http://www.elitetrader.com/vb/showthread.php?s=&threadid=150546 If anyone wants you can join us at this thread on ET ,we have been discussing this tax since it came out at the begining of the year ,we are active and people find very good articles on there. We have been also discussing pelosi since she came out yesterday with talk on this tax as well as the cnbc interview today. The good thing about todays interview for once on cnbc, is the women for the tax was stuttering to get her point accross and could barely give information on it. The gentleman who was against the tax was very knowledgeable and saud how it would affect main street which is important. I contacting all my representatives, I never mention how bad it would be for us as traders, I do a little , but I focus on how this hurts mainstreet. Thats what they care about, they could care less about us. Plus Larry Kudlow and Trish Ragan were against the tax, unlike Erin Burnett who usually does these interviews.
I wouldn't worry about a global tax. Consider the following scenario (just as plausible as any of the others thrown out here): Suppose the major countries agree to it. They then spend 2 or 3 years developing the plan, and just as they get to the finish line, each country has the same epiphany: "If we pull our signature at the last minute and everyone else signs, then we instantly become the financial powerhouse of the world". That's all it would take is one country -- Canada, Switzerland, Japan, U.S., Germany, whoever -- just one. What about all the other countries that nobody is talking about -- Australia, South Korea, Russia? What about India and China? If a tax is passed, now all of sudden any one of these countries that hasn't signed on has the opportunity to instantly rise on the global stage. The tax truly has to be global to succeed.
That's probably how it will end up, if at all. That's why he's in such a hurry to cram all of this lousy, power hungry control legislation down our throats. However, he can do MASSIVE DAMAGE in only one term.. Maybe we'll get a break... the Birthers will somehow reveal publicly his official citizenship records and he'll be disqualified as President.... then all of the legislation he signed will become null and void.
"Instead of crying and complaining incessantly on message boards you people need to get off your asses and do something about it. Instead of wanking on message boards to no avail and deaf ears which accomplishes zilch." Already there friend. Already have and am doing that, not merely posting on message boards. But the response of underestimating (naive) non-supporters of the tax, of "dont worry it'll never happen!" is a real factor. In fact, the voice of history shows this is EXACTLY how it happens. People count votes, assume it cannot happen, and later it passes and in disbelief people realize it was closer than they thought but by then it is far to late. Again, the risk is not so much only from supporters of the tax, but from APATHETIC or worse, skeptical types opposed to it that assume "it simply is not realistic" that it COULD pass, etc. that is the real bogey man. Over and over on ET, we inch closer to this madness, and folks just scoff and point to Schumer, Geithner, etc. and assume it cannot possibly become reality. Unless you have been living under a rock, or cannot examine the Great Depression and the unconstitutional pap resulting from populism misplaced, you are overly optimistic. They have already passed a Union rape of bondholders that was unthinkable, too. They already passed the house and await the senate on a health care bill WITH a Public Option AND penalties (fines) and imprisonment. They already have effectively nationalized banks and are now trying to set pay levels for executives, are trying to pass sweeping financial regulations with unprecedented powers, etc. Cap and trade to boot. Underestimating these Globalist elites is a serious, perhaps fatal, error. It CAN happen. Fast. And then it will be too late to reverse.
I have a better idea. After they are voted out, don't allow them to walk into lucrative jobs and in some cases outfit them in a fresh coat of tar and feathers. Then the people we do campaign for might stay the promised course that gets them elected in the first place. They have forgotten who the servants are. The way they are acting now, it almost seems like they don't care if they get re-elected. I wonder what promises have been made to obtain votes against the will of the people.