Last Call

Some House Dems actually want Wall Street to pay America back, the stupid bastards.

A House bill still being drafted aims to raise $150 billion each year to pay for new jobs.

Under a bill being drafted by Democratic Reps. Peter DeFazio (Ore.) and Ed Perlmutter (Colo.), the sale and purchase of financial instruments such as stocks, options, derivatives and futures would face a 0.25 percent tax.

The bill, a copy of which was obtained by The Hill, is titled the “Let Wall Street Pay for the Restoration of Main Street Act of 2009.”

Half of the $150 billion in tax revenue would go toward reducing the deficit, while the other half would be deposited in a “Job Creation Reserve” to support new jobs.

The job fund would be available to offset the additional costs of the 2009 highway bill and other legislation that creates jobs.

The Obama administration and congressional Democrats are looking for ways to create jobs after the nation’s unemployment rate hit 10.2 percent in October and job losses are expected to rise.

Republicans of course will argue either that all the money should go to deficit reduction, or that Wall Street banks will simply skip town and thousands of jobs will be lost as a result.  That's utter nonsense, because Wall Street has paid good money to have have Obama hand them trillions, and they're not about to leave all that behind.

The bill will never get to the President's desk, as a matter of fact even should a miracle happen and the bill pass the House, the Senate will ignore it.  Washington fat cats aren't about to tax themselves, you know.  That's for us little people.