If you’ve got money, the government will find you no matter where you go. Last week House Speaker Nancy Pelosi endorsed the idea of a global tax on stock trades and other financial transactions. It’s not enough that American taxpayers have to deal with the IRS. In order for this new plan to work, all major financial centers – Asia, the EU, U.S., and U.K. – would all have to pass a similar transaction tax to avoid disadvantaging one country’s stock exchange. In effect, a global tax bureaucracy. I doubt they surveyed any investors on this.

The idea came about from the financial transactions tax (HR4191) currently before Congress which Pelosi believes would need to have global jurisdiction in order to keep U.S. investors from taking their business overseas and out of taxable reach. This is the absurd game that our government plays: We figure out ways to circumvent the arbitrary dictates of an out of control bureaucracy, and they come up with new laws and regulations in an effort to foil our ingenuity.

Meanwhile, the Democrats continue to look for new ways to fleece taxpaying wage earners whose only crime is trying to make a buck. The real crime is being perpetrated by an administration obsessed with controlling its citizens means of income. And if Pelosi has her way, we’ll be seeing government interference on a worldwide scale. It’s a crime scene only a tyrant could love.

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Tags: democrat, financial transactions, global, government, HR4191, Pelosi, taxes, theft, Tyrants 'R' Us

This entry was posted on Sunday, December 20th, 2009 at 5:35 pm and is filed under Tyrants 'R' Us. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.