"Occupy Wall Street" to Push for Global Tax
By Cliff Kincaid
October 12, 2011Jumping on the anti-Wall Street media bandwagon, Josh Boak of Politico says Democratic Rep. Peter DeFazio’s measure to tax Wall Street has “newfound momentum.” The Soros-funded Think Progress blog quickly jumped on the report, saying the plan is being seriously considered on the Hill. There is only one problem: DeFazio hasn’t introduced any such bill in the current Congress.
Despite the hype from Politico, the issue is a real one. And the threat is not only a “Wall Street financial transactions tax” that could affect ordinary investors but a global tax to finance various international agencies and causes.
It’s just a “tiny tax,” say proponents, that has the support of billionaire Bill Gates and can generate $100 billion a year. A global tax on financial transactions could generate at least $700 billion a year from the U.S. and other “rich” countries.