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

Quote from MrPowerBallad:

They made a big deal about including some sort of wording about preventing US citizens from avoiding the tax by trading on non-US exchanges -- I guess this is what they were thinking of:

`(a) In General- In the case of any outbound securities transaction, the transferor shall deduct and withhold a tax equal to the tax imposed under section 4475 with respect to such transaction.

`(b) Outbound Securities Transaction- For purposes of this section, the term `outbound securities transaction' means any covered transaction to which section 4475(a) applies if--

`(1) such transaction does not occur on a trading facility located in the United States, and

`(2) the purchaser with respect to such transaction in not a United States person.'.
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Nope, this simply means US transaction taxes will apply to non-US citizens also if they trade US securities elsewhere.
 
Quote from listedguru:

Where are you guys hearing Geithner is for the tax? I thought it said no to the tax on Fox Business yesterday?

Please advise,

-Guru
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Guru...see my PM.

But, it was Larry Kudlow on the trader tax segment who said he heard Geitner now maybe in favor of the tax...it's more than hearsay, but nothing official. Articles yesterday evening hinted to Geitner maybe being for the tax.
 
Quote from listedguru:

Where are you guys hearing Geithner is for the tax? I thought it said no to the tax on Fox Business yesterday?

Please advise,

-Guru
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Pelosi said it. She's now the Treasury official spokeswoman.
 
Quote from Stok:

Guru...see my PM.

But, it was Larry Kudlow on the trader tax segment who said he heard Geitner now maybe in favor of the tax...it's more than hearsay, but nothing official. Articles yesterday evening hinted to Geitner maybe being for the tax.
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I wonder why he would say no to the tax during his interview on Fox Business last night? I think that Politico piece with the comments from Pelosi are incorrect. I think Pelosi is putting words in the Treasury Secretary's mouth...

http://www.politico.com/news/stories/1209/30200.html

"But after their phone conversation Wednesday, Pelosi told colleagues that the secretary indicated he was more open to some such fee than had been reported."

I think this 'fee' she's referring to is an insuranace type fee charged to the banks...Just my take.

-Guru
 
Quote from Xspurt:

How much tax wound be due R/T on one ES contract?
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0.02% - on nominal value of $55,000 per ES contract....$22 R/T. That would still kill a lot of liquidity!!!

Stock are even more f*cked at .25%!!

It's all INSANE!!
 
Quote from listedguru:

I wonder why he would say no to the tax during his interview on Fox Business last night? I think that Politico piece with the comments from Pelosi are incorrect. I think Pelosi is putting words in the Treasury Secretary's mouth...

http://www.politico.com/news/stories/1209/30200.html

"But after their phone conversation Wednesday, Pelosi told colleagues that the secretary indicated he was more open to some such fee than had been reported."

I think this 'fee' she's referring to is an insuranace type fee charged to the banks...Just my take.

-Guru
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................................................................................

Correct....She would not know the difference....

think this 'fee' she's referring to is an insuranace type fee charged to the banks...Just my take.



Look the Dems just want a "public score" to cement the populists vote....They do not care what it is.....as long as populists see in the media that THEY WON vs WS because of THEIR beloved DEM leadership.... ...that's all that's needed....
 
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