More Rope!

Having recently discussed Democrat jackassery--but I repeat myself--in financial matters here and here, I present corroborating follow-ups.

From the Wall Street Journal:

Democrats Weigh New Tax on Investment Income

WASHINGTON -- House and Senate negotiators are considering applying for the first time the Medicare payroll tax to investment income as part of a compromise to pay for a health overhaul.

Although I do love this part: Labor leaders complained directly to President Barack Obama on Monday about the tax on high-value plans, which would hit some union members who have negotiated generous health benefits.

Meanwhile, Bloomberg reports that Obama Said to Consider Fee on Banks to Trim Deficit:

Jan. 11 (Bloomberg) -- President Barack Obama may propose a fee on financial-services companies as a way to fulfill a vow on cutting the budget deficit in half, administration officials said.

The officials declined to give specifics about how the fee would be structured. One official, who wouldn’t be identified by name because the proposal is still being discussed, said it may be included in the administration’s budget to be released next month. The proposal won’t include a tax on Wall Street bonuses or financial-services transactions, Politico reported today, citing unidentified officials.

Emphasis added.  Look, your majesty, I realize that your too concerned about the price of arugula to pay attention, but us peasants are all familiar with a television commercial format in which the announcer explains that "We buy in bulk and pass the savings on to you"; if you make it more expensive for a bank to operate, they will pass the un-savings on to us, as--literally--"the price of doing business."

And I am about the ten-thousandth person to try to explain why your socialistic fantasies are a crock.

Meanwhile, having made it so difficult to do your taxes that you need to pay an expert to do them for you, the IRA announces plans to regulate tax-preparers, including mandatory testing and continuing education.

Predictably, CPAs and tax-giants like H&R Block think this is just dandy; no one has asked the folks who will have to pay more to get their taxes done.  (A fine example of a case where business chortles as it sells the commies the rope that will be used to hang them...)

Not as arresting--heh--an image as a rope, but Total Investor sums it up:

"They all look guilty of something, but the one who stole my pension is in the middle."