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

[benwm]

Quote from MrPowerBallad:

For me, this tax will most likely fall off my radar once its number one cheerleader is voted out of office on May 6. If he's not voted out, then the next key date will be the Nov elections when the GOP should pick up more seats. I don't put much weight in the IMF report, since we see "important" reports and commissions on a variety of issues come and go without any action or resolution.

some talk of Brown calling an early election this weekend, menaing an election in four weeks time before the scheduled UK budget. Journalists were told to hold off going anywhere this weekend, which some read as meaning some announcement due..

makes political sense for him since they delay the bad news associated with the budget, Brown could boot out his Chancellor Darling in a post election cabinet reshuffle (something he tried to do before and divisions between Brown and Darling over the type of budget they should announce), plus the polls have narrowed recently, one recent poll suggesting the Conservative opposition have only a 5 point lead over Labour.

Personally I think they'll lose the debate and Conservatives will win the election but many pundits suggesting there may be a hung parliament (no clear majority for any party). Some Labour supporters still think Brown could cling on as PM in a hung parliament
:eek:

 

[listedguru]

Obama has appointed (4) members to the bipartisan deficit commission he established last week per Politico:

MORE COMMISSION MEMBERS: President Obama has appointed four members to the bipartisan deficit commission he established last week, an administration official said. The appointees are: Andy Stern, the president of SEIU; David Cote, the Honeywell International CEO; former Federal Reserve Vice Chairman Alice Rivlin; and Ann Fudge, a former Young & Rubicam Brands CEO. -- Carol E. Lee (9:42 a.m.)

I'm sure they are going to push the FTT on the dems side (esp with Andy Stern of the SEIU). The good news is Congress doesn't have to vote on any suggestions the commission recommends. Just an FYI...

-Guru

 

[wheatridge]

I didn't report back because I think he leans against it, (he previously managed money). Although it was hard to tell, politicians being what they are. Also, if the polls are right, he's a goner in November. I do appreciate the info.

 

[TraDaToR]

Lipsky on reconstructing the world economy

http://www.imf.org/external/np/speeches/2010/022510.htm

Just to understand the big picture.

 

[listedguru]

Does anyone else think Rangel's trouble's could be bad for us? I mean Pete Stark is next in line to chair the House Ways and Means Committee but he might not get the job (if Rangel is forced out). But if Stark did get the job you know he would be pushing for a FTT. This Sept piece from Politico mentions other candidates as some fear Stark is too liberal:

http://www.politico.com/news/stories/0909/26783.html

Also news out today that Obama has appointed Andy Stern (head of the SEIU) to his deficit commission. You know these Union heads are gaga over a FTT so I'm sure it will be brought up for discussion in the commission. The good thing is that Congress can't be forced to vote on any recommendations that the deficit commisson brings forth (and most likely won't).

These are just two developments that we should keep an eye on. I still think the FTT isn't going to happen but it's prudent that we stay ahead of the curve.

-Guru

 

[andohmeeