Now the Democrats are using their brains.
U.S. Democrats seek Wall Street tax in bailout plan (Via Reuters):
Democrats in the U.S. House of Representatives are pushing for a new Wall Street tax that would cover the potential costs of a $700 billion bailout being negotiated by Congress and the Bush administration.
U.S. House Speaker Nancy Pelosi, speaking to reporters after a meeting with fellow Democrats, said the fee could be assessed after five years if the non-partisan Congressional Budget Office determined taxpayers had lost money in the bailout.
“If after five years … the CBO decides that the American taxpayer has lost money in this, then there would be a fee on financial institutions,” Pelosi said, adding that she hoped the provision could be part of a final bailout deal.
Pelosi said that the Secretary of the Treasury could determine how to assess the fee.
It is a about damn time the Democrats wised up. This would ensure that the taxpayer, (i.e. you and me) would not get stuck paying the bill on this “bail out”.
I know some traders will scream about this. But, you know what I say? screw ‘em! I say, let the assholes making the big money get the tax, instead of the working class, like me, who do not even play the markets.
I am all for free markets, but I’m also for responsibility. If greed caused all this, let the damn greedy ones pay for it in taxes, instead of the average American, like me!
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