Some bone head thought he would try to get a tax on buying stock and derivatives but it’s so little it’s like buying a postage stamp for a million dollar sale. Then again everyone know that Washington insiders protect the rich. Why isn’t it more like 1% on stock purchases and 2% on derivatives and credit default swaps. All sales need to be registered so you can charge them for income tax. What I don’t understand is why there hasn’t been any taxes on these money making products. Even brokers take a cut why isn’t the government taking a cut for these sales? Why isn’t congress and senate up in arms after all we did have to bail these people out for the world mess they made.
Banks are putting up resistance to any changes or over sight, I wonder why. So they can have black market money to buy and sell things off the books. When I heard that weasel, senator Dodd laugh at how hard it is to make changes and get bills past with all the lobbyist in Washington. It’s hard to pass a bill when your on the take that’s for sure.
I heard a lecture about Black Market money and how it’s going to cause capitalism to fail. I listened to it and wondered how true it was. That Senator Dodd as the biggest obstacles to any bill that would make black market money.
What it takes is people with morals in Washington and not people only there to be on the take. They might call it campaign contributions but cash spends real well.