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

[rsikit]

US Geithner Doesn't Support Day-By-Day Financial Transaction Tax



Meena Thiruvengadam

Of Dow Jones Newswires

ST. ANDREWS, Scotland -(Dow Jones)- U.S. Treasury Secretary Timothy Geithner on Saturday suggested the U.S. isn't in full agreement with U.K. Prime Minister Gordon Brown's idea to impose a global tax on financial transactions.

"A day-by-day financial transaction tax is not something we're prepared to support," he said in a television interview with Jeff Randall of Sky News.

Geithner, however, did say the Group of 20 leading economies is committed to protecting taxpayers from risks related to future losses in the financial sector.

By Meena Thiruvengadam, Dow Jones Newswires;

 

[rsikit]

Jsut love seeing this over and over again

Breaking News4:29pm UK, Saturday November 07, 2009
G20: Geithner Rejects Brown 'Bank Tax' Plan
Joe Braidwood, Sky News Online

The US Treasury Secretary Timothy Geithner has told Sky News he is "not prepared" to support Gordon Brown's plan for a financial transaction levy.

Earlier, the Prime Minister called on G20 leaders to consider a tax on financial transactions to protect taxpayers and make banks more accountable.

The money collected could be held in a global fund to bail out failed banks, Mr Brown suggested.

But Mr Geithner's rejection of the proposal will deal a fatal blow to the Government's ambitions.

 

[rsikit]

Here is a video of how he wantsd to collect a bank fee with out hitting the reatil and pension fund

http://news.sky.com/skynews/Home/Bu...ot_Prepared_To_Accept_Browns_Transaction_Levy

 

[rsikit]

And this article is from the Russian finance minister who says he is quite skeptical of Browns proposal, can you beleive that from a cash starvedd nation

http://www.easybourse.com/bourse/ac...-nation-pushed-for-early-stimulus-exit-757727

 

[rsikit]

Now from the canadian finance minister:

On transaction tax:

"That discussion is worthwhile having, in the context that financial institutions if they get in trouble should bear the consequences of their own demise. It's one of the ideas that's on the table, but is not particularly attractive to me as finance minister of Canada. We have been a government that has been reducing taxes."

 

[TraDaToR]

Where are guru and seasideheights? They will collapse seeing the news...

 

[rsikit]

I have been in contact with Guru and he is definately excited! Not sure where seaside is. It is the weekend I guess I have nothing better todo

 

[TraDaToR]

Me too...LOL...I came to my computer thinking I would research new instruments for strats, perhaps write a piece of code but when I saw the news, I chose to celebrate instead... LOL.

 

[rsikit]

Ditto, I was working on some things this weekend and now said screw it! I am always planning ahead so I have been working on some longer term strategies incase this ever happened I am going to relax today!

 

[FightTheFuture]

Comments from UK citizens regarding Brown and his Tobin-transaction tax are about 95% against the tax.

They are aware that the cost of the bank's transactions will be passed onto the people.