Economy

00Publius Contributor - Business - Democrats/Leftists - Economy/Finances - Media Bias - News - Society/Culture - Warner Todd Huston

Here’s Some Gall: Democrats Want to Tax Wall Street

September 27, 2008 by 1 Comment

-By Warner Todd Huston

These scumbags really have gall, ya know? First we have Democrats from the Carter administration all the way up to those serving with the Obama campaign being key players in the mess that became our current economic hell and NOW they want businesses to pay for the mistakes Democrats made. Democrats have come up with the brilliant idea of taxing Wall Street to “pay back” the treasury for the bailout.

Reuters is reporting that Democratic Speaker of the House Nancy Pelosi is claiming that she wants to drag down Wall Street even further by levying confiscatory taxes on investors and investment firms if the treasury isn’t paid back in 5 years time.

“If after five years … the CBO decides that the American taxpayer has lost money in this, then there would be a fee on financial institutions,” Pelosi said, adding that she hoped the provision could be part of a final bailout deal.

So, the Democrats are responsible for causing this mess and they want someone ELSE to pay the bill? Democrats have the gall to pretend this is everyone else’s fault!

It figures. Continue reading “Here’s Some Gall: Democrats Want to Tax Wall Street”

00Publius Contributor - Business - Democrats/Leftists - Economy/Finances - Elections - GOP - Media Bias - News - President - Society/Culture - Taxes - Warner Todd Huston

Dems Bailout Proposal Redirects ‘Paulson’s Profits’ To Left-Wing Groups

September 26, 2008 by 2 Comments

-By Warner Todd Huston

Bush told the country that we are in an economic crisis and his Treasury Secretary, Henry Paulson, came up with an idea that would, it is claimed, end up actually making money for the U.S. Treasury in the long run. That’s all well and good, but the Democrats already have a plan to siphon off any repayment of the people’s money back to the treasury by adding one little line to the agreement that would end up stealing money from any repayments and giving it to left-wing political advocacy groups like ACORN, the National Urban League and the Hispanic group La Raza. Instead of trying to help the economy, the Democrats just want more money for their left-wing political constituents. It’s business as usual for the Democrats, of course, but a bigger question is will the media let them get away with it?

On Thursday, the Senate Democrats shopped around a one page “Agreement in Principle” from the U.S. Senate Banking Committee that laid out their proposal for the bailout of the economy. At first it all seems rather straight forward, but hidden inside this document is one little line that proves that Democrats aren’t as interested in the economy as they are in trying to extort a payday for their favorite political advocacy groups. Yes, even in a bill as important as the bailout the Democrats are trying to stuff it with pork!

Of course, the claim that this bailout will make money is not cut and dried. But the idea is that the bailout will put the Treasury Department in ownership of what could easily later become lucrative investments. And, at that later date, the Treasury Dept. can then begin to sell these investments off at a profit and, thence, pay back the Treasury for the bailout — in essence repaying the American people. But, the Democrats already have a plan to spend “profits” that not only do not exist yet, but may never exist. In the “Agreement in Principle” is the following line:

Continue reading “Dems Bailout Proposal Redirects ‘Paulson’s Profits’ To Left-Wing Groups”