1/4% Tax on all stock trades pushed in NY Times today

"The member states are now facing the challenging task of identifying the smallest common denominator as the 2011 proposal is unlikely to be acceptable in its current form. One suggestion, as has been proposed previously by the German Liberal Democrats, might be to introduce a UK style stamp duty. Whether this could be enhanced to a full scope FTT in a second step remains to be seen."

:)
 
Quote from Robert A. Green:

Here's my RallyCongress.com email to send to your Congressmen and President Obama.

Please everyone email it ASAP and spread the word as much as possible.

"New proposed FTT bills need to be stopped, including the French tax assault on American investors."

http://greentradertax-traders-assoc...s-need-to-be-stopped-including-french-tax-as/
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Robert,

Thanks again for setting this up. You've made it easy to send emails to congress and the president. Everyone on ET should use the link to contact their representatives today.

Best,

Tom
 
Quote from tomdavis:

Robert,

Thanks again for setting this up. You've made it easy to send emails to congress and the president. Everyone on ET should use the link to contact their representatives today.

Best,

Tom
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Thanks Tom for your incredible help. So far, the petition is doing okay, but not great. We have 236 letters and we need 100,000.

sheda said the Elite administrator should send a private message to all ET users to please sign and email the petition. Can someone try to make this happen?

I am asking our friends in the trading industry to help spread the word.

We need to ask all the brokers, education sites, service providers and others to help out and spread the word, too.

It's time for a full court press! Thanks all.

Here's the Petition.

http://greentradertax-traders-assoc...s-need-to-be-stopped-including-french-tax-as/

Thanks
 
Quote from sculptor66:

I'm from Europe but trading the US markets. I would like to sign the petition, but does it make sense? Or would it be viewed as "interference by a foreigner with US politics"?
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I think it's appropriate for you to sign the Petition. You are a valued customer of American brokers and exchanges. The petition also diplomatically asks U.S. Congressman and President Obama to help advocate for no FTT in Europe. Proponents of FTT argue it must be global, so we have every right to fight against FTT growing in force in any country.

Choose a zip code for the exchange you trade, or where your broker is located, or where you like. The petition will then be sent to the Congressmen in that state.

Maybe choose more states where you think you have interests and use a different email address. We need to reach the swing Congressman on this issue.
 
Quote from Explorer:

EU Moves Ahead With Transaction Tax in Rejecting U.K. Changes

http://www.bloomberg.com/news/2012-...transaction-tax-in-rejecting-u-k-changes.html

This is an interesting development. There were 10 objecting countries which is encouraging for the upcoming QMV.

Looking at the voting allocations (http://www.eurofound.europa.eu/area...onary/definitions/qualifiedmajorityvoting.htm) and making educated guesses as to who those 10 countries were, it looks reasonably hopeful that we could reach the 88 votes required to block.

By my reckoning there are 8 countries who would have cause to object plus 2 other countries (Romania and Bulgaria?) making the number up to 10:

UK(29) , Poland(27), Romania(14), Czech Rep.(12), Sweden(10), Bulgaria(10), Denmark(7), Ireland(7), Luxembourg(4), and Malta(3).

If all these voted no in QMV we would have 123 votes (if these are the right countries). Even without Poland we'd have 96.

Howevever if Romania and Bulgaria are replaced by, for example, Lithuania(7) and Latvia(4) then we'd narrowly lose without Poland.

The fact that the commission refused to make an entirely reasonable amendment makes it more likely that countries will vote no in QMV in my opinion.
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Does anyone know what happens if this were to get voted down by at the QMV? Can it be revoted on at some point? Are they able to tweak the proposal at that point and redo the vote? I'm just wondering if they can keep calling for a revote or if there is some law that says otherwise?

-Guru
 
Quote from listedguru:

Does anyone know what happens if this were to get voted down by at the QMV? Can it be revoted on at some point? Are they able to tweak the proposal at that point and redo the vote? I'm just wondering if they can keep calling for a revote or if there is some law that says otherwise?

-Guru
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I doubt they will call for a vote until they know it will pass.
 
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