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

We also have Brown trying to look like a hero and saying he wants to broker a deal between the US and China, this clown needs glory. I doubt China or the US will bother letting him negotiate with the big boys.
 
Quote from rsikit:

We also have Brown trying to look like a hero and saying he wants to broker a deal between the US and China, this clown needs glory. I doubt China or the US will bother letting him negotiate with the big boys.
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Apparently he's got biro pen on his shirt with Plan B on it, but he's not saying what that is.

He's determined to get into the history books. Hope they treat him like the fool he is. He's just committed the UK to the biggest share of the climate bill in Europe while he's closing an RAF base because of a lack of funds.
 
Response received from my senator

Dear Mr. Hgocm:

Thank you for your recent letter regarding the Let Wall Street Pay for Wall Street’s Bailout Act of 2009 (H.R. 1068). I appreciate having the benefit of your comments on this important matter.

As you know, H.R. 1068 was introduced in the House of Representatives on February 13, 2009. This legislation would impose up to a 0.25 percent tax on financial transactions, including the sale and purchase of stocks, options and futures. While it is imperative that all parties associated with the current financial crisis are aggressively investigated and that any corporate executives found to be involved in criminal activities are swiftly prosecuted, H.R. 1068 would punish all investors with higher taxes. This is the wrong approach to stimulating our economy and would serve only to further impair our efforts to strengthen our capital market and create jobs here at home. H.R. 1068 was referred to the House Committee on Ways and Means for further consideration. Although no similar legislation has been introduced in the Senate, you may be certain that I will keep your views in mind should H.R. 1068 or other relevant legislation be considered by the full Senate during the 111th Congress.

I appreciate having the opportunity to represent the interests of Texans in the United States Senate. Thank you for taking the time to contact me.

Sincerely,

JOHN CORNYN
United States Senator
 
Swiss FinMin against Tobin, bonus taxes - press

http://www.reuters.com/article/idUSLDE5BH24W20091218?type=swissMktRpt

* Dismisses one-off tax of 50 pct on bankers' bonuses

ZURICH, Dec 18 (Reuters) - Switzerland's finance minister is against introducing a "Tobin" style tax on financial transactions of specific one-off taxes on bankers' bonuses, he was quoted on Friday as saying.

When asked by Swiss newspaper Finanz und Wirtschaft whether such taxes could be considered in Switzerland, Hans-Rudolf Merz said: "Absolutely not, as long as I am a member of the government, I guarantee you that."

The G20 group of leading countries asked the International Monetary Fund at a meeting in Scotland last month to come up with options by April for a possible transaction tax, "insurance" levy or resolution fund paid for by banks.

Merz -- who is also serving as Switzerland's president, a largely ceremonial role, until the end of the year, also dismissed the idea of a one-off levy of 50 percent on bankers' bonuses, as planned in Britain and France.

"I wonder about the French and British governments. They have not thought this through to the end," he was quoted as saying.

Switzerland's financial industry is dominated by its two largest banks, UBS -- which was hard hit by the financial crisis and had to accept government help -- and Credit Suisse. (Reporting by Sam Cage)
 
Quote from Explorer:

Swiss FinMin against Tobin, bonus taxes - press

http://www.reuters.com/article/idUSLDE5BH24W20091218?type=swissMktRpt

* Dismisses one-off tax of 50 pct on bankers' bonuses

ZURICH, Dec 18 (Reuters) - Switzerland's finance minister is against introducing a "Tobin" style tax on financial transactions of specific one-off taxes on bankers' bonuses, he was quoted on Friday as saying.

When asked by Swiss newspaper Finanz und Wirtschaft whether such taxes could be considered in Switzerland, Hans-Rudolf Merz said: "Absolutely not, as long as I am a member of the government, I guarantee you that."

The G20 group of leading countries asked the International Monetary Fund at a meeting in Scotland last month to come up with options by April for a possible transaction tax, "insurance" levy or resolution fund paid for by banks.

Merz -- who is also serving as Switzerland's president, a largely ceremonial role, until the end of the year, also dismissed the idea of a one-off levy of 50 percent on bankers' bonuses, as planned in Britain and France.

"I wonder about the French and British governments. They have not thought this through to the end," he was quoted as saying.

Switzerland's financial industry is dominated by its two largest banks, UBS -- which was hard hit by the financial crisis and had to accept government help -- and Credit Suisse. (Reporting by Sam Cage)
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Finally some good news, I guess they learned from there mistakes. It says that his time in office ends this year, anyone know what the new pres coming it says about this? Also obama to address press in 10
 
Quote from andy9775:

Finally some good news, I guess they learned from there mistakes. It says that his time in office ends this year, anyone know what the new pres coming it says about this? Also obama to address press in 10
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They were referring to the ceremonial role as president ends in a year , he is als in other aspects of the government, the finance minister
 
Quote from rsikit:

They were referring to the ceremonial role as president ends in a year , he is als in other aspects of the government, the finance minister
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I see so essentially the president has no direct say or effect and when they change presidents, the government will stay in place correct? Sorry no idea on how the Swiss system works.
 
Quote from andy9775:

I see so essentially the president has no direct say or effect and when they change presidents, the government will stay in place correct? Sorry no idea on how the Swiss system works.
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Iam not sure either, but it really makes no difference in Switzerland for our cause. They will pretty much always have a place where they wont tax there. So not worried about Switzerland wavering. The bad part is all the things we are doing to shut the Swiss down as a tax haven. So even this thing were to pass, and many seem to think people can trade in switzerland , I think that will be legislated against. I am more concerned with bigger financial hubs being against the tax, becuase for that reason of competitiveness the tax will not be done, but for countries like Switzerland to not be on board I dont think makes a difference to many who hold legislative powers. Becuase the Swiss already offer huge tax havens, so they are used to it and are not starting to crack down on it.
 
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