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

Quote from zdreg:


What about the US? Obama doesn't believe in free markets. why not a FTT since he believes that all your income belongs to the government?
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A financial transaction doesn't necessarily generate an income.
A FTT will guarantee that you won't generate an income at all since you've killed the transaction with the tax.
So for most reasonable countries a capital gains tax will do.
While you're right on B.O. being anti-capitalist - he wants to raise that tax - other politicians are more reasonable.
http://www.sacbee.com/2010/04/19/2688057/capital-gains-tax-cuts-turns-into.html

I don't know if one can call the stamp duty a FTT, since it exists in the US and in Germany as well (says this page: http://www.lowtax.net/lowtax/html/offon/uk/uk_gotaway.html).
 
Quote from muller:

A financial transaction doesn't necessarily generate an income.
A FTT will guarantee that you won't generate an income at all since you've killed the transaction with the tax.
So for most reasonable countries a capital gains tax will do.
While you're right on B.O. being anti-capitalist - he wants to raise that tax - other politicians are more reasonable.
http://www.sacbee.com/2010/04/19/2688057/capital-gains-tax-cuts-turns-into.html

I don't know if one can call the stamp duty a FTT, since it exists in the US and in Germany as well (says this page: http://www.lowtax.net/lowtax/html/offon/uk/uk_gotaway.html).
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do u know what the rate is in the UK? are u playing a semantics game?
 
Quote from zdreg:

do u know what the rate is in the UK? are u playing a semantics game?
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The article on that page says .5%
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The 0.5% rate at which stamp duty is paid in the UK is far higher than that of Germany and the US, and therefore threatens the LSE's position as one of the world's top three stock exchanges.
However, Mr Brown was never likely to make such a generous gesture given the worsening fiscal situation he was facing at the time (and is currently facing as Prime Minister).
The UK is the last major world economy to impose this level of taxation on share purchases, and the 0.5% tax (which on a GBP5,000 transaction would cost the investor GBP25) is the highest in Europe.
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It's bad living/trading in the UK. And it's getting worse with Cameron.
If you don't want leave the UK, trade from a Dollar account.
 
Quote from listedguru:

So are we to assume Cameron now supports a FTT since he formed this coalition goverment? What a joke if thats true...

-Guru
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it exists. what do u call the stamp tax in the UK? where have u been for 6000 posts on this thread?





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Quote from muller:

The article on that page says .5%
-------------
The 0.5% rate at which stamp duty is paid in the UK is far higher than that of Germany and the US, and therefore threatens the LSE's position as one of the world's top three stock exchanges.
However, Mr Brown was never likely to make such a generous gesture given the worsening fiscal situation he was facing at the time (and is currently facing as Prime Minister).
The UK is the last major world economy to impose this level of taxation on share purchases, and the 0.5% tax (which on a GBP5,000 transaction would cost the investor GBP25) is the highest in Europe.
-------------
It's bad living/trading in the UK. And it's getting worse with Cameron.
More...

So does Cameron support a FTT now? See my post above regarding his coalition govt calling for one? If so that sucks.

-Guru
 
Quote from zdreg:

it exists. what do u call the stamp tax in the UK? where have u been for 6000 posts on this thread?

It says a "new" tax. I would assume this is in addition to the stamp tax.

-Guru
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Quote from Rod Shaft:

Here is the full text of the coalition agreement...

http://news.bbc.co.uk/2/hi/uk_news/politics/election_2010/8677933.stm

It does not appear to have any mention of the FTT (unless I am missing something).
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It refers to a bank levy in the full text. This looks like the same sort of sloppy reporting that occurred before where a bank levy was confused with an FTT.

The Cons position has until now been against the FTT (Cameron described it as 'literally hopeless') but the LibDems have expressed support for it but only if it's global.

I think the summary is wrong.
 
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