Search results

Not unless the IRS asks for it, there are only a few agreements in place, but i bet there will be many more soon. It goes the other way around as well, foreigners trading in the US have to declare their earning to their own tax authorities.

It is coming :( And then the EU is following suit... The question is now, will they be smart enough to see that a sudden tax of 0.25% will be destructive for many people or will they start more gently with a lower rate? Can you imagine watching Rick Santelli or Bertha Coombs on CNBC -...

Looked around, it seems that US residents are not allowed to trade much outside of the US using foreign brokers.. US residents "Please note that due to regulatory restrictions only Forex Spot, Forex OTC options, Managed FX funds, Spot Gold and Silver can currently be offered to US...

If the large institutions are exempt, the amount obtained from the tax, will be severely reduced. Since most trades are made through large, US, EU and some Asian institutions, the math does not add up. And it will be just another tax. The purpose of it is to take out speculators that...

Where exactly did you hear about this paper? :)

http://bensguide.gpo.gov/3-5/lawmaking/example.html

I spoke with the CME and ICE yesterday; they had no official comments yet. The same was true Regarding Tradestation, Global Futures and E*TRADE, who said "it was only speculation at the time being and they could not comment, but they were very much aware of it and following the developments...

GOOD points!

http://my.barackobama.com/page/community/post/earlearthworm/gGg4mk "For those who actually want to crack down on speculators in a meaningful way, there is a much more practical solution: tax it. A modest tax on all financial transactions will impose a serious cost on those who actively...

Yup, he was from the AFL-CIO which should be taxed instead for the damage they do a modern economy.

Agree, but then Russia and China will take over and... well you get the point :) Europe is handicapped as the EU can hardly ever agree on anything.

Yes this whole thread is just about an article, but with Democrats running things now, pheww. But i also doubt that the US would just go head on with this without modifications. http://www.thestreet.com/story/10457604/1/opinion-lets-not-tax-trading-out-of-existence.html?cm_ven=GOOGLEN...

http://seekingalpha.com/article/97964-why-not-a-transaction-tax Still believes it is way too high and will destroy the financial industry, including us :( "An important potential drawback if the US were to impose a more substantial transactions tax alone, is that it might drive financial...

Here is a little more info: The Bush administration's proposed tax on futures trading: ...which was proposed at 7 cents per transaction, or 14 cents each time a futures contract is bought and then sold. (The FY2007 budget does not specify any particular fee amount or rate, but simply...

Everybody wants to tax what does not apply to themselves. If you are a non-smoker, you want cigarettes to be taxed as high as possible.

I would say only Eurex currently...

I agree, this is a worst case scenario that is unlikely to come true as stated in the article. Keep it mind it also says "UP TO 0.25%" But that would actually tax it at "up to 0.5%" since both sides might have to pay it. Which is way too high. so is 0.25%

China’s Markets Soar on Cut in Trading Tax http://www.nytimes.com/2008/04/24/business/worldbusiness/24asiastox.html?fta=y Chinese Shares Slump After Stock Trading Tax Hike http://www.huliq.com/23167/chinese-shares-slump-after-stock-trading-tax-hike There we have it, hopefully they...

In the Wikipedia article, there are some great hints on how Europe did NOT want the tax. If Europeans can reject a massive and destructive tax or as the UK, dillute it severely, then there should be no problem for Americans to do the same. http://en.wikipedia.org/wiki/Tobin_tax

If the big boys will get an exemption then the $100 billion tax income tag is NOT possible.