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

[seasideheights]

Remember that there's a difference between the Ways & Means not considering it now versus the support building within the democratic party for the idea.

The support building precedes any Ways & Means consideration.

It's good that it's not being considered right now, but the topic deserves continued monitoring since the downside of its enactment is the elimination of our livelihood.

 

[rsikit]

Of course seaside I agree with you, this has been in ways an means a long time and is presented every year so far not gaining anymore democratic support which is also good. So yes keep monitoring it as well. Also the hype is lessening on CNBC which is good, the people for and against are less hype as well as the commentators so hopefully they will let it die down there as well. I emailed them the first time they had it on a few months ago but not anymore!

 

[cstfx]

That Clinton guy is a misinformed moron. Here he is pushing this tax because, as he puts it, we have to recoup the 100's of billions of dollars given to banks in TARP. He even backed the AFL-CIO in their call for this.

Fucking moron! There already is a provision in the TARP regulation that allows for this after 4 yrs.

These people are so fucking stupid and do nothing but push their respective side's hot points.

 

[listedguru]

Quote from rsikit:

That actually wasnt as bad as it was the last few times, they didnt mention what the tax number was which is good. I wouldnt mind a sec type tax on futures or currencies since it is small. That guy was open to a price for the tax. But either way atleast we didnt have the cheerleader Erin Burrnet whore on so thats good, and where it matters as in the House ways and means committee they are not considering it, they are the tax writing segment of the government, from Trade the news but I dont have a subscription this is only off the front page:


Today 11:11am EST/03:11pm GMT
House and Ways Means Committee Spokesperson: Financial transactions tax not being considered by committee ***Note: On 10/09 WSJ reported that House Democrats were still considering tax of financial more...

Well thats very good news that the House Ways and Means Committee isn't considering the tax. I wonder why that WSJ piece mentioned an aide saying they we're considering it? Has anyone contacted the author of the piece? That might be interesting...

Also does anyone have a link to the CNBC story that aired earlier today?

-Guru

 

[listedguru]

Here's a Reuter's blurb talking about the tax not being discussed at this time:

http://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUSN1213559220091012

-Guru

 

[listedguru]

Quote from listedguru:

Here's a Reuter's blurb talking about the tax not being discussed at this time:

http://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUSN1213559220091012

-Guru

From the above Reuter's piece:

"The idea of a financial tax has been floated, including in a piece of proposed legislation that would place a tax of one-quarter of one percent on transactions by those firms that have received financial bailout funds."

This talks about taxing transactions by those firms that received bailout funds. That isn't correct is it? If so that would be the first I've heard of that spin on it..

-Guru

 

[ProgrammerGuy]

I know I'm probably going to get slammed here, but if you were too look at this from an unbiased standpoint, you have to realize that short term trading added little to zero value to society.

Sure I understand that there are quite a few business / people that survive off this game, however I feel there is so much wasted talent in the US. A good portion of the smartest people go to work into finance, figuring out how to beat this casino, which again adds little value to society.

Instead I wish our top brains would go into the fields of research, math, and the sciences. The number of people applying patents is on the low.

It's kinda interesting to think of all the time talent and energy that goes into goldman sachs... and what value to they add to society, no much

 

[FightTheFuture]

Quote from listedguru:

From the above Reuter's piece:

"The idea of a financial tax has been floated, including in a piece of proposed legislation that would place a tax of one-quarter of one percent on transactions by those firms that have received financial bailout funds."

This talks about taxing transactions by those firms that received bailout funds. That isn't correct is it? If so that would be the first I've heard of that spin on it..

-Guru

Proponents are throwing anything out there hoping something will stick without as much opposition. Or start with something awful and pare it back, hoping people will say "now that's not so bad".

 

[neke]

Quote from ProgrammerGuy:

...
Sure I understand that there are quite a few business / people that survive off this game, however I feel there is so much wasted talent in the US. A good portion of the smartest people go to work into finance, figuring out how to beat this casino, which again adds little value to society.

Instead I wish our top brains would go into the fields of research, math, and the sciences. The number of people applying patents is on the low.

Aren't there enough unemployed talent already? They could as well go into the field of research, math, and the sciences.

 

[rsikit]

Do we really need a walmart or starbucks on every corner , thats useless as well! Waste of space and wasted money to china buying all the shit from them!