1/4% Tax on all stock trades pushed in NY Times today
- Thread starter seasideheights
- Start date
Thanks rsikit, it seem to me that we will starting to see some key figures distance themselves from this proposal. I don't believe we will see a transaction tax in 2010.
Good article, thanks. Here are a couple highlights:
Lobbyists for securities firms, brokers and banks are all watching the debate but believe it ultimately will fail.
"The Obama administration clearly does not support a daily transaction tax," Anne Mathias, an analyst in Washington at Concept Capital, told clients in a note. "We cannot completely dismiss the slight possibility it could be part of a House jobs bill in the next month or so, but we think even if it cleared the House it would have virtually no chance in the Senate."
He has absolutely zero pull with this administration. He messed up when it came to the stimulus vote and voted against it. He also keeps calling out Summers, I think he has a secret death wish when it comes to his proposed legislation. Defazio is a bottom feeding legislator with no pull in congress. I personally enjoy watching his slow legislative death.
here is the irony, these job creations hes talking about are only temporary until the job gets done. one of my good buddies is an electrician a noble job but he is unemployed every year and half or so because his job is ending. not for nothing the people that work on wall street or in the financial business make more money and pay more taxes to the government than these union workers. not to mention if its a non union job these projects get put together with a lot of help from the black market or the under the table crew, wheres that tax revenue gonna come from. again counter productive that is the issue with this tax. he blasts tax cuts which is ridiculous because basic econmics states tax cuts stimulate the economy and raising taxes stiffles it. prove me wrong on that last sentence i am listening.
House Dems Mull Ways To Pay For New Job-Creation Bill
http://www.easybourse.com/bourse/ac...-ways-to-pay-for-new-job-creation-bill-763149
When asked if one way to pay for a job-creation bill would be a tax on financial transactions, House Majority Leader Steny Hoyer (D., Md.) said all options are on the table.
Speaking to reporters, Hoyer declined to say whether he personally supported the measure, or if it was being given serious consideration by leadership. But he acknowledged the idea was being given consideration along with other proposals to pay for a jobs package.
Ways and Means Chairman Charles Rangel (D., N.Y.) similarly declined to say whether he supported such a tax.
Rep. John Larson (D., Conn.), the No. 4 House Democrat, said Wednesday he is in favor of such a tax, saying it "is time for Wall Street to contribute to the growth of Main Street."
Rep. Louise Slaughter (D., N.Y.), the chairwoman of the House Rules Committee, said that she would only support a transaction tax if it was implemented by other countries at the same time.
http://www.easybourse.com/bourse/ac...-ways-to-pay-for-new-job-creation-bill-763149
When asked if one way to pay for a job-creation bill would be a tax on financial transactions, House Majority Leader Steny Hoyer (D., Md.) said all options are on the table.
Speaking to reporters, Hoyer declined to say whether he personally supported the measure, or if it was being given serious consideration by leadership. But he acknowledged the idea was being given consideration along with other proposals to pay for a jobs package.
Ways and Means Chairman Charles Rangel (D., N.Y.) similarly declined to say whether he supported such a tax.
Rep. John Larson (D., Conn.), the No. 4 House Democrat, said Wednesday he is in favor of such a tax, saying it "is time for Wall Street to contribute to the growth of Main Street."
Rep. Louise Slaughter (D., N.Y.), the chairwoman of the House Rules Committee, said that she would only support a transaction tax if it was implemented by other countries at the same time.