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I saw somewhere that someone had a done a calculation showing that the FTT could cost the average person over $100,000 lost from their 401k over his/her lifetime. Does anybody have a reference on this? I can't find it. It's a powerful argument against the FTT, but I don't want to use it...

White House officials said they broadly support “the goal” of a tax on financial transactions under debate in Europe, but did not back any of the specifics. We are always just one election away from an FTT.

Obama wanted the FTT as did many members of his staff. Larry Summers and Tim Geithner talked him out of it. The only thing standing between traders like us and the FTT right now is the Republican majority in the House of Representatives. If the GOP hadn't taken the House last year, an FTT...

I recently received an email from someone asking what I was saying to my congressional representatives when writing them regarding the FTT. Below is the letter I'm sending to my congressional representatives in California, and also to representatives in the key states of Illinois and New...

Contact your Congessional representatives. We must do this in every state. Below is the response I received from California Senator Dianne Feinstein. It's obviously an off-the-mark response from a lowly member of her staff, but at least my point of view is on the radar with someone in her...

You'll need to hire a tax lawyer or CPA to figure that out. In the meantime, I'd suggest you do what you can stop the FTT.

Good research. Thanks.

Absolutely YES. Retail traders will pay the tax. The only remaining question is whether or not the big players (e.g., Goldman Sachs) would be able to get themselves exempted. My best guess is that if there's an FTT the retail traders will get crushed the tax, but Goldman Sachs and the other...

I got this information from a friend of mine who's a futures trader currently living in Stockholm, but worked for a large investment firm in London for almost 10 years. He said that the stamp tax was jokingly referrred to as the "punters tax" because only the ordinary guy on the street paid it...

You're exactly right. Dean Baker is the worst, saying that the UK's stamp tax doesn't affect business in London. I've sent him several emails correcting him, but he continues telling the same half-truths (lies) over and over again. Here's the whole story: Supporters of the FTT often tout...

Russia will celebrate if the EU imposes an FTT. "If other countries want to impose transaction taxes let them do it. Russia will benefit from it because financial operations will move to the region (with less taxes) and make us happy.” - Arkady Dvorkovich, special assistant to the Russian...

The UK, Sweden and the Czech Republic seem to be a firm 'no' on the FTT (for now), but they're not Eurozone countries. The most interesting Eurozone country to watch is Malta. The financial sector is the fastest growing segment of Malta's economy and is currently over 12% of GDP. And they've...

. I also think it would be a good idea for everyone on ET to call their brokers, talk to management and find out what they're doing to fight the FTT. After all, they have as much at stake here (or more) than we do. I called two of my three brokers about a year ago. One was only vaguely...

Anyone who thinks the FTT can't happen here should pay close attention to what just happened in the Netherlands. For over a year Jan Kees de Jager, the Dutch Finance Minister, has said that the FTT would be a financial disaster and would drive jobs and capital out of Europe. He was absolutely...

Is he getting paid with taxpayer money? If he is, I agree with you.

If it were just a matter of a few people gaming the system there would be an easy fix. The problem is much bigger than that. Though San Jose is used as the primary example in this article, the math is pretty much the same for all the major cities in California...

Why would you want to do that? I tend to be conservative, but at the same time I think many Christian fundamentalists are dangerous, I think drugs should be legalized, and I have many other views that conflict with traditional conservative thinking. I don't understand why any thinking person...

You're right. But wait... there's more. Politicians (of both parties) use tax breaks and the tax code to hand out favors to special interest groups in exchange for money and votes. If we simplify the tax code, we take away 80% of the power from politicians. A simplified tax code is the...

If the economy is recovering a year from now, Obama will stand a good chance of being re-elected. If the economy is still faltering, he'll stand a good chance of being defeated. That's really all anyone can say at this point. "It's the economy, stupid."

If the Netherllands folds, that leaves five against the FTT in the EU: the UK, Sweden, Malta, Ireland and the Czech Republic.