Let's hope their not going to talk about the FTT (highly unlikely) probably just a normal presidential meeting. It would be nice if the IMF would come out against the FTT before the scheduled April date.
-Guru
1/4% Tax on all stock trades pushed in NY Times today
- Thread starter seasideheights
- Start date
Let's hope their not going to talk about the FTT (highly unlikely) probably just a normal presidential meeting. It would be nice if the IMF would come out against the FTT before the scheduled April date.
-Guru
EU considers implementing transaction tax without the US..
http://www.europarl.europa.eu/news/...IPR69367-23-02-2010-2010-false/default_en.htm
http://www.europarl.europa.eu/news/...IPR69367-23-02-2010-2010-false/default_en.htm
From Dow Jones:
European Commission to back 'Tobin Tax' on financial transactions - DJ
DJ reports European Commission policymakers will endorse the idea of a "Tobin tax" on financial transactions to help European governments boost revenue, in a report due out next week. "New tax bases, e.g., financial transactions, should be explored, in a coordinated way, as potential socommission's "2020" outlook, to be released March 3. AFP was able urces of government revenues," says the to see a copy of the report. The idea of taxing the financial industry, in the wake of the economic crisis, still divide European Union leaders. Efforts to coordinate such a tax on a pan-European basis would face huge obstacles as taxation is a reserved power at the national level. The new European Commissioner for financial services, Michel Barnier, has endorsed the idea. Barnier said in a recent AFP interview that such contributions from banks, insurers and markets could be used to lessen the budgetary load on states weighed down with post-crisis deficits and debts. The taxes could also provide funding for challenges such as climate change or food security.
-Guru
European Commission to back 'Tobin Tax' on financial transactions - DJ
DJ reports European Commission policymakers will endorse the idea of a "Tobin tax" on financial transactions to help European governments boost revenue, in a report due out next week. "New tax bases, e.g., financial transactions, should be explored, in a coordinated way, as potential socommission's "2020" outlook, to be released March 3. AFP was able urces of government revenues," says the to see a copy of the report. The idea of taxing the financial industry, in the wake of the economic crisis, still divide European Union leaders. Efforts to coordinate such a tax on a pan-European basis would face huge obstacles as taxation is a reserved power at the national level. The new European Commissioner for financial services, Michel Barnier, has endorsed the idea. Barnier said in a recent AFP interview that such contributions from banks, insurers and markets could be used to lessen the budgetary load on states weighed down with post-crisis deficits and debts. The taxes could also provide funding for challenges such as climate change or food security.
-Guru
They may consider 'going it alone' but I highly doubt they would do it. I also highly doubt the Tobin Tax will ever come to fruition in the form of G20 concensus. I still say it ain't happening...
-Guru
Equity trading should not be taxed, but commodity trading should, specifically oil. Oil has far too many geo-political issues for it to be toyed with. We all know that the current price of oil is not based solely on demand, and demand is what should drive the price. The current price is twice what it should be. No intellectually honest person can debate that fact. Anyone not taking delivery of this commodity should pay a 50% tax per transaction, minimum.
My blog months ago and recent article in Active Trader magazine predicted the EU might try to co-op the FTT as a new EU federal tax - it's first. With PIIGS leading to Meltdown 2.0 on EU soil this time, and the Euro under it's first battle-test, the EU may become attracted to a FTT for their own crisis and budget needs - don't believe the part about global poverty etc. EU officials are attacking speculation and teeing this up. Their main goal is to stop hot money from exiting and shorting of PIIGS and arbitraging bailouts. The Der Spiegal top story on this a few days ago was very telling. EU initiatives take a long time and there will be fierce debate. Expect short sale limitations first. As I wrote, the US should not support EU wide and global tax initiatives. From iPhone.