You read that correctly, if anyone was wondering if there were still people in Congress who weren’t paying attention…You were right. Two congressmen, who are also Democrats will be introducing a Bill, that will actually create a new tax, the Transaction Tax. This proposal follows the EU model…because that has worked out so well?
Don’t worry, Sen. Tom Harkin (D-IA) and Rep. Peter Defazio (D-OR) don’t even think you will “notice”.
“It’s a significant way to raise some needed revenue,” Harkin said in an interview today in Washington. “Quite frankly, I bet nobody would even feel it.”
Always remember: When a Politician says “Revenue” they are talking about Your money. When Harkins calls it a way to raise revenue…what he means is Raise Taxes, thus he means taking more of Your money.
While this Bill is unlikely to pass as it is opposed by the Republicans, it hasn’t stopped the Dems from trying to increase taxes once again.