1/4% Tax on all stock trades pushed in NY Times today
- Thread starter seasideheights
- Start date
Forbes is totally wrong on the impact on NYSE and NASDAQ stock( the downside is a lot more than 5-6 % ) but I wanted to post this just for the Sarko-Merkel pic:
http://www.forbes.com/sites/greatsp...tion-tax-could-hurt-nyse-euronext-nasdaq-omx/
http://www.forbes.com/sites/greatsp...tion-tax-could-hurt-nyse-euronext-nasdaq-omx/
Eu to push for financial transaction tax at G20:
http://uk.reuters.com/article/2011/08/31/g20-eu-tax-idUKLDE77U0QL20110831
Aug 31 (Reuters) - The European Union will push for the adoption of a financial transaction tax at a summit of the world's 20 biggest economies, the G20, in November, European Commission President Jose Manuel Barroso said on Wednesday.
"Ahead of the Cannes summit, we will come out with a proposal for a European financial transaction tax and we are committed to explore this further also at the G20 level," Barroso said in a televised address."
-Guru
http://uk.reuters.com/article/2011/08/31/g20-eu-tax-idUKLDE77U0QL20110831
Aug 31 (Reuters) - The European Union will push for the adoption of a financial transaction tax at a summit of the world's 20 biggest economies, the G20, in November, European Commission President Jose Manuel Barroso said on Wednesday.
"Ahead of the Cannes summit, we will come out with a proposal for a European financial transaction tax and we are committed to explore this further also at the G20 level," Barroso said in a televised address."
-Guru
"Flawed" financial tax plan could raise volatility
http://uk.reuters.com/article/2011/08/17/uk-eurozone-britain-tax-idUKTRE77G6HP20110817
(Reuters) - France and Germany should abandon "economically illiterate" proposals for a tax on financial transactions because a tax could make markets more volatile rather than bring stability, a free market think tank said on Thursday. The London-based Adam Smith Institute said numerous academic studies suggest such a tax would lead to more erratic movements in equity and foreign exchange markets, falling share prices and poor liquidity.
www.adamsmith.org/files/ASI_Tobin_Tax_2011.pdf
http://uk.reuters.com/article/2011/08/17/uk-eurozone-britain-tax-idUKTRE77G6HP20110817
(Reuters) - France and Germany should abandon "economically illiterate" proposals for a tax on financial transactions because a tax could make markets more volatile rather than bring stability, a free market think tank said on Thursday. The London-based Adam Smith Institute said numerous academic studies suggest such a tax would lead to more erratic movements in equity and foreign exchange markets, falling share prices and poor liquidity.
www.adamsmith.org/files/ASI_Tobin_Tax_2011.pdf
How Will We Pay for Obama's New Jobs Push? Answer: Tax Wall Street
http://www.thenation.com/blog/163059/how-will-we-pay-obamas-new-jobs-push-answer-tax-wall-street
http://www.thenation.com/blog/163059/how-will-we-pay-obamas-new-jobs-push-answer-tax-wall-street
I just voted it down. Everyone join in & do it too.
We need to umm tax all those hedge fund managers, private jet owners and corporate fat cats. We need to raise taxes, so we can provide more benefits to illegal aliens and Muslims.
PS- Everything bad is Bush's fault. I'm not responsible for anything. Where's my teleprompter?
-Barack Obama
From a speech delivered by Sarkozy to French ambassadors:-
[But] I wanted the G20 to discuss development financing as well. Given how difficult it is for the developed countries to increase public assistance, and given the scope of the challenges to be met in the most vulnerable countries, everyone knows that innovative financing is a necessity. I have long championed the creation of a tax on financial transactions. During my meeting with Chancellor Merkel on August 16, we decided that France and Germany would present a proposal to our European partners in September. Our objective is for Europe to set an example of what can be done, so that the others rally to this initiative in Cannes. During the next two months, I want you to actively champion this idea in the countries where you are posted. France is and will remain in the vanguard of the fight on behalf of the poorest of the poor.
http://www.isria.com/pages/1_September_2011_2.php
The poor fellow is deluded.
[But] I wanted the G20 to discuss development financing as well. Given how difficult it is for the developed countries to increase public assistance, and given the scope of the challenges to be met in the most vulnerable countries, everyone knows that innovative financing is a necessity. I have long championed the creation of a tax on financial transactions. During my meeting with Chancellor Merkel on August 16, we decided that France and Germany would present a proposal to our European partners in September. Our objective is for Europe to set an example of what can be done, so that the others rally to this initiative in Cannes. During the next two months, I want you to actively champion this idea in the countries where you are posted. France is and will remain in the vanguard of the fight on behalf of the poorest of the poor.
http://www.isria.com/pages/1_September_2011_2.php
The poor fellow is deluded.
Schaeuble seems to acknowledge defeat at EU 27 level :-
(in German)
http://www.zeit.de/news/2011-09/parteien-eu-weite-finanztransaktionssteuer-wackelt-01110009
(in German)
http://www.zeit.de/news/2011-09/parteien-eu-weite-finanztransaktionssteuer-wackelt-01110009