Agree, and I will only do what we all think I should do in this regard. It's our common interests at stake. We should not suggest a new segment, but if a segment is already scheduled and they are recruiting someone for our side, then I am ready to step up and play ball. It needs to be handled with care. Thanks for your nice comments!
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1/4% Tax on all stock trades pushed in NY Times today
- Thread starter seasideheights
- Start date
Agree, and I will only do what we all think I should do in this regard. It's our common interests at stake. We should not suggest a new segment, but if a segment is already scheduled and they are recruiting someone for our side, then I am ready to step up and play ball. It needs to be handled with care. Thanks for your nice comments!
Joe Teranova was talking about how Tim Geithner's job status next year was something to watch out for. This was not related to any discussion of the tax, but came up while talking about Bernanke's confirmation.Quote from jksn922:
Just watch, you'll probably have Defazio come out screaming for Geithner's resignation again because of his comments against the transaction tax to Bloomberg.
Quote from jj69:
Joe Teranova was talking about how Tim Geithner's job status next year was something to watch out for. This was not related to any discussion of the tax, but came up while talking about Bernanke's confirmation.
As long as the unemployment picture continues to improve, and the banks keep repaying the TARP funds back, which they are, then Geithner should be fine.
Geithner says, banks will likely repay $175 Billion of aid by the end of 2010. The amount is substantially more than we anticipated even a few months ago.
http://www.bloomberg.com/apps/news?pid=20601087&sid=akznYRJZPIxQ&pos=3
http://www.bloomberg.com/apps/news?pid=20601087&sid=akznYRJZPIxQ&pos=3
Quote from GreenTraderTax:
Agree, we want to dial down talk of this tax on TV and in the media, but unfortunately, all the economists, journalists and politicians are TV and media hounds and this fire is escalating, along with their growing popularity.
The government is getting ready to spend lots of money and they are hungry for tax increases, since they really can�t bust the budget further.
Stimulus and the jobs bills will be focused on business tax cuts, so how can they include a tax increase too? One way, is assessing a tax increase with populist anger support on Wall Street. They say Wall Street caused the crisis, is making a fortune in the clean up, and they should share the wealth with Main Street, who has not seen enough recovery benefits yet. This fight is not going away and it�s turning more dangerous in my view.
Two choices � we can sit back and hope the fire goes out on its own, or aggressively put out the fire before it spreads further. We need to fight fire where it comes up and that is on TV.
I want to go on TV and debunk the other sides� arguments. It's not a tiny tax that only hurts speculators that are useless anyway. It�s a 100 billion dollar plus tax in the words that come out from the other side of their mouths. By stifling speculators, they hurt the entire markets, which hurts Main Street because they are joined at the hip. Wall Street buys Main Street innovation and technology (my last post). Most speculators live on Main Street and pay taxes to Main Street communities. Funny CA politicians are attacking Wall Street and they don�t even realize that most speculator traders live and work in CA. The financial markets are where Main Street hedges their goods and services (think of the family farm).
If we allow government to stifle speculators - by putting them out of business with no ifs ands or buts with this tax - that will lead to poorly-priced markets. The public won't stand for government-influenced poorly-priced markets. Because, they will pay more for inefficient pricing and that will cost everyone much more than this harmful tax raises in revenues. No exemptions in the bill can prevent that, this poor pricing will effect retirement plans, mutual funds, small investors � simply everyone.
Of course, I will do much more work before I make my appearances to boil down our arguments and come out fighting!
Some trader assume that this won't be passed as it was not pass before. So they aren't bothered to write and call their congressperson or Senators.
Why does the morons keep introducing it, there is a chance it get attached to some other bill that the nation wants and get passed that way. Like it becomes part of the jobs creation bill.
If traders here do nothing, idiots can push it thru Congress.
Goldman and big banks will get their broker-dealer exemption from the tax. Goldman, etc own our politicians.
Do we have a petition?
Quote from leela:
Some trader assume that this won't be passed as it was not pass before. So they aren't bothered to write and call their congressperson or Senators.
Why does the morons keep introducing it, there is a chance it get attached to some other bill that the nation wants and get passed that way. Like it becomes part of the jobs creation bill.
If traders here do nothing, idiots can push it thru Congress.
Goldman and big banks will get their broker-dealer exemption from the tax. Goldman, etc own our politicians.
Do we have a petition?
http://www.rallycongress.com/greent...-jobs-do-not-enact-financial-transaction-tax/
Sign every petition you can find, such as the one noted above. Also, contact your congressional representatives and make your case. Be polite (if you act like a jerk you will be ignored), but let them know that this tax is unacceptable.
As I have been saying all along, Secretary Geithner is our man.
Geithner continues to be consistently against a transaction tax and thankfully, he clearly put out some fires questioning his posture before the weekend.
Per my post yesterday (and edited blog later tonight), I pointed out that Pelosi was scrambling and flip-flopping to threaten support for a transaction tax - with her hearsay hint of Geithnerâs support too - in order to horse trade this failing tax in exchange for earmarking TARP funds for a jobs bill (her real objective).
I said Geithner should squash Pelosiâs weak move by continuing to shut down TARP and continue to say no way to a financial transaction tax. Geithner did both today. He clearly said he was against a financial-transaction tax and he used the best language of us all, âItâs unlikely thatâs going to be possible,â Geithner said today. âEven then thereâs a real risk that retail investors whoâve got fewer choices, they end up bearing the cost of the tax.â
As pointed out on my post earlier on Elite, âThe public won't stand for government-influenced poorly-priced markets (after putting speculator market maker traders out of business). Because, they will pay more for inefficient pricing and that will cost everyone much more than this harmful tax raises in revenues. No exemptions in the bill can prevent that, this poor pricing will affect retirement plans, mutual funds, and investors â simply everyone (and that is Geithnerâs retail investor).
