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Like the Politico article last week, this article is full of mistakes and/or sloppy reporting. We all saw Turbo's interview, and he clearly doesn't support any form of trans tax. Pelosi never said she supports Defazio's bill, only an international form of the tax. You'll also notice that this...

Very good to hear! I've already written my rep asking her to consider supporting the letter referenced in this article. Hopefully she reads it and agrees. I hope everyone here either has or plans on writing their reps as well.

Disappointing to see Marketplace run a trans tax story without any sort of counter argument -- lots of people listen to this show, too: http://marketplace.publicradio.org/display/web/2009/12/04/pm-stock-tax/ Bergin says the transaction tax would have to be closer to 1 percent to really put...

Expect to hear from more politicians when the senate version of this bill is introduced next week.

A decent new article with some good counter-arguments: http://industry.bnet.com/financial-services/10005317/small-traders-fear-a-transaction-tax-would-wipe-them-out/ More broadly, O’Brien defends the rights of speculators, while dismissing the notion that securities trading contributed...

bank bailout as in left-over TARP funds you think?

They made a big deal about including some sort of wording about preventing US citizens from avoiding the tax by trading on non-US exchanges -- I guess this is what they were thinking of: `(a) In General- In the case of any outbound securities transaction, the transferor shall deduct...

The official bill with 25 co-sponsors: http://thomas.loc.gov/cgi-bin/query/z?c111:H.R.4191:

Geithner is for the fee and against the tax plain and simple . . . don't be a victim to shoddy reporting.

There's been a lot of mixed signals the past couple days, but it's fairly obvious this has to do more with shoddy reporting than anything else. The people that have been following this thread have read literally everything that's been written about this tax, and we can piece together what's...

great, thanks

Agree 100%

I think it was introduced today and will be available on sites like Thomas and Govtrack two or three days from now. In the meantime, it looks like an Oregon news site was able to get the bills official summary (at least that what it looks like based on the formal language)...

Response from SIFMA: http://www.sifma.org/news/news.aspx?id=14498 Washington, DC, December 3, 2009—The Securities Industry and Financial Markets Association (SIFMA) today released the following statement by Kenneth E. Bentsen, Jr., executive vice president, public policy and advocacy, on...

Not much from Obama's Jobs Summit speech, but he did say that he'll be addressing the various proposals he gets early next week, and his instructions to the attendees were to provide ways to help the private sector create jobs (encouraging, IMO).

jobs summit live on msnbc right now if anyone is interested -- obama speaking now -- so far, Biden as said this: "The govt capacity to create jobs "is somewhat limited" - but can create environment for pvt sector jobs." I'll read into "limited" as including introducing new taxes.

It would be assessed on the total value of the transaction (more contracts per transaction = more tax).

From the article: "The measure would be based on legislation DeFazio proposed in the House that would apply a 0.25 percent tax to stock transactions in excess of $100,000 and a 0.02 percent levy on derivatives including futures, options, swaps, and credit default swaps."

It looks like this article has been updated with some important info -- suggest everyone re-read it. Some new key points: ----------------------------------- and a 0.02 percent levy on derivatives including futures, options, swaps, and credit default swaps...

"House Speaker Nancy Pelosi said today she sees a “great deal of merit” in imposing a tax on large stock transactions as long as other major nations do it as well. " http://www.bloomberg.com/apps/news?pid=20601087&sid=adcaJQ1Xp4_w&pos=8 P.S. "large" ?