World Tribune
10/12/2011
Based on a column by Cliff Kincaid for Accuracy in Media
Jumping on the anti-Wall Street media bandwagon, Josh Boak of Politico says Democratic Rep. Peter DeFazio’s measure to tax Wall Street has “newfound momentum.” The Soros-funded Think Progress blog quickly jumped on the report, saying the plan is being seriously considered on the Hill. There is only one problem: DeFazio hasn’t introduced any such bill in the current Congress.
Despite the hype from Politico, the issue is a real one. And the threat is not only a “Wall Street financial transactions tax” that could affect ordinary investors but a global tax to finance various international agencies and causes.
It’s just a “tiny tax,” say proponents, that has the support of billionaire Bill Gates and can generate $100 billion a year. A global tax on financial transactions could generate at least $700 billion a year from the U.S. and other “rich” countries.
One of the groups pushing the tax is National Nurses United, whose Massachusetts affiliate is already putting its political muscle behind radical Massachusetts Democratic Senate candidate Elizabeth Warren. Her speech to the Massachusetts Nurses Association convention was given in front of posters saying, “RNs say Heal America. Tax Wall Street.” …
…The Boak story has all the earmarks of a plant by the Institute for Policy Studies (IPS), a Marxist group pushing the tax. IPS held a seminar on the topic at the recent Take Back the American Dream conference in Washington, D.C. It was announced there that a nurses union would be staging a “D.C. action” on November 3 during the G-20 summit being held in France.
Indeed, this is the next phase of “Occupy Wall Street” — a carefully orchestrated attempt to make it seem like people all around the world are clamoring for a tax on Wall Street. Here, National Nurses United (NNU) is leading the charge and will hold its “major action” in front of the U.S. Treasury Department in Washington, D.C. on November 3…
…The effort cannot be dismissed. On the international level, a group called “Make Finance Work for the People and the Planet” boasts 1,000 signatures of economists on a petition for the “Robin Hood tax.”…
Read the entire article at WorldTribune.com
Related: From the Ayn Rand Center, Don’t be confused by the Occupy Wall Street protesters
