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Tuesday, December 8, 2009

Pelosi Endorses ‘Global’ Tax on Stocks, Bonds, and other Financial Transactions

House Speaker Nancy Pelosi (D-Calif.) endorsed the idea of a “global” tax on stock trades and other financial transactions, saying the estimated $150 billion in annual revenue from such a tax could be used to help fund more stimulus spending.

“I think there would be a market for it among the American people to say that we are all participating in the economic prosperity of our country, and we are all pitching in to continue that prosperity,” said Pelosi.

What a socialist idea. Since when is it my job to contribute to the economic prosperity of our country? That's not my duty as a citizen, nor should it be. She has it completely backwards. You don't force people to be stewards of their country, because people don't want to do that. They want to take care of themselves and their own. The best way to allow them to do that is for the government to get out of the way. The end result is that by individuals pursuing their own selfish interest, the economy as a whole benefits because it is a positive sum game. When you take from one and give it to another, as she calls it: chipping in, it's a zero sum game because one has to lose in order for another to gain.

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