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1/4% Tax on all stock trades pushed in NY Times today
- Thread starter seasideheights
- Start date
Amid anxiety, jobs bill takes shape on the Hill
"Some liberal lawmakers have signed on to a proposal by Rep. Peter DeFazio (D-Ore.) to fund a jobs bill and other spending priorities with a new tax on financial transactions, but that idea has drawn little support from Democratic leaders and staunch opposition from the Treasury Department as well as Wall Street."
http://voices.washingtonpost.com/capitol-briefing/2009/12/amid_anxiety_jobs_bill_takes_s.html
-Guru
"Some liberal lawmakers have signed on to a proposal by Rep. Peter DeFazio (D-Ore.) to fund a jobs bill and other spending priorities with a new tax on financial transactions, but that idea has drawn little support from Democratic leaders and staunch opposition from the Treasury Department as well as Wall Street."
http://voices.washingtonpost.com/capitol-briefing/2009/12/amid_anxiety_jobs_bill_takes_s.html
-Guru
"Some liberal lawmakers have signed on to a proposal by Rep. Peter DeFazio (D-Ore.) to fund a jobs bill and other spending priorities with a new tax on financial transactions, but that idea has drawn little support from Democratic leaders and staunch opposition from the Treasury Department as well as Wall Street."
This idea is still on the fringe lets hope it stays there.
This idea is still on the fringe lets hope it stays there.
Quote from jksn922:
Their proposing this internationally on "U.S. Citizens" that trade from other countries. They can't touch citizens of other countries that don't have this tax. This is why I've been exploring the whole citizenship thing with Canada, as they wouldn't be able to impose this tax on a U.S. citizen that was able to obtain citizenship in another country, and they traded from there.
people will just repeat the same incorrect thing over and over. the tax will be collected by the american ecn and exchanges. it has nothing to do with your nationality or where u trade from.
Quote from zdreg:
people will just repeat the same incorrect thing over and over. the tax will be collected by the american ecn and exchanges. it has nothing to do with your nationality or where u trade from.
If this tax ever sees the light of the day in US and Europe, there still will be few places, in the world that will not abide by it, and the business will shift there. Places like SGX, HKFE, KSE or DME will reap huge rewards.
Our solution will be to open offshore corporate account (this does not cost too much these days) and trade via this entity on exchanges that do not support this tax. There is no way the whole world unanimously will sign off on this stupid thing.
This law, if it ever happens, will have many loopholes, and unless all you have is 5K account, there will be ways to go around it.
Quote from zdreg:
people will just repeat the same incorrect thing over and over. the tax will be collected by the american ecn and exchanges. it has nothing to do with your nationality or where u trade from.
An ecn exchange is a room full of servers, don't you think Dubai, Hong Kong, Switzerland, or other country has are room for a few servers.
If a few 10ths of a penny rebate affect what ecns people trade from now, imagine a .25 transaction tax thrown in the mix.... The US exchanges will perish.
Expatriation tax: http://www.irs.gov/businesses/small/international/article/0,,id=97245,00.htmlQuote from PlusMinus:
The IRS can go after an ex-citizen for 10 years after they denounced their citizenship? WTF? Wouldn't that depend highly on the laws and opinions of the person's new country? It's one thing if you owed taxes for years prior to your having denounced your citizenship, but for the period after? On what basis?
I really think Obama and the administrations commentary over the next several days is going to be very telling after meeting with the EPI and their union thugs. I really do think they'll have to address the tax as it will be pushed in the meeting and we'll really know where O and his boys stand.
Quote from RedDuke:
If this tax ever sees the light of the day in US and Europe, there still will be few places, in the world that will not abide by it, and the business will shift there. Places like SGX, HKFE, KSE or DME will reap huge rewards.
Our solution will be to open offshore corporate account (this does not cost too much these days) and trade via this entity on exchanges that do not support this tax. There is no way the whole world unanimously will sign off on this stupid thing.
This law, if it ever happens, will have many loopholes, and unless all you have is 5K account, there will be ways to go around it.
hong kong has a stamp tax for hong kong stocks
http://www.gov.hk/en/residents/taxes/stamp/stamp_duty_rates.htm
the only loophole will be for goldman and market makers.