A thoughtful reader sent me this information about yet another attempt to create a transaction tax on trading. The stomach-turning title of this bill is Let Wall Street Pay for the Restoration of Main Street Act of 2009
Errr, if you want "Wall Street" to pay for the follies of the government, how about a confiscatory tax of all the investment bank's profits for the past 7 years? Oh, I forgot. Goldman Sachs has Obama by the balls. It'll never happen.
So the little guys – – – that's us, folks – – – are staring down another shotgun barrel. I can guarantee you that Blankfein and his clan won't be subject to this kind of thing. The least shocking bit is the mention about parties which are supporting such a tax:
The groups include: Americans for Financial Reform, Public Citizen, the Service Employees International Union (SEIU) and the AFL-CIO, among others.
