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

Quote from MrPowerBallad:

So they took a poll in the UK and the public there supports a tax -- part of the money to be used to save the children of Mumbai -- typical Gaurdian article:

http://www.guardian.co.uk/business/2009/nov/23/brown-urges-business-leaders-to-accept-tobin-tax
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From that article:

"German chancellor Angela Merkel has suggested that taxing financial transactions could help to meet the costs of climate change for developing countries, and President Obama is also thought to be interested in the idea, despite the sceptical response of his Treasury secretary, Tim Geithner, in St Andrews."

http://www.guardian.co.uk/business/2009/nov/23/brown-urges-business-leaders-to-accept-tobin-tax
 
Thats Guardian spin pulling from an article on the g20 meeting in Sept where guardian said Obama administration was interested in it, also thats when Merkel was saying that exact thing before her elections. Since she was re-eleceted with her coalition she has not said a peep about the tobin. She has appointed a new finance minister since the g20 meeting, he was fro the tax. But nothing since. Geither has spoke for the administration several times, even Defazio admitted that the other night. So becareful of the Guardian spin, but remain vigilant.
 
Plus I like how the OXFAM guy keeps talking as if the money would goto third world. The only reason why congress brought it up here was because of jobs and the defecit, nothing more. No money would be funneled the way OXFAM wants
 
Quote from seasideheights:

From that article:

"German chancellor Angela Merkel has suggested that taxing financial transactions could help to meet the costs of climate change for developing countries, and President Obama is also thought to be interested in the idea, despite the sceptical response of his Treasury secretary, Tim Geithner, in St Andrews."

http://www.guardian.co.uk/business/2009/nov/23/brown-urges-business-leaders-to-accept-tobin-tax
More...

Merkel aides have ruled out support of the tax after their election victory, and there is no proof whatsoever that the Obama administration is or is willing to support the tax. This is the guardian trying to drum up support that isn't there. The tax is dead and has no chance whatsoever of getting implemented in the future. There has never been an international agreement on taxation and the US Senate on several occasions has said it will never allow anyone other the US to set its tax policies. Brown is out as PM by next summer, no one is willing to expend the political capital for any of his initiatives.
 
U.S. President Barack Obama has also noted the need for “a Financial Stability Fee on the financial services industry so Wall Street foots the bill -- not the American taxpayer

This is what papers are taking as an Obama support of the tobin tax. This line was as the financial crisis started and right before elecetions,, this is what he said. When he said fee its what Tim Geithner has been talking about. But they are spinning it to be trasnaction tax
 
Let the Euro Zone try it first. Then the US will sit back and take all the buisness here! We say it has to be international rule but as soon as someone doest it first we wont, and we shall take their business, we want their money. The ECB Trichet is not for this tax, strongly opposed. This guy who is the new pres is always been know to want this tax. Good luck on getting 27 countries to do it. But I hope he does and then we can have more money flow here, lessening our need for the tax, plus we can see how hard it hits their economy. Plus he wont become president till Jan hopefully after our jobs bill. The we can see what happens. I am skeptical about things but the one thing I do have faith in is the senate, It will not pass the senate. The house maybe with Nazi Pelosi, but senate is a different story. Then once 2010 rolls around no one will want to do anything scary or new becuase of the mid terms. April will be big as well. If the IMF comes out with their study and hopfully it leans to the insurance levy and not the tax thats a good step. Unfortunately we will be seeing these articles for the tax for a long time to come becuase of the bias in Europe where almost all the NGO'S for the tax are based.

Here is another article from 2 hours ago.

http://online.wsj.com/article/SB125894389767760063.html
 
Just so no one is surprised there is a CBI meeting with governement officals in teh UK Brown and Adair turner, so they will bring up Tobin tax. This was a schuedled meeting for some time, and its been know since the summer they will bring up the tax at this meeting, so no one freak to much about alot of articles that might come out of the UK :)
 
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