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

My guess is, that Borg is on par with IMF director Lagarde on this, not looking for a new 'enhanced' sort of FTT, but for an *alternative* to the FTT, such as (e.g.) a bank levy or a FAT.

The financial sector should be subject to greater taxation, but taxing financial transactions may not be the best solution, International Monetary Fund Managing Director Christine Lagarde said on Monday. "The financial sector must contribute more," she told the German Council For Foreign Relations in Berlin, but "I would tend to favour a system that is based on the sum of profits, compensation, and salaries, in general." "I would not jump to the FTT [Financial Transaction Tax] because it is the FTT," she added. However, "we have to find a way to make the financial sector contribute more."
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Angela Merkel in 'Tobin tax' jibe at Britain

http://www.telegraph.co.uk/finance/...gela-Merkel-in-Tobin-tax-jibe-at-Britain.html

Angela Merkel said that the failure to fully endorse the financial transaction tax (FTT) was one of the key areas where European efforts to stem the crisis were "insufficient."

In a thinly-disguised attack on David Cameron and the British opposition to the controversial tax, the German Chancellor said "lessons needed to be learned" from the failure.

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But does she give up for now, or will she go on with trying to push an EZ-FTT?
 
Quote from FightTheFuture:

"State of the Union Address....Mr Obama said he would 'fight obstruction with action'. Fighting words, those. He proposed new minimum taxes for multinationals and for millionaires. Banks came under what have become his usual attacks, with threats of a new financial transactions tax..."

http://www.dailymail.co.uk/debate/a...-end-partisan-politics.html?ito=feeds-newsxml
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Where's the reporter getting that from?
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These reporters, like the huffington post reporters, are liberal shills and blantenly lie. There was no mention of FTT at all in the SOTU.
 
Quote from Stok:

These reporters, like the huffington post reporters, are liberal shills and blantenly lie. There was no mention of FTT at all in the SOTU.
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Hmmm, not so sure of that.

"That's why I'm sending this Congress a plan that gives every responsible homeowner the chance to save about $3,000 a year on their mortgage, by refinancing at historically low interest rates. No more red tape. No more runaround from the banks. A small fee on the largest financial institutions will ensure that it won't add to the deficit, and will give banks that were rescued by taxpayers a chance to repay a deficit of trust.
 
Quote from trendy:

Hmmm, not so sure of that.

"That's why I'm sending this Congress a plan that gives every responsible homeowner the chance to save about $3,000 a year on their mortgage, by refinancing at historically low interest rates. No more red tape. No more runaround from the banks. A small fee on the largest financial institutions will ensure that it won't add to the deficit, and will give banks that were rescued by taxpayers a chance to repay a deficit of trust.
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Welp, maybe or maybe not. It could be the FTT or the levy odumbo has been pushing. If he is referring to the FTT....then game over traders. And game over NYC and Chitown. Odumbo is defiantly pandering to the pathetic OWS slackers for votes.
 
Quote from Stok:

Welp, maybe or maybe not. It could be the FTT or the levy odumbo has been pushing. If he is referring to the FTT....then game over traders. And game over NYC and Chitown. Odumbo is defiantly pandering to the pathetic OWS slackers for votes.
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It was not FTT. He was referring to taxation on bank assets. For every $1 billion in bank assets, financial institutions would be subjected to a fee of $1.5 million dollars. Small banks are exempted from this.
 
Gingrich: I want to build a moon base

I think Romney ;)



Danish Presidency's Fiscal Priorities Don't Include FTT

http://www.tax-news.com/news/Danish_Presidencys_Fiscal_Priorities_Dont_Include_FTT____53647.html

As regards efforts to promote cooperation in specific areas, Denmark’s Prime Minister Helle Throning-Schmidt recently confirmed that Denmark is open to discussion on the subject of a financial transactions tax, and that if some countries were eager to speed up discussions, then the Danish government would be willing to facilitate this request.

The Danish Prime Minister nevertheless underscored Denmark’s preference for a financial transactions tax imposed at global level, expressing concerns that a tax imposed merely at European-level could adversely affect both the economy and employment – key priority areas for the Danish Presidency – and that the European Commission’s September proposals might not be robust enough.

Thorning-Schmidt underlined the need to listen to the advice of experts, who have warned of relocations as a result – an allusion to events in Sweden, where taxes on financial and currency transactions were introduced in the 1980s, although abolished shortly afterwards as trading volumes plummeted.

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The European Union's plan for a financial transaction tax is "simply madness", Britain's Prime Minister David Cameron said on Thursday.

"Even to be considering this at a time when we are struggling to get our economies growing is quite simply madness," Cameron said in a speech at the World Economic Forum in Davos.

"Of course it's right that the financial sector should pay their share. In the UK we are doing exactly that through our bank levies and stamp duty on shares. And these are options which other countries can adopt," Cameron added.

"But look at the European Commission's own original analysis. That showed a Financial Transactions Tax could reduce the GDP of the EU by 200 billion euros, cost nearly 500,000 jobs and force as much as 90 per cent of some markets away from the EU."
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http://www.expatica.com/ch/news/swiss-news/eu-financial-transaction-tax-madness--cameron_203863.html
 
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