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Trumpka is caught in a conflict of interest. Public-worker unions receive a large share of government spending and their contracts, compensation, and benefits are now widely viewed as being too rich and unsustainable. Union leaders like Trumpka should recuse themselves - or be dismissed -...

House Republicans vote to cut the CFTC budget, reducing the impact of Dodd-Frank Fin Reg's overreach. http://nyti.ms/hd9TZk This makes Obama's budget proposal to assess a new user fee - or FTT - on futures trades unlikely, no matter how small it may appear. Republicans want to cut the CFTC...

FTT really means Financial Trumpka Tax. Per a WSJ op-ed this week, almost every tax hike proposal over the past few years was pushed by greedy unions. From property tax, to income tax, to estate tax and sales tax, unions have been leading the tax hike charge. Why? To pay for public-sector...

I've thought all along that FTT is a diversion for Sarkozy and Merkel. They know it won't happen and it's a bad idea but it placates the finance company haters, the global left-wing charities and most of all it's a delaying diversion from taxing banks more directly. Sarkozy and Merkel know...

FTT supporters rally-cry about banks causing the recession, and argue a FTT will make Wall Street banks pay back Main Street. The Dodd-Frank Financial Regulation bill's Volcker Rule forces banks to divest proprietary trading for their own account. So a FTT will not fall on banks - no longer...

As pointed out by others, President Obama has a user fee or FTT in his brand new 2012 budget intended to finance growth at the CFTC. It's not a budget, it's a political platform for the 2012 presidential re-election. The Republican-controlled House will block the tax increases and new revenue...

Great simple rebuttal to Sarkozy from Japan's economy minister, that FTT is 'duplicated taxation, defective and fundamentally unfair.' Absolutely correct. FTT taxes revenues and costs - each side of the trade - and we already tax income, so it's clearly duplicated taxation. Even in VAT...

Bad day today for FTT opponents. Haven't seen this many links for FTT in google alerts for some time. On Jan 24, 2011, at 10:33 PM, Google Alerts <googlealerts-noreply@google.com> wrote: News 6 new results for financial transaction tax _ Sarkozy calls for financial transaction tax...

Why tax investors (with a FTT) for Wall Street bailouts? Plus, Wall Street paid back TARP once and now faces paying it back twice with President Obama’s proposed 100 billion bank levy assessed on bank’s non-insured assets. Financial service companies, their employees, traders and...

EU FTT versus FAT. The main argument against FTT is it falls on consumers (investors). That's a good enough reason to block it in the US, but maybe not in the EU. Many EU countries have VAT taxes (partially a consumption tax) in addition to income taxes, so I am not sure they are truly concerned...

Per wikipedia on Semeta, he is affiliated with the European Peoples Party, which advocates pan-EU fiscal and monetary policy. As I've predicted for over a year, some in the EU would propose a FTT as a convenient new federal EU tax. Semeta seems to fit this bill. EU-only FTT won't fly with...

Scrouge De-Fazio won't give it up. http://blogs.wsj.com/washwire/2010/12/09/house-democrats-reject-tax-deal-in-symbolic-vote/

Global Macro EconoMonitor. http://www.roubini.com/globalmacro-monitor/260019/time_for_a_financial_transaction_tax As a matter fact, 23 countries around the world have adopted a financial transaction tax (FTT), mostly as a means to cover the operating costs of domestic ... Green comments...

I (along with our Traders Association) am on this story too. In a Webinar we did with Rockwell Trading on Wed 10/27, their CEO was complaining about forex trading platforms. He compared trading forex with a computer versus futures trading where buyers and sellers are matched on exchange. He...

Glad the US doesn't have a hot money inflow problem like Brazil and doesn't need a FTT to slow down inflows. It would be inappropriate and even illegal for a reserve currency like the dollar to have a toll-charge FTT on non-US parties wanting to use that public trust reserve currency. If...

EU Finance Ministers Seek to End Bank Tax Row By Reuters Friday, October 01, 2010 http://www.hedgeworld.com/news/read_newsletter_aa.cgi?section=dail&story=dail17539.html EDITOR'S NOTE: This story has been updated throughout. BRUSSELS (Reuters)—Britain and Italy have told their...

Reply to IMF FTT update article above - in my Google alert last night. Glad you pointed out it may not be an official IMF position change. I'm sure advocates of FTT will try to claim it's supportive. Interesting this IMF paper builds it's conclusion based on citing STT in the UK, Switzerland...

http://m.thelocal.de/politics/20100915-29843.html Merkel won't give up on FTT. But this article seems to portray internal German politics. FTT is Merkel's way to defray attacks from the left on her bank bailouts and Germany's economic comeback. With austerity coming, for sure public unions...

http://online.wsj.com/article/SB10001424052748704358904575477141643676272.html A proposal for a financial-transaction tax (FTT) got a weak reception at an important EU meeting today, with EU financial matters being on the agenda. The main agenda item was an EU-wide bank levy and perhaps...

http://www.forbes.com/feeds/ap/2010/09/07/business-eu-eu-financial-crisis_7905765.html?boxes=Homepagetopnews EU nations OK financial supervision deal http://blogs.forbes.com/greatspeculations/2010/09/07/european-union-to-talk-bank-levy-financial-transaction-tax/ European Union To Talk Bank...