And an excellent comment, too.
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1/4% Tax on all stock trades pushed in NY Times today
- Thread starter seasideheights
- Start date
And an excellent comment, too.
Quote from cstfx:
Thanx. I am just getting so tired of this jackass.
I think that once we find out who his opponent is, we should contribute to the Republican challenger and try to get this dolt removed from office.
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What should really be under consideration is personal liability against legislators that introduce legislation that have negative affects on US business.... for which they know nothing about.
When one checks the biographies of many of these individuals , there is no record of them having experience in depth of any kind about the field for which they wish to make impositions....thus it is of no consequence as to why politics and the economic well being of the US is constantly disfunctional....
When examinig the wiki fact based bios of many of these leftist proponents.....none of them have any experience whatsoever in the field regarding their populist impositions....
Furthermore the US Govt. has to downsize dramatically in order to be commensurate with the economy....
There has been no legislation regarding the much needed downsizing....
This must happen in order for US prices to be more competitive with that of BRIC....
This goes in particular for ie Brown in the UK, Fazio, and especially Harkin.
By the way , was it not Harkin who pushed corn based fuels in the recent past....
And how did that turn out.....?
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And in addition with regards to tabloid media writers that are motivated to sell media.....one should immediately check their wiki bios in order to determine if they actually have the required backgrounds which would allow them to make meaningful viewpoints before the public.....Media people have one interest ...attract eyes and ears....and it does not matter how....they are all about the selling of advertisements....and having public interest of some kind.....some of their styles is to simply attract the numbers....ie Krugman.....this guy is a nutcase which is all about nothing more than selling media.....day to day....
Quote from libertad:
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What should really be under consideration is personal liability against legislators that introduce legislation that have negative affects on US business.... for which they know nothing about.
Taxing after-tax money that didn't make any profits ( new money ) yet must be unconstitutional. Only new money should be allowed being taxed not old money all over again.
Quote from gkishot:
Taxing after-tax money that didn't make any profits ( new money ) yet must be unconstitutional. Only new money should be taxed not old money all over again.
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In the right direction....
Again....just check their WIKI facts.....ie their bios....
They have no experience in securities of any kind....nada....
But yet want to make legal impositions versus the industry....
This is like asking someone to build your new house which has never built one before.....and the one that has never built one....saying that they know how and will do it for you....
This is exactly the problem...exactly....Non qualified people giving instructions....
This is a BIG BIG problem regarding US politics.....
Quote from libertad:
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In the right direction....
Again....just check their WIKI facts.....ie their bios....
They have no experience in securities of any kind....nada....
But yet want to make legal impositions versus the industry....
This is like asking someone to build your new house which has never built one before.....and the one that has never built one....saying that they know how and will do it for you....
This is exactly the problem...exactly....Non qualified people giving instructions....
This is a BIG BIG problem regarding US politics.....
I don't think there is any effective way to safeguard against a harmful legislation unless it's proscribed by the constitution.
Quote from Stok:
Bernanke is the mastermind behind TARP. He was the one that proposed it and obama signed off on it as a Senator...yes, you are correct...and goes to my point...Bernanke understood the difference from now and the 20's...he told Bush to enact it. Now the liberal monsters grabbed the flag and ran with it b/c they had 2. You have to understand this....we (aka...Bush and obama) bailed them out to avoid the next Depression....and TARP will prolly make $80B when it is all said and done.
But, talk about a travesty.....obama poured $50B into GM....that is what should be talked about!!!! For a piece of shit car company...but he got those votes from the unions, so he bailed them out....OH...GUESS WHAT...the surge in Afagn will cost $30B....2/3 less than the GM bailout....We will never get out $$ back on Shitty motor's.....I despise that company..GM WILL NEVER EVER BE ABLE TO PAY BACK $50 BILLION EVER!! Go look at their income statement and balance sheet! Why do u think obama has fired 2 CEO's now???
