First ask yourself, why does the union want the Dems to add a tax to ALL STOCK TRANSACTIONS? Sure it sounds like a small number. Only 0.1% tax. It would amount to over $100,000,000,000 (billion) dollars. Guess who would get a piece of that pie? The unions!
Strange that they want it because unions have large investments in the stock market with their pension funds. This seems like an oxymoron. However, it's the labor union DEMS who are pushing for more money.
Ten years ago Bill Clinton signed into law some limits on stock registration and taxation. As a result, the government gets $1.5 Billion per year for it. Now the Unions want to increase that number by 100 times more! How about a tax increase of 100 fold? Imaging the damage this tax would have on an already weak Wall Street market.
Basically, this is a value added tax added to ALL investments. Proponents claim it is directed to large investment firms, but it would affect ALL stock transactions. This includes the everyday people like you! How about a 100 fold tax increase on your stock investments? Sound fair to you? This affects all people who buy and sell stocks - not just big investment firms.
Action To Take
Tell your friends who are in the union. Let them know that their pension funds will be heavily taxed if this passes.
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