Secretary Geithner will help extricate the remaining banks from TARP soon or at least demonstrate that itâs very likely to happen soon. Next, he will work on lowering populist anger towards Wall Street by helping to enable more loans and benefits to Main Street. Our excellent Secretary of Treasury will pull the rug out from under the populist anger camp and get us back on a healthy footing between Wall Street and Main Street. Only then will true recovery take off. CEOs will see clear sailing again and they will start hiring.
By the way, Molly my editor (same one from Active Trader) is catching up with my posts on the blog. Her edited versions are better so take a look at http://www.greencompany.com/blog/index.php
Hopefully, we can have a little peace and quiet this weekend without the other side throwing bombs in the media left-and-right (okay I mean left-and-left).
And yes, agree with the prior post, please keep signing our Petition and add your great Comments. Make them personal, that works best.
Like any wild fire, this one needs to be put out over and over and over again.
Geithner continues to be consistently against a transaction tax and thankfully, he clearly put out some fires questioning his posture before the weekend.
Per my post yesterday (and edited blog later tonight), I pointed out that Pelosi was scrambling and flip-flopping to threaten support for a transaction tax - with her hearsay hint of Geithnerâs support too - in order to horse trade this failing tax in exchange for earmarking TARP funds for a jobs bill (her real objective).
I said Geithner should squash Pelosiâs weak move by continuing to shut down TARP and continue to say no way to a financial transaction tax. Geithner did both today. He clearly said he was against a financial-transaction tax and he used the best language of us all, âItâs unlikely thatâs going to be possible,â Geithner said today. âEven then thereâs a real risk that retail investors whoâve got fewer choices, they end up bearing the cost of the tax.â
As pointed out on my post earlier on Elite, âThe public won't stand for government-influenced poorly-priced markets (after putting speculator market maker traders out of business). Because, they will pay more for inefficient pricing and that will cost everyone much more than this harmful tax raises in revenues. No exemptions in the bill can prevent that, this poor pricing will affect retirement plans, mutual funds, and investors â simply everyone (and that is Geithnerâs retail investor).
Secretary Geithner will help extricate the remaining banks from TARP soon or at least demonstrate that itâs very likely to happen soon. Next, he will work on lowering populist anger towards Wall Street by helping to enable more loans and benefits to Main Street. Our excellent Secretary of Treasury will pull the rug out from under the populist anger camp and get us back on a healthy footing between Wall Street and Main Street. Only then will true recovery take off. CEOs will see clear sailing again and they will start hiring.
By the way, Molly my editor (same one from Active Trader) is catching up with my posts on the blog. Her edited versions are better so take a look at http://www.greencompany.com/blog/index.php
Hopefully, we can have a little peace and quiet this weekend without the other side throwing bombs in the media left-and-right (okay I mean left-and-left).
And yes, agree with the prior post, please keep signing our Petition and add your great Comments. Make them personal, that works best.
Like any wild fire, this one needs to be put out over and over and over again.
Quote from GreenTraderTax:
As I have been saying all along, Secretary Geithner is our man.
Geithner continues to be consistently against a transaction tax and thankfully, he clearly put out some fires questioning his posture before the weekend.
Per my post yesterday (and edited blog later tonight), I pointed out that Pelosi was scrambling and flip-flopping to threaten support for a transaction tax - with her hearsay hint of Geithnerâs support too - in order to horse trade this failing tax in exchange for earmarking TARP funds for a jobs bill (her real objective).
I said Geithner should squash Pelosiâs weak move by continuing to shut down TARP and continue to say no way to a financial transaction tax. Geithner did both today. He clearly said he was against a financial-transaction tax and he used the best language of us all, âItâs unlikely thatâs going to be possible,â Geithner said today. âEven then thereâs a real risk that retail investors whoâve got fewer choices, they end up bearing the cost of the tax.â
As pointed out on my post earlier on Elite, âThe public won't stand for government-influenced poorly-priced markets (after putting speculator market maker traders out of business). Because, they will pay more for inefficient pricing and that will cost everyone much more than this harmful tax raises in revenues. No exemptions in the bill can prevent that, this poor pricing will affect retirement plans, mutual funds, and investors â simply everyone (and that is Geithnerâs retail investor).
Secretary Geithner will help extricate the remaining banks from TARP soon or at least demonstrate that itâs very likely to happen soon. Next, he will work on lowering populist anger towards Wall Street by helping to enable more loans and benefits to Main Street. Our excellent Secretary of Treasury will pull the rug out from under the populist anger camp and get us back on a healthy footing between Wall Street and Main Street. Only then will true recovery take off. CEOs will see clear sailing again and they will start hiring.
By the way, Molly my editor (same one from Active Trader) is catching up with my posts on the blog. Her edited versions are better so take a look at http://www.greencompany.com/blog/index.php
Hopefully, we can have a little peace and quiet this weekend without the other side throwing bombs in the media left-and-right (okay I mean left-and-left).
And yes, agree with the prior post, please keep signing our Petition and add your great Comments. Make them personal, that works best.
Like any wild fire, this one needs to be put out over and over and over again.
Great post. Keeping up the fight.