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

Quote from andy9775:

I've been listening to the conference, there have been no apparent talks of funding and no real progress that has been agreed to, just issues with kyoto. They're taking an hour then coming back, final deal to be drafted within that time.
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I'm thinking that they are trying to get a deal worked out on the big sticking points like greenhouse gas levels, china, etc and will then worry about how to finance this crap. They probably don't even know how they'll finance it.

-Guru
 
Quote from rsikit:

I think Japan used to have one. China I doubt but still not a hub becuase there is no transparency for anything there. So I wouldnt care what China says, but only Japan.
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what about the Honk Kong market?
 
White House Announces 'Meaningful' Climate Deal

"Developed and developing countries have now agreed to listing their national actions and commitments, a finance mechanism, to set a mitigation target of two degrees celsius, and to provide information on the implementation of their actions through national communications, with provisions for international consultations and analysis under clearly defined guidelines,” the official said."

http://www.nytimes.com/2009/12/19/science/earth/19climate.html?_r=1&hp

So this makes it sound like each nation has to come up with their own finance mechanism?

-Guru
 
Quote from listedguru:

White House Announces 'Meaningful' Climate Deal

"Developed and developing countries have now agreed to listing their national actions and commitments, a finance mechanism, to set a mitigation target of two degrees celsius, and to provide information on the implementation of their actions through national communications, with provisions for international consultations and analysis under clearly defined guidelines,” the official said."

http://www.nytimes.com/2009/12/19/science/earth/19climate.html?_r=1&hp

So this makes it sound like each nation has to come up with their own finance mechanism?

-Guru
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ft.com had this to say about the agreement:

"They will continue their work next year in the hope of having a legally binding document that can be signed by the end of 2010 and then ratified by national parliaments before the end of 2012. That is the expiry date of the main provisions of the Kyoto protocol, the world’s only existing accord that binds countries to cut emissions, but which only applies to the rich world."

Let me guess - they will start taxing immediately so they can pay for this later after it goes into effect?

-Guru
 
I just read a copy of the draft and it really doesn't say much about the financing stuff other than what was reported earlier. I guess no mention of a transaction tax is good.

I guess the goal is to turn this 'accord' into a legally binding treaty in the future. From what I read previouly the US Senate has to ratifiy any treaty with a 2/3 majority vote. That means it would take 67 Senators to vote for this (if I understand correctly).

-Guru
 
Quote from listedguru:

I just read a copy of the draft and it really doesn't say much about the financing stuff other than what was reported earlier. I guess no mention of a transaction tax is good.

I guess the goal is to turn this 'accord' into a legally binding treaty in the future. From what I read previouly the US Senate has to ratifiy any treaty with a 2/3 majority vote. That means it would take 67 Senators to vote for this (if I understand correctly).

-Guru
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he just said that they will not be legally bound by today. Also read an article that addressed that question and no under a climate bill of sorts the president can enter into a legally binding agreement in order to protect the stratosphere.

http://www.tnr.com/blog/the-vine/does-obama-need-67-votes-climate-treaty-not-necessarily
 
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