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

Quote from FightTheFuture:

The Danish Presidency is pursuing two parallel options: that of "alternative solutions" to the FTT (tax on financial activities, bank levies, etc), which are set to be examined by the experts on 1 June, and that of a light FTT.

Copenhagen suggests that the scope of the tax could initially be limited to trading in shares and bonds on the secondary market and "possibly" to undertakings for collective investment. Only at a later stage should it "possibly" be extended to derivatives.

http://www.europolitics.info/econom...cy-admits-its-powerlessness-art335626-30.html
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Well let's hope these so called experts give a thumbs up to either a fat tax or some other direct tax on banks. We all know that even a 'light' ftt would put us all out of business so thats not an option:)

-Guru
 
Quote from FightTheFuture:

Taxation goes global

People are no longer classified by sex or race in most countries when it comes to voting rights, but it is fashionable to classify people by income or occupation and then tax them differently - thus denying a fundamental human right of equal treatment.

http://www.washingtontimes.com/news/2012/jun/4/taxation-goes-global/
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That article is scary, and it is what is coming in the future. One of the reasons the liberal dems want to destroy the USA is to allow this type if one world guberment to exsist.
 
Quote from listedguru:

Well let's hope these so called experts give a thumbs up to either a fat tax or some other direct tax on banks. We all know that even a 'light' ftt would put us all out of business so thats not an option:)

-Guru
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he who is more powerful wins.

tell me who is more powerful the banks or the posters on ET.
let us not forget those not so bright individuals on ET who would like to put the hft traders, our natural allies, out of business.
 
Quote from Explorer:

http://www.thelocal.de/politics/20120605-42959.html
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"Merkel is reported to have introduced the idea of a market tax at Monday's meeting, and the FDP, traditionally a low-tax party, said it was not opposed in principle. But FDP parliamentary leader Rainer Brüderle warned that a financial transaction tax would not be a good idea, as it would inevitably, like a value-added taxes, eventually be passed on to the consumer."

It sounds like Germany might be looking into other options for taxing the markets then just a ftt. How about a direct tax on banks like a fat tax? I guess we'll see what this 'working group' comes up with.

-Guru
 
(Reuters) - Germany's government and main opposition agreed the outlines of a proposal for a European financial transaction tax on Thursday, which could pave the way for parliament to approve a fiscal pact and permanent rescue scheme for the euro zone.

Two lawmakers, one from Chancellor Angela Merkel's coalition and one from the centre left, said the deal had been reached by a parliamentary working group and would be discussed by leaders of the parties next Monday.

"We have reached a breakthrough. The paper proposed by the finance ministry is a path to agreement on the main points," a senior MP from Merkel's Free Democrat (FDP) coalition allies, Volker Wissing, told Reuters.

Joachim Poss from the main opposition Social Democrats (SPD) said the paper was an important step towards reaching agreement on the financial transaction tax. The SPD has linked progress on the financial transaction tax to their approval for Merkel's fiscal compact and the European Stability

http://www.reuters.com/article/2012/06/07/eurozone-germany-tax-idUSB4E8G701720120607
 
Seems that FDP is giving up their resistance

http://www.ftd.de/politik/europa/:f...schlaegt-mini-boersensteuer-vor/70047272.html

Google translation (mostly)

Schäuble proposed mini-market tax

Federal government and the opposition to haggle over the financial transactions tax. On the table is a proposal by Finance Minister Schäuble, stocks, bonds and derivatives, wants to tax with a low rate. The fact that not everyone is on board EU countries is taken into account.

In negotiations with the SPD and Greens on the ratification of the European fiscal pact, the federal government proposes to introduce a tax on financial market in Germany. "Such taxation should include all financial instruments as possible and be realized with a broad tax base with low tax rate," it said in a presentation of the finance department for the negotiations. The paper is in front of FTD. Specifically, stocks and bonds should be a tax rate of 0.1 percent, derivatives are subject to a tax rate of 0.01 percent.

In order not to harm the financial center of Frankfurt, the tax should be designed so that no business migrated to tax havens, says the paper continued. Investors that invest only small amounts of savings or private investments for pensions should be exempt from deductions from the tax. These two points were particularly important were the FDP, which had recently given up their blockade of a financial transaction tax.

In order to introduce the tax as quickly as possible, the department of finance proposes Minister Wolfgang Schäuble (CDU), go ahead, if necessary, in a small group of EU countries. "In the event that the agreement of all 27 Member States and thus the required unanimity will not be reached, the Federal Government shall, together with other Member States, such a tax can in as many Member States through increased cooperation or intergovernmental co-operation be introduced" , before beating Schäuble officials. Momentary Germany could also be based at the British stamp tax or the proposed transaction tax in France.

Whether the SPD and the Greens agree with the proposal, will be negotiated on Thursday by professional politicians. The Greens had rejected in advance an exception for Riester policies. The SPD insists on the promise that the agreed key points for a transaction tax will be decided by the Federal Cabinet. Thereof, in the presentation of the finance department, however, is no question.
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