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

rsikit · Sep 4, 2009

One thing to watch for is if any statement comes out of the g-20 meeting about this thing, so far nothing.

Scataphagos · Sep 4, 2009

Quote from Xspurt:

"... It seems like there's a commie agenda to destroy the foundations of capitalism.

Known in America as "Obamanomics".. :mad:

listedguru · Sep 4, 2009

Quote from rsikit:

One thing to watch for is if any statement comes out of the g-20 meeting about this thing, so far nothing.

This will definately get talked about at the G20:

http://www.guardian.co.uk/world/2009/aug/27/g20-tobin-tax-poverty-aids

rsikit · Sep 4, 2009

The protestors will be there but lets see if any countries bring it up, so far stuff coming out of it has been about the exit strategies and caps on bonuses today, which Geitner who is there was not in support of.

FB123 · Sep 4, 2009

Quote from rsikit:

The protestors will be there but lets see if any countries bring it up, so far stuff coming out of it has been about the exit strategies and caps on bonuses today, which Geitner who is there was not in support of.

If the G20 ministers actually start seriously discussing this, that's when it will be the time to worry.

rsikit · Sep 4, 2009

Yes I agree, we know at every g-20 , g-8 , imf or wto meeting there is always protestors for this tax they call them hippies

So we also know that some of the g-20 countries like the tax, we know some have had it and repealed it but when most start talking about it then its time to worry.

rsikit · Sep 4, 2009

Its got all the hype right now because we are near one of these meetings and the people are trying to get it talked about there!

sophiekay · Sep 4, 2009

You forgot to add in the Global Transaction Tax. The Global Tax would be in addition to the US Tobin Tax. And the US Tobin Tax would be in addition to the already high Ordinary Tax.

So, each Financial Transaction would be taxed 3 times.

Quote from zdreg:

gkishot

Registered: Jul 2005
Posts: 1247

09-03-09 09:15 AM

Minimum annual transaction tax with one turnover per day ( 1 buy and 1 sell) and $100,000 of capital is:

$100,000 * 0.001 * 2 * 250 days = $50,000

FB123 · Sep 4, 2009

Quote from rsikit:

Its got all the hype right now because we are near one of these meetings and the people are trying to get it talked about there!

Yeah, someone's paying someone for all this media coverage - it ain't coming from nowhere. I can't believe that finance ministers would seriously be stupid enough to try to throw grit into the gears of the world's financial machine, especially not under current circumstances.

risktaker · Sep 4, 2009

What Global Transaction Tax are you talking about?

There's no global authority to tax anything. Not Yet!

Quote from sophiekay:

You forgot to add in the Global Transaction Tax. The Global Tax would be in addition to the US Tobin Tax. And the US Tobin Tax would be in addition to the already high Ordinary Tax.

So, each Financial Transaction would be taxed 3 times.