Rep. Ellison thinks Americans’ money belongs to the government

Minnesota Democratic Congressman Keith Ellison is an advocate of big government, which was rather prevalent in his latest remarks about the people’s money being in the hands of the government.

Speaking during a roundtable discussion with the Progressive Democrats of America in Washington, D.C. on Jul. 25, Ellison made the point that the federal government is not broke and it has the means to generate more money for itself because it can institute new taxes.

“The bottom line is we’re not broke, there’s plenty of money, it’s just the government doesn’t have it,” Ellison said in a video. “The government has a right – the government and the people of the United States have a right – to run the programs of the United States: health, welfare, housing, all these things.”

Essentially, Ellison proposed a new tax called a “transactional tax.” This tax would be applied on all financial transactions, including the trading of bonds, derivatives and stocks. Revenues generated from the tax would go to fund healthcare and climate change initiatives. It is estimated to bring in about $300 billion each year in government coffers.

Ellison cited several billionaires and economists who are in support of the tax. “People like George Soros, Bill Gates, Warren Buffett, Paul Krugman, Joe Stiglitz, Jeffrey Sax, Dean Baker, Robert Poland, Larry Summers have said they all support a transaction tax,” added Ellison.

Not everyone agrees with Ellison’s sentiment that the government has the right to your money.

Rick Moran of the American Thinker urged Democrats to run on the message during the 2014 election season that all personal wealth belongs to the government.

“They should go to the American people and tell them that their hard earned wages are government property and that the state can reach into their pockets and take their property anytime,” said Moran.

At the present time, the tax called the “Inclusive Prosperity Act of 2013” is sponsored by Ellison himself and has 17 cosponsors, all Democrats. Opponents of the legislation say it has no chance of passing the Republican-controlled House.

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Comments

  1. The “transaction tax” is awful. Consider a bold taxpayer choice:

    Pay a flat 26% income tax (plus capital gains, estate and gift taxes later)

    OR

    Pay a low 8% income tax rate combined with a 2% tax on net wealth (excluding $15,000 cash and $500,000 retirement savings).

    The “money belongs to the government” phrase makes little sense.

    Read more at TaxNetWealth.com

  2. Get him out of Congress, This Guy is SICK…!!!

    My thought on a Flat tax, that it should be Way lower that 26%. I mean way lower, (but with no write offs for anything). Everyone would pay the same tax amount (as long as there were no write-offs). But we need to stop the Government from spending things on themselves, new bldgs., underground bunkers, ammo, stock piling food, $1 million and more vacations, war, giving money to other countries. The list goes on, on what they waste and it isn’t on it’s not on the US people.

    Thanks Vic
    http://vic.realgoldcurrency.com/
    http://meetup.com/Spokane-Preppers-and-Survivalist/

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