Go buy a Ford Taurus SHO...they didn't take any bailout $$, b/c management and unions agreed a long time ago. Ford is the Co. to look up 2. Obama broke all law's with Chrysler......told the bond holders that the LAW doesn't matter.
Time for another RBV.
I have to disagree. TARP has NOT been a success. The only reason the banks are paying it back is because the Fed bought a great deal of the banks' junk assets at nearly full price and the stock market bubble has given them cash. Also, those same banks are raising rates on all of the outstanding debt that they can (CCs, mortgage resets, etc). Also, they are not lending. The fact that the banks are not lending despite all of the welfare is a huge issue that is stymying small business job creation.
And another important point is why are so many banks still failing and needing FDIC bailouts? This is because the TARP was misallocated to favor big banks, who used a great deal of it for bonuses, while smaller banks did not receive much, if any, TARP. Therefore, smaller banks are still failing. I believe the FDIC deficit will soon be well over the $80B you are bragging about.
There is a good chance the banks will need another round of TARP welfare within the next year or so if the stock market or commercial real estate bubbles burst.
Currency Transaction Tax
A tax on the global financial sector can finance development. When the time comes, a collective decision will have to be made. Letâs be clear about this, we are not proposing a Tobin tax, whose primary objective was to regulate an excessively erratic currency market. No, the aim is to finance development without disrupting financial transactions.
A levy of 5 euro-cents on â¬1,000 would be painless, but not without consequences for the developing world: since even such an insignificant tax could yield as much as â¬35 billion!
This money has to help satisfy primary needs: water, food security, education and health. This is what is urgent when a billion people have no access to drinking water, a billion people are starving, when poverty prevents children from going to school and fulfilling their potential and a million people die every year from malaria... These funds could also help finance adaptation to climate change and access to energy.
Finally, the revenue could correct the disruption resulting from the autumn 2008 financial crisis by preventing national budgets being exposed to banking system risks.
http://www.diplomatie.gouv.fr/en/fr...de-in-the-monde-newspaper-02.12.09_13434.html
(This is the earlier mentioned Le Monde article in translation)
A tax on the global financial sector can finance development. When the time comes, a collective decision will have to be made. Letâs be clear about this, we are not proposing a Tobin tax, whose primary objective was to regulate an excessively erratic currency market. No, the aim is to finance development without disrupting financial transactions.
A levy of 5 euro-cents on â¬1,000 would be painless, but not without consequences for the developing world: since even such an insignificant tax could yield as much as â¬35 billion!
This money has to help satisfy primary needs: water, food security, education and health. This is what is urgent when a billion people have no access to drinking water, a billion people are starving, when poverty prevents children from going to school and fulfilling their potential and a million people die every year from malaria... These funds could also help finance adaptation to climate change and access to energy.
Finally, the revenue could correct the disruption resulting from the autumn 2008 financial crisis by preventing national budgets being exposed to banking system risks.
http://www.diplomatie.gouv.fr/en/fr...de-in-the-monde-newspaper-02.12.09_13434.html
(This is the earlier mentioned Le Monde article in translation)
Harkin favors taxing stock transactions
http://www.thehawkeye.com/story/harkin-jobs-120509
Harkin said a bill already has been introduced in the House by Rep. Bruce Braley, D-1st District, and Rep. Peter DeFazio, an Oregon Democrat.
"Until 1966, the United States taxed all stock transactions and transfers," Harkin said during a conference call with reporters on Friday. "Indeed, Congress doubled the transaction tax rate during the Great Depression in order to finance economic recovery initiatives."
http://www.thehawkeye.com/story/harkin-jobs-120509
Harkin said a bill already has been introduced in the House by Rep. Bruce Braley, D-1st District, and Rep. Peter DeFazio, an Oregon Democrat.
"Until 1966, the United States taxed all stock transactions and transfers," Harkin said during a conference call with reporters on Friday. "Indeed, Congress doubled the transaction tax rate during the Great Depression in order to finance economic recovery initiatives."