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

Sig said:
Just so you know, the Vice President of the United States can neither initiate nor veto legislation, so what Kaine "drives" is pretty immaterial unless you think he's going to lose and remain a senator. Not to mention the fact that he's shown absolutely no inclination as a senator or candidate to impose an FTT and it's not an area he's ever shown any interest in before. Sanders is an independent Senator, you give him superhuman powers if you think he can single-handedly push through an FTT.

And once again, how is it that "corrupt Hillary" can be in the pocket of Wall Street and yet not even care enough to lift a finger against something they are universally against? You still haven't explained that to me, and I'm genuinely confused how one can hold these two mutually exclusive concepts in their head simultaneously without some serious mental gymnastics.
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I said ppl LIKE Kaine. Not necessary him. But Obama lobbied hard for Obamacare himself and through his proxies, didn't he? And what these two said or not said now does not matter. What the democratic Congress decides they will just go along.
 
EU FTT talks postponed (again):

An EC spokesperson said a lot of 'technical work' is still outstanding, causing a final decision on the imposition of a Financial Transaction Tax (FTT) to be postponed until January 2017.

The meeting of the ten countries was originally scheduled for December.

Estonia left the original group of eleven countries last year, and now Belgium, Slovenia, and Slovakia look increasingly unlikely to commit. The FTT requires the support of at least nine countries, and it might no longer go ahead after all.

http://www.automatedtrader.net/news/at/156691/financial-transaction-tax-talks-postponed
 
Talks on implementation of the financial transaction tax have stalled after more than three years of ongoing discussions, despite 10 countries reaching an accord in October on a “core engine” platform for taxing shares and derivatives.

German Finance Minister Wolfgang Schaeuble raised further doubts about the financial transaction tax when questioned on the use of a legislative procedure called “enhanced cooperation” which that allows like-minded countries to get around unanimity rules for EU tax legislation.

“We have to be honest,” Schaeuble said. “This is not the right instrument. If there is an agreement there will be a problem between countries that implement the tax and those that do not.

“We suffer between the expectations we have created and our failure to reach an agreement,” Schaeuble said.

https://www.bna.com/eu-fails-reach-n73014448171/
 
Europe is again making an analysis for the FTT. They will meet end of march. An opt-out clause is also being discussed, showing that most countries are not enthusiastic. At this moment only 10 countries are more or less in favor of the tax.
As a few countries are radical opposed to the FTT, the financial markets will move overthere. No doubt about that.

The UK, Denmark, Czech Republic, Luxemburg and Bulgaria are opposed and will welcome the new business.
 
A proposed financial transaction tax that would cover 10 European Union nations and potentially provide a major windfall of development funding has passed a major hurdle, as finance ministers offered national opt-outs for levies on pensions to address concerns voiced by Belgium, Slovenia, and Slovakia.

International development advocates have been closely following the FTT negotiations, which include heavyweights Germany and France, because parallel proposals would formally or informally earmark some of the projected 15 billion-plus euros in new revenues for international aid.

"We are confident that this work can be wrapped up at the technical level,” said Vanessa Mock, European Commission spokesperson for Taxation and Customs Union.


https://www.devex.com/news/possible-development-funding-windfall-looms-as-europe-debates-ftt-89929
 
seasideheights said:
A proposed financial transaction tax that would cover 10 European Union nations and potentially provide a major windfall of development funding has passed a major hurdle, as finance ministers offered national opt-outs for levies on pensions to address concerns voiced by Belgium, Slovenia, and Slovakia.

International development advocates have been closely following the FTT negotiations, which include heavyweights Germany and France, because parallel proposals would formally or informally earmark some of the projected 15 billion-plus euros in new revenues for international aid.

"We are confident that this work can be wrapped up at the technical level,” said Vanessa Mock, European Commission spokesperson for Taxation and Customs Union.


https://www.devex.com/news/possible-development-funding-windfall-looms-as-europe-debates-ftt-89929
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Belgium told to get off the fence, stop blocking FTT:

https://www.euractiv.com/section/ec...-told-to-get-off-the-fence-stop-blocking-ftt/

For Slovakia and Belgium it is time to get off the fence. The two countries have until May to adopt the FTT or to walk away.

“They must have made a decision by May,” said Austrian Minister of Finance Hans Jörg Schelling, who is presiding over negotiations. “If they do not approve it and decide to leave the group, the project is over,” he warned.

The finance ministers of the ten countries participating in this enhanced cooperation project met on Monday (20 March) in an attempt to drive the issue forward. The compromise on the table – which exempts Belgian pension funds from the tax – was approved by the majority of participants.
 
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