This is absolutely correct. It takes 60 votes, unless that rarely used procedure called Reconciliation is used. The Democrats are considering using it on the health care bill. In fact, they were discussing that on CNN earlier today. It would be political suicide if the Democrats do this for health care or any other bill. I also agree that reconciliation would not be used on a vote in the Senate for a transaction tax.
http://www.niemanwatchdog.org/index.cfm?fuseaction=background.view&backgroundid=381 http://www.fair.org/blog/2009/03/10/how-many-votes-does-it-take-to-pass-a-senate-bill/ You need 60 votes to prevent a fillibuster but only 51 votes to pass a bill into law (one way is thru reconcilliation) Read and learn
In the end, none of that matters, because the Republicans will filibuster the health legislation, so the Democrats would still need 60 votes to break it. So you still need 60, unless Reconciliation is used. The Republicans can just filibuster every bill, and the Democrats would need 60 Senate votes to break the filibuster on all the bills. At the end of the day, it all amounts to basically the same thing, and that is they need 60 votes, because you know that "any" type of controversial legislation will be filibustered. It's extremely rare for the Senate to pass any meaningful bill with just 51 votes, unless reconciliation is usually involved.
Is this video hosed or is it on my end? It looks like they cut to a commercial at 0:52. I see nothing beyond that, video stays black the rest of the time(?).
u will be out of business if this tax is passed. http://www.elitetrader.com/vb/showthread.php?threadid=175217
Yes there are those people, however there is a 0% chance that they could do something like confiscate 401k's. Republicans would sweep both houses of congress and the Dems would get crushed for 20 years. They had greatly overestimated their mandate at the time confiscation was being talked about. I do agree though, that if they could get away with it, there are plenty of Dems that would take the money and run. I also believe Obama would support something like this if he knew it would fly with 50.1% of the American electorate. Unfortunately, at least 35% of your Dems today, are hardcore socialists. Some would actually be OK with instituting communism.
correct as long as u don't call it communism. america is more communist than either russia or china. you can argue the pt. but not the direction the US is headed. surveys have shown that the bill of rights could not pass in the US today if the words of bill of rights are left of it. what does that say about americans?
Thanks Sea! Is this what the Democratic party has become? Do they care more about hurting Billionaires than they do about ordinary people? This guy might just have turned me into a Republican.
Erin Burnett interviewed a trader just before the opening this AM. He was against the tax. She was saying something favorable about it if I heard right. I came right at the end. Anyone hear the interview or have a link? OldTrader