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

Quote from listedguru:

Couple of things:

Tomorrow (Thursday) is being called a global day of action for the FTT. It sounds like a bunch of groups are planning protests, etc against the banks and in favor of the FTT. I guess most (maybe all) of these rallies will take place in Europe. This coincides with the upcoming meeting of the G20 finance ministers in Paris on Friday and Saturday. Let's hope Geithner squashes this FTT proposal on the big G20 stage. Anything less would be a major dissapointment.

-Guru
More...



These protests are typical. All the hippie, libertard activists always conduct mass protests at the G-20, World Bank conferences all the time. Hopefully, we'll have some great video footage of riot police beating the absolute shit out of these protesters. :D
 
I read in a couple of different articles that France is going to push for FTT at the G20 meetings this weekend with the hope of efficient and technical support from the IMF:

"Lagarde explained that the French presidency intends to propose, despite very mixed support from other members of the G20, a tax imposed on financial transactions, with, it is hoped, efficient and technical support from the International Monetary Fund."

http://www.lowtax.net/asp/story/front/French_To_Push_For_Tobin_Tax_At_G20____47798.html

Unless something has changed recently I don't see the IMF providing efficient and technical support to the FTT cause. Also this Lagarde lady seems to favor a FTT on currency transactions (not that it matters).

-Guru
 
FTT supporters rally-cry about banks causing the recession, and argue a FTT will make Wall Street banks pay back Main Street.

The Dodd-Frank Financial Regulation bill's Volcker Rule forces banks to divest proprietary trading for their own account. So a FTT will not fall on banks - no longer trading - but rather ordinary investors and pension funds. When banks do pay FTT, it will be for and paid by their clients including pension, non-profits, corporations and government.

FTT will just be another tax hike on the middle-class. The unions who want a pound of flesh with FTT can't even shoot straight.
 
Straight talking common sense from the Aussies:

http://news.smh.com.au/breaking-new...stralian-economy-to-world-20110218-1ayhv.html

[...]Asked of French finance minister Christine Lagarde's idea to push ahead with a tax on financial transactions without the support of the United States, Mr Swan said such a move would not work "unless everybody is on board".

"It will be one of the matters that will be on the table this weekend. I don't intend to pre-empt the outcome of the meeting," Mr Swan said of the financial transactions tax issue.

"I'm not supporting a transaction tax, but I haven't seen the debate, I haven't seen the commentary, I just make a very simple point that you couldn't have one unless everyone was on board.

"I'm not supporting a transaction tax, I haven't been on the cart for it, but I will go along to the meeting and have the discussions with the people that are there."[...]
 
Quote from Explorer:

Straight talking common sense from the Aussies:

http://news.smh.com.au/breaking-new...stralian-economy-to-world-20110218-1ayhv.html

[...]Asked of French finance minister Christine Lagarde's idea to push ahead with a tax on financial transactions without the support of the United States, Mr Swan said such a move would not work "unless everybody is on board".

"It will be one of the matters that will be on the table this weekend. I don't intend to pre-empt the outcome of the meeting," Mr Swan said of the financial transactions tax issue.

"I'm not supporting a transaction tax, but I haven't seen the debate, I haven't seen the commentary, I just make a very simple point that you couldn't have one unless everyone was on board.

"I'm not supporting a transaction tax, I haven't been on the cart for it, but I will go along to the meeting and have the discussions with the people that are there."[...]
More...

Very nice to hear this. Hopefully Sarkozy will come to his senses and quit wasting everyone's time with this FTT talk. Doesn't the G20 have more important issues to discuss?

-Guru
 
I've thought all along that FTT is a diversion for Sarkozy and Merkel. They know it won't happen and it's a bad idea but it placates the finance company haters, the global left-wing charities and most of all it's a delaying diversion from taxing banks more directly.

Sarkozy and Merkel know full well that their banks are too weak to pay big tax assessments now. The main event is meltdown in PIIGS and the spreading govt deficit crisis. The EU is still in bailout mode and banks are teetering because they own PIIGS bad debt.

So please Sarkozy stop this FTT charade.
 
Quote from RewriteQuran:

1st world should ideally

1. Minimize income tax.
2. Maximize wealth tax.
3. Impose tax on idle cash.
More...

1. Already happening
2. Not happening
3. Already happening because of the Fed's artificially low interest rates
 
You must log in or register to reply here.
Back
Top