1/4% Tax on all stock trades pushed in NY Times today
- Thread starter seasideheights
- Start date
Swedish Prime Minister Frederik Reinfeldt: 'I am against the FTT'
âWe have calculated in Sweden that the losses linked to decrease in GDP is even bigger than the incomes that were to be given by the FTT,â Reinfeldt said.
http://www.neurope.eu/article/swedish-prime-minister-frederik-reinfeldt-i-am-against-ftt
âWe have calculated in Sweden that the losses linked to decrease in GDP is even bigger than the incomes that were to be given by the FTT,â Reinfeldt said.
http://www.neurope.eu/article/swedish-prime-minister-frederik-reinfeldt-i-am-against-ftt
Sorry,trying to keep up with latest developments, but on the subject of taxation of non EZ jurisdiction traders when they would trade with Eurozone FFT taxed institutions, I think I read somewhere in the september EC proposal that in that case, the full burden of the tax would fall on the EZ taxed institution( they would have to pay it 2 times, for themselves and for their counterpart ). I am not totally sure( I read it 3 months ago ) but I recall something of this substance, so I don't understand why british have second thoughts about it, the EZ tax would be good for them( relocation > smaller volume from EZ counterparts and no tax to pay in any case by UK traders).
Apart from that, I don't even understand how this would work( taxing for example an american trading with a german ). It's against any fiscal logic and even against the residence principle of the proposal. Do you think CME for example will create some peace of software exclusively to count EZ traders tax? They have no obligation to do that. They would immediately have to create other software to display potential EZ taxed counterpart on order books for american customers( so that they don't get taxed ). It's just impossible. They would just stop to accept EZ traders instead, for those still at work, if they exists...LOL
Apart from that, I don't even understand how this would work( taxing for example an american trading with a german ). It's against any fiscal logic and even against the residence principle of the proposal. Do you think CME for example will create some peace of software exclusively to count EZ traders tax? They have no obligation to do that. They would immediately have to create other software to display potential EZ taxed counterpart on order books for american customers( so that they don't get taxed ). It's just impossible. They would just stop to accept EZ traders instead, for those still at work, if they exists...LOL
The FTT would burn London to the ground making Germany the de facto ruler of Europe. Of course, the French are the perfect collaborators.
"Hitler never abandoned the cloak of legality. He recognized the enormous psychological value of having the law on his side. Instead, he turned the law inside out and made illegality legal." -- Robert Byrd
no mention of tax in draft
I have a real bad feeling about this thing.
HARTFORD â Susan Bysiewicz laid out her foremost initiatives â if she wins the U.S. Senate seat for which she is running â during a press conference Thursday.
Among the points she details in a 35-page plan, the former secretary of the state is proposing a transaction tax on all stock trades. The tax â 0.25 percent for the seller and 0.25 percent for the buyer â would generate, she said, $150 billion.
http://www.registercitizen.com/articles/2011/12/08/news/doc4ee166193e8f0836275245.txt
Among the points she details in a 35-page plan, the former secretary of the state is proposing a transaction tax on all stock trades. The tax â 0.25 percent for the seller and 0.25 percent for the buyer â would generate, she said, $150 billion.
http://www.registercitizen.com/articles/2011/12/08/news/doc4ee166193e8f0836275245.txt
As I understand well, this is the draft that Germany (Merkel) has rejected (Germany has rejected all proposals from everyone almost immediately yesterday). Germany seems to be not open for any reason. They arrogantly want to push their own plan (which includes the FTT) at all costs, and who don't join them is out. Germany seems convinced that most countries don't have the courage to withstand them, even if they push a FTT which many don't want, afraid as those countries are that the Euro will fall. Pure hardball as Robert A. Green already stated.
Too bad that here in The Netherlands almost nobody cares about a FTT. It's becoming a crucial item at the EU summit and the media here doesn't even mention it, nor there is discussion about it on local fora. Even active investors don't seem to understand how dangerous a FTT is for their business. Very frustrating.