early to hit the panic button on this thing, although worthy of our attention.
So far, Barack has shown himself smart enough and has been fairly centrist in his appointments. I seriously doubt he would do this, but you never know.
In the Wikipedia article, there are some great hints on how Europe did NOT want the tax. If Europeans can reject a massive and destructive tax or as the UK, dillute it severely, then there should be no problem for Americans to do the same.
I guess you little pea brain doesn't remember that Clinton signed that act.
You little dems just don't get it. Truth just constantly evades you.
I'm not a registered Democrat, moron.
But like all of you idiots that can't get enough of Rush Limbaugh down in San Diego, I guess that if you keep saying it over and over again - - - it somehow becomes "true".
For what it's worth, this legislation by-passed the substantive policy committees in both the House and Senate. Thus, there were never any hearings nor opportunities for recorded committee votes. It was an omnibus bill that came from the leadership of the Republican-controlled Senate and House.
And yes, Clinton did sign the Act into law.
Was the outgoing President in a position to veto anything at that time?
You tell me.
And before you answer you might wish to brush up a bit on how legislation makes its way through the Executive Branch and into Law.
You give a NY Times journalist far too much credit. He didn't even give any credit to James Tobin or John Maynard Keynes who first proposed this kind of a tax back in 1930. Instead, he lauded economist Dean Baker from the CEPR in Washington.
Again, this legislation was originally proposed in Congress by Reps DeFazio (OR) and Wellstone (MN) back in 2000 as a way to tax short-term, cross-border foreign exchange transactions to deter speculation. Some of the dumbest Reps in Congress ( such as Marcy Kaptur of Ohio) co-sponsored the bill.
Suffice to say, it lacked VOTES back then and it will lack VOTES now.
But once again, ET doesn't understand this kind of legislation.
In fact, it's practically a waste of time posting here.
You jack-ass.
What part of "nothing new" in my original post don't you understand?
And once again, ET proves to be loaded with illiterate self-righteous jack-asses.
I agree that it's way too early to hit the panic button on this thing, although worthy of our attention.
So far, Barack has shown himself smart enough and has been fairly centrist in his appointments. I seriously doubt he would do this, but you never know.
Given the fact that Hillary Clinton is now in Obama's cabinet, and Mayor Bloomberg has been an open supporter of the President elect, along with the likes of Chuck Schumer who incidentally sits on the Senate Finance Committee and the Senate Banking Committee, its hard to see that this kind of legislation would ever make it up for a VOTE, let alone one that passes.
You would have the entire MIDWEST against such a vote, along with a very powerful lobby of New Englanders.
