Ed Driscoll

He's Got A Plan To Stick It To The Man Himself

toon062509

Ever since the days of FDR’s first winning coalition, which combined northeast progressives and Wilsonian southern segregationists, the Democratic party has been a patchwork of grievance groups and special interests that often have little in common, aside from a visceral hatred of Republicans. And very often, the goals of these disparate groups collide hard — for example, NIMBY environmentalism stifling building projects, which cripples pro-construction unions. Or with this example, in which The Hill spots the “AFL-CIO, Dems pushing new Wall Street tax:”

The nation’s largest labor union and some allied Democrats are pushing a new tax that would hit big investment firms such as Goldman Sachs reaping billions of dollars in profits while the rest of the economy sputters.

The AFL-CIO, one of the Democratic Party’s most powerful allies, would like to assess a small tax — about a tenth of a percent — on every stock transaction.

Small and medium-sized investors would hardly notice such a tax, but major trading firms, such as Goldman, which reported $3.44 billion in profits during the second quarter of 2009, may see this as a significant threat to their profits.

Yeah, stick it to those fat cats on Wall Street! What did they ever do for Obama? Err, wait a second

Meanwhile, to bring this post full-circle, UCLA spots another progressive, pro-labor president whose policies helped cause an earlier extended period of economic strife.