In what seems like an unrelenting effort by US government and regulators to drive all US Forex transactions offshore... at least until they make that illegal too, today Pete Stark has introduced H.R. 5783 the ludicricously named, Investing In Our Future Act that will impose a tax of .005% on each currency transaction. Of course in his mind, only a few evil currency speculators will be affected, but the wealth will be spread around to solve global warming, and help children everywhere. After all, who could be against helping children?
Mr. Stark:
“Every day, there are $4 trillion worth of currency transactions,” Stark, D-Fremont, said in a news release. “The vast majority of these are speculative – banks trying to make a buck by out-guessing the system. This speculation contributed to the last Wall Street crisis and makes our financial system less stable.”
“The proceeds of a new tax on currency speculation will be used to provide billions in new funding for important global and domestic priorities. At home, this bill will give more money to affordable child care programs. Globally, it will contribute billions to climate change and world health programs,” added Stark, chairman of the House Ways and Means Health Subcommittee.
Stark’s H.R. 5783, the Investing In Our Future Act, would impose a 0.005 percent fee on the buying and selling of world currencies and on currency derivative transactions by a U.S. person, including domestic corporations, partnerships, subsidiaries of foreign corporations, and individual citizens and residents.
Among groups supporting the bill are ActionAid, Friends of the Earth, RESULTS, Health GAP (Global Access Project), Sustainable Energy and Economy Network at the Institute for Policy Studies, and Africa Action.
All prosumably organizations with their hand out looking for some wealth to be spread their way in exchange for their democrat votes.
You can contact your representative in a quick and easy way... even if you don't know who he or she is ( shame on you) at this link run by the US House of Representatives. Just enter your zip code and click the button.
https://writerep.house.gov/writerep/welcome.shtml[/URL]
Mr. Stark:
“Every day, there are $4 trillion worth of currency transactions,” Stark, D-Fremont, said in a news release. “The vast majority of these are speculative – banks trying to make a buck by out-guessing the system. This speculation contributed to the last Wall Street crisis and makes our financial system less stable.”
“The proceeds of a new tax on currency speculation will be used to provide billions in new funding for important global and domestic priorities. At home, this bill will give more money to affordable child care programs. Globally, it will contribute billions to climate change and world health programs,” added Stark, chairman of the House Ways and Means Health Subcommittee.
Stark’s H.R. 5783, the Investing In Our Future Act, would impose a 0.005 percent fee on the buying and selling of world currencies and on currency derivative transactions by a U.S. person, including domestic corporations, partnerships, subsidiaries of foreign corporations, and individual citizens and residents.
Among groups supporting the bill are ActionAid, Friends of the Earth, RESULTS, Health GAP (Global Access Project), Sustainable Energy and Economy Network at the Institute for Policy Studies, and Africa Action.
All prosumably organizations with their hand out looking for some wealth to be spread their way in exchange for their democrat votes.
You can contact your representative in a quick and easy way... even if you don't know who he or she is ( shame on you) at this link run by the US House of Representatives. Just enter your zip code and click the button.
https://writerep.house.gov/writerep/welcome.shtml[/URL]