1/4% Tax on all stock trades pushed in NY Times today

After watching the piece on Bloomberg, it is apparent that Nancy lied and he just b*tch-slapped her credibility a bit.

I especially liked this:

“I have not seen the version of that that I think works,” Geithner said in an interview on Bloomberg Television’s “Political Capital with Al Hunt,” airing this weekend. “Otherwise people would have done this a long time ago.”

 

Unfortunately you're right. Most Republicans aren't smart enough to keep their eyes on the stuff that really matters.

Sad really.

 

http://dc.streetsblog.org/2009/12/0...l-street-transportation-tax-coming-next-week/



DeFazio said earlier this month that White House economic advisers are critical of the transactions tax plan, but Politico reported today that House Speaker Nancy Pelosi (D-CA) is seeking Obama administration support for internationally imposing such fees.

 

All that's been reported is a bunch of liberal douche bag economists and unions screaming for the tax. All the while, the Obama administration, as well as Sec. Geithner have been opposed to this idiotic transaction tax all along. Republicans are currently dealing with this monstrosity called Obamacare. You know, the government rationed, socialist, universal care, leading the U.S. into bankruptcy health bill. The congressional Democrats are creating many disastrous bills that are going to absolutely ruin this country. In addition to the health care disaster, add in the transaction tax, cap & trade, etc.....
Oh, but by all means, let's blame the Republicans for not being able to keep up with royal clusterfuck the Democrats are creating. The Republicans are very aware of this transaction tax proposal, and will not allow for anything like this to happen. The only way they couldn't stop this from occurring is if Obama wants to do this internationally, which by all accounts, he doesn't want to do.

 

Yeah, and Politico also reported yesterday that Pelosi has spoken to Geithner earlier in the week, and made it sound like Geithner had changed his mind on the tax proposal. At this point, I believe absolutely nothing that Politico reports, as they are so desperate to get a lead story that they resort to making up things that aren't the least bit true.

 

Now I know another reason I hate Nazi Pelosi, it seems she was basically rebuffed this week. So now she is trying to gain steam with this tax despite geither and trying to bring it the president. She is also mor then likely gonna start pushing for the g20 to agree. She has already mentioned the g20 2 times this week. So we need to start looking at IMF statements to see if the wording starts to get a little different, and make sure you write them as I think Seaside said. I am happy about what geithner said today, but this pelosi is one bitch that if she doesnt get her way at first she wont stop till she gets it.

 

Yeah but Politco besides today is usally been very good with this stuff. Anyways I dont trust Pelosi and since she is the legislator its not very comforting anymore, I had my brief few mintues of comfort after Geithner, but now reading a lot of the articles today, she will not let this die. We shall see what kind of support it gets in the senate next week, and who supports it is important as well.

 

Disappointing to see Marketplace run a trans tax story without any sort of counter argument -- lots of people listen to this show, too:

http://marketplace.publicradio.org/display/web/2009/12/04/pm-stock-tax/

Bergin says the transaction tax would have to be closer to 1 percent to really put a dent in speculation. But, he says, taxes have a habit of rising once they're approved by Congress, so the tax could eventually pack a punch.

 

Pelosi is the one that is going to ruin this Country....Obama is surprising more GOP than anything (wall street bailouts, finally committing to more troops, etc)....It's pelosi, reid, defagio, et al.. that is gonna flush this Country down the drain.

Again, this Country was not founded on liberalism nor socialism and it has to be STOPPED!! If they don't like it, move to f*ucking Europe!!

 

I wouldn't expect this to get much support, in either the House or Senate. You know that powerful Dems. like Charles Schumer, or even Charles Rangel won't allow this. Pelosi can lobby, and cry like the whiny bitch she is to Obama all she wants, but when it comes to issues like a transaction tax, you know that Obama is going to defer to Geithner's expertise on this subject, as well as Lawrence Summers, who is Obama's top economic advisor, who also opposes the tax. Besides, who represents the U.S. at the G-20? Geithner, not Pelosi. You know that Obama must give Geithner a great deal of latitude at these meetings, while still providing Obama input.
What type of economic credentials does Pelosi have? Spending us into bankruptcy doesn't count. lol