{"id":1285,"date":"2009-10-13T10:04:53","date_gmt":"2009-10-13T14:04:53","guid":{"rendered":"http:\/\/cfif.org\/v\/freedom_line_blog\/?p=1285"},"modified":"2009-10-13T10:22:21","modified_gmt":"2009-10-13T14:22:21","slug":"democrats-and-big-labor-seek-to-tax-financial-transactions","status":"publish","type":"post","link":"https:\/\/cfif.org\/v\/freedom_line_blog\/1285\/democrats-and-big-labor-seek-to-tax-financial-transactions\/","title":{"rendered":"Democrats and Big Labor Seek to Tax Financial Transactions"},"content":{"rendered":"<p>It is straightforward logic that taxes discourage production and investment.\u00a0 But judging by their latest bright <a href=\"http:\/\/online.wsj.com\/article\/SB125512957855977163.html#mod=todays_us_money_and_investing\" target=\"_blank\">idea to tax\u00a0financial transactions<\/a>, Democrats such as Barney Frank and their Big Labor overlords either don&#8217;t understand this or simply don&#8217;t care.<\/p>\n<p>Fresh off a worldwide crisis from which it hasn&#8217;t even yet recovered,\u00a0the financial industry is hardly the sector that tax-hungry liberals should attempt to further cripple.\u00a0 This is particularly true in an era when market participants can relocate operations almost anywhere in the world, as the past decade&#8217;s out-migration from the United States has shown.\u00a0 Ignoring this, liberals are now proposing a tax of 0.1% to 0.25% on almost every form of financial transaction.\u00a0 So how exactly is this supposed to help America&#8217;s financial industry recover?<\/p>\n<p>Worse, the proceeds would be directed toward (you guessed it) ObamaCare or more futile &#8220;stimulus&#8221; spending, despite warnings from economists about the negative consequences for markets.\u00a0 &#8220;I was one of the ones who suggested the idea,&#8221; says Congressman Frank.<\/p>\n<p>Which, come to think of it, is almost argument enough for any sane person to oppose this bizarre new proposed tax-grab.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>It is straightforward logic that taxes discourage production and investment.\u00a0 But judging by their latest bright idea to tax\u00a0financial transactions, Democrats such as Barney Frank and their Big Labor overlords either don&#8217;t understand this or simply don&#8217;t care. Fresh off a worldwide crisis from which it hasn&#8217;t even yet recovered,\u00a0the financial industry is hardly the [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[164,179,71],"class_list":["post-1285","post","type-post","status-publish","format-standard","hentry","category-posts","tag-barney-frank","tag-stimulus","tag-taxes"],"_links":{"self":[{"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/posts\/1285","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/comments?post=1285"}],"version-history":[{"count":2,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/posts\/1285\/revisions"}],"predecessor-version":[{"id":1290,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/posts\/1285\/revisions\/1290"}],"wp:attachment":[{"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/media?parent=1285"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/categories?post=1285"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/tags?post=1285"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}