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

Quote from Explorer:

France Votes 'Yes' To EU Tobin Tax (and German Parliament says no)

http://www.tax-news.com/news/France_Votes_Yes_To__EU_Tobin_Tax____49911.html
More...

Countries that don't have important financial place , like France,shouldn't be allowed to talk so loudly about it. "Let's tax globally what France doesn't have to fund my super humanist goals of the millenium so that I get credit for it without endangering my own country's economy", That's Sarkozy's way.

Really good news out of Germany here.:)
 
EU to push for global transaction tax at G20 summit.

BRUSSELS, June 20 (Reuters) - The European Union will continue to push for a global financial transaction tax at the G20 leaders' meeting in Cannes in November, European Commission President Jose Manuel Barroso said on Monday.

"In line with the conclusions of our last meeting, the Commission is completing its impact assessment and will present a formal legislative proposal after the summer," Barroso said in a letter to European Council President Herman van Rompuy.

"Our analysis shows that there is a strong case for deciding on a financial sector tax in the EU as a first step," Barroso said.

"With a view in particular to the G20 Summit in Cannes, we will in parallel continue to work for a global agreement on a financial transaction tax," Barroso said in the letter, sent to Van Rompuy ahead of the European Union leaders' summit on Thursday and Friday this week.

http://www.forexyard.com/en/news/to...ction-tax-at-G20-summit-2011-06-20T102812Z-EU

I hope that it's significant that Barroso referred to a financial sector tax in the EU as a first step, and not specifically an FTT. Previously the commission has favoured a FAT at EU level and an FTT only at global level.

Even if their position has changed they still need unanimity from all 27 countries for an EU level tax, or all 17 eurozone countries for a eurozone level tax, both of which remain very unlikely- even more so now that Germany's parliament has now rejected the idea of an EU level FTT.
 
Germany caved in on Greece. They will cave in on this issue.

most governments and particularly the US under obama don't believe in markets or transparency. if obama had his way there would be no public trading of any equity.
 
Quote from Explorer:

I hope that it's significant that Barroso referred to a financial sector tax in the EU as a first step, and not specifically an FTT. Previously the commission has favoured a FAT at EU level and an FTT only at global level.

Even if their position has changed they still need unanimity from all 27 countries for an EU level tax, or all 17 eurozone countries for a eurozone level tax, both of which remain very unlikely- even more so now that Germany's parliament has now rejected the idea of an EU level FTT.
More...

LOL... In fact in the end it's just a matter for national parliaments, so the first thing we could do to "raise revenues" is to abolish worthless institutions like the european parliament that never had any legislative power nor any other purpose than providing a living to its member, and stop financing the commission to produce impact assessment on stuff they can't rule in.

The UK government said no, the german parliament said no, these are the only 2 meaningful financial countries in Europe. Why are you going ahead Barroso? This is clearly a waste of tax payer's money.:mad:
 
these hedge funds are based in cayman islands, singapore, bermuda and not pay ZERO capital gains tax from their casino skimming operations and stock fraud , market manipulation operation!

Even mutual funds like templeton investment funds moved to cayman islands and even google moved to ireland to minimize or pay no tax.

these hedge funds and banks are making billions in profits.

Quote from ksharmon:

DJ EU's Barnier supports "modest" financial transaction tax

Headline just crossing a few minutes ago
More...
 
It sure sounds like the EC may be recommending an EU only FTT in their report:

"In a letter to EU President Herman Van Rompuy ahead of Thursday and Friday's EU summit in Brussels, European Commission President Jose Manuel Barroso seemed to back the go-it-alone approach."

'Our analysis shows that there is a strong case for deciding on a financial sector tax in the EU,' he wrote.

"An EU tax is needed to prevent 'uncoordinated tax measures being put in place; to ensure that financial institutions make a fair and substantive contribution to recoup the cost of the recent crisis (and) to address concerns about excessive profits,' Barroso argued."

"It would also 'create appropriate disincentives for overly risky or purely speculative transactions,' he added."

"Tax decisions are subject to unanimity, meaning that any EU country could veto the commission if it were to call for a financial sector tax as part of proposals expected later this year."

It sure sounds like they are referring to an FTT here. But the good news is that any EU country can veto the commission (ie UK or Germany).

-Guru
 
http://uk.reuters.com/article/2011/06/20/eu-g20-tax-idUKLDE75J1O620110620

(Reuters) - The European Commission will make a proposal for a law on a financial transaction tax in the EU later this year and seek agreement on a global financial transaction tax at the G20 leaders' meeting in November.


http://news.xin.msn.com/en/business/article.aspx?cp-documentid=4953907


EU financial transaction tax legislation eyed 'after summer'


The European Commission will propose after the summer legislation to impose a tax on financial transactions in the European Union, the EU's executive branch said Monday.

-Guru
 
Quote from listedguru:

http://uk.reuters.com/article/2011/06/20/eu-g20-tax-idUKLDE75J1O620110620

(Reuters) - The European Commission will make a proposal for a law on a financial transaction tax in the EU later this year and seek agreement on a global financial transaction tax at the G20 leaders' meeting in November.


http://news.xin.msn.com/en/business/article.aspx?cp-documentid=4953907


EU financial transaction tax legislation eyed 'after summer'


The European Commission will propose after the summer legislation to impose a tax on financial transactions in the European Union, the EU's executive branch said Monday.

-Guru
More...

I don't see where EC President Barroso comes out and specifically mentions the FTT.

He says:

"In line with the conclusions of our last meeting, the Commission is completing its impact assessment and will present a formal legislative proposal after the summer,"

"Our analysis shows that there is a strong case for deciding on a financial sector tax in the EU as a first step,"

I wonder if these articles that are saying the EC is going to propose legislation on an EU only FTT are incorrect? I mean Barroso says the EC is still completing it's impact assessment (which includes an EU only FAT).

Maybe I'm mistaken here? Either way any EU country can veto an EC proposal so all it would take is for the UK (and or Germany) to say no which is very likely. And as far as the FTT coming to america well thats just not likely either.

-Guru
 
Quote from ksharmon:

DJ EU's Barnier supports "modest" financial transaction tax

Headline just crossing a few minutes ago
More...

6800+ posts and ET posters still post nonsense about a "modest" financial transaction tax. there is NO such an animal as a modest FTT tax if you are a professional trader who is leveraged and turns over his portfolio numerous times in a year.
please stop posting this nonsense about a FTT. a ftt of .0001, which seems small, would end the day trading business in the business in US stocks.
it is disgusting that ET is full of mathematical illiterates who have the need to post.
 
You must log in or register to reply here.
Back
Top