Beware of politicians — and others — searching every which way for ways to raise revenue.
The insatiable search for more of your money is at the core of every toxic effort now under way by domestic and international officials.
Yes, the …
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Beware of politicians — and others — searching every which way for ways to raise revenue.
The insatiable search for more of your money is at the core of every toxic effort now under way by domestic and international officials.
Yes, the scope of the statement you just read is quite broad. So too, is the breath of government toxic efforts to confiscate expanding amounts of your money, wealth and other assets.
And, such government takings do not stop with your life’s last breath.
Increasingly, people sense that government seems to squeeze the life out of its citizens. While some prefer to still deny it, it is still all too true. Here’s a specific example, as floated by Sen. Tom Harkin (D- Iowa), of how government elites are actively pursuing taxing your every transaction.
In Harkins newly introduced legislation, it would start with “financial security transactions.” Why is such a transaction tax needed?
According to Harkin “… because we need revenue.” And, referring to the so-called Congressional Super Committee, Harkin says “…we need a fair balance between spending cuts and raising revenue.”
Yeah, right!
Harkin’s pitch in promotion of the transaction tax includes, “It’s one place we can go that’s not really going to hurt anyone.”
Yeah, right!
Shrewdly, Harkin attempts to insulate himself and other internationalists using domestic history that begins with, “This is not new … or novel … we had a Transaction Tax … we had one in the U.S. until 1966.”
That’s true.
But then, the verbose Iowan made what may prove to be the proverbial Freudian slip when he served up another historic truth that, “In fact, during the height of the Depression, FDR doubled the Transaction Tax.”
Oops!
In other words, the “3 basis points per transaction” tax that Harkin is touting — if installed — would soon go up.
Need more?
The rate Harkin is using, at least initially, “… is lower than the proposed EU Transaction Tax that would go into effect in 2014.”
Curiously, Harkin responds to queries about that comparison with a response that his “target base is broader” than the EU.
Oh, really?
We’ll chalk that up as another Harkin oops.
Richard is president of Olivastro Communications and founder of Citizens for Change. A professional member of the National Speakers Association, he is available pro bono for charitable fundraisers and public forums and can be reached via e-mail at RichOlivastro@gmail.com. or by phone at 1-877-RichSpeaks.