A Bankster Tax?

bankster imagesRep. Peter DeFazio, D-Ore.,bumped heads with Wall Street Thursday, proposing a tax on financial transactions that he said would deter high volume speculators while raising $150 billion a year that the government can use to "invest in our future, our infrastructure and our middle class.''  This is a small tax - a fraction of a penny - on every transaction.  To the average investor it's meaningless.  To the guys on Wall Street who are walking off with $400 million bonuses this Christmas, it's doom and destruction.  Because they don't make a damn thing of value, they just move money around, and do so now electronically instantly and with virtually no costs, thus their high profits.  We had this tax in the USA from the late 1930s until the 1960s and it not only generated enough money to pay for the SEC - it's original purpose - but it also put enough sand in the gears of the so-called "professional traders" that there were no bubbles and no crashes during that time on Wall Street.  It only makes sense.  And most other industrialized countries have a similar tax.  But, then, they you won't find billionaire banksters in Sweden or Norway.

Andrew Sullivan is offering his own reasons for parting with the conservative movement. He recently wrote: "I cannot support a movement that holds that purely religious doctrine should govern civil political decisions and that uses the sacredness of religious faith for the pursuit of worldly power. I cannot support a movement that is deeply homophobic, cynically deploys fear of homosexuals to win votes, and gives off such a racist vibe that its share of the minority vote remains pitiful. I cannot support a movement which has no real respect for the institutions of government and is prepared to use any tactic and any means to fight political warfare rather than conduct a political conversation."  Welcome back to the world of sanity, Andrew.  Wouldn't it be nice if the old Eisenhower Republicans came back into their fold and we had actual, rational political discourse in this nation again?

Thom's Blog Is On the Move

Hello All

Today, we are closing Thom's blog in this space and moving to a new home.

Please follow us across to hartmannreport.com - this will be the only place going forward to read Thom's blog posts and articles.

From Screwed:
"If we are going to live in a Democracy, we need to have a healthy middle class. Thom Hartmann shows us how the ‘cons’ have wronged this country, and tells us what needs to be done to reclaim what it is to be American."
Eric Utne, Founder, Utne magazine
From Screwed:
"Hartmann speaks with the straight talking clarity and brilliance of a modern day Tom Paine as he exposes the intentional and systematic destruction of America’s middle class by an alliance of political con artists and outlines a program to restore it. This is Hartmann at his best. Essential reading for those interested in restoring the institution that made America the envy of the world."
David C. Korten, author of The Great Turning and When Corporations Rule the World
From Cracking the Code:
"Thom Hartmann ought to be bronzed. His new book sets off from the same high plane as the last and offers explicit tools and how-to advice that will allow you to see, hear, and feel propaganda when it's directed at you and use the same techniques to refute it. His book would make a deaf-mute a better communicator. I want him on my reading table every day, and if you try one of his books, so will you."
Peter Coyote, actor and author of Sleeping Where I Fall