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

Quote from Xspurt:

not being American I don't know how your system works. How long until this would take effect at the earliest?
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Most bills introduced die, so we never know, it has to be debated voted on by house then senate, then merged into one bill then passed. Being introduced just means they offically put the bill into the house, not its up to the house to discuss it or ignore it. They have ignored his bill from Feb of this year.
 
Democrat Senator Carl Levin of Michigan has said he doubts a second stimulus would work, but would support using TARP money to fund any jobs bill. He doesn't mention favoring or not favoring a transaction tax, but you can tell by reading this article, I don't think he would support any tax, much less a trader tax.
His direct quote, "I'd be all for another stimulus if it would work." "But I don't think there's a lot of evidence that it would succeed." Levin said a better idea would be to take leftover money from the $700 billion Wall Street bailout fund and direct it toward stimulus-style projects.



http://www.foxnews.com/politics/200...doubts-benefits-second-stimulus/?test=economy
 
Obama just mentioned Blinder and Mishel 2 guys on tv this past week for the tax, but Obama mentioned the good idea from them were job tax credits nothing about the tax which is good so far. He is going over all teh good ideas from the meeting and has not mentioned that tax yet, so hopefully he wont!
 
Obama is talking right now with a summary of the job summit. He said that he only sat in on two of the meetings throughout the day, and was not involved in the meeting that discussed new ideas for taxes/revenue. He mainly sat in on the meetings having to do with the environment/green jobs, etc... So hopefully, none of these liberal economist asswipes was able to speak with him about a trader tax.
 
There is a third update to the Bloomberg piece posted earlier.

Here is a new quote:

Christopher Bergin, president and publisher of Tax Analysts, a Falls Church, Virginia publisher of tax information, predicted the lobby groups will successfully fend off the proposal.

“Willie Sutton robbed banks because that’s were the money is,” Bergin said. “There’s certainly money” in taxing stock and derivative trades, “but this bank is just too well guarded” by lobbyists who oppose the idea, he said.
 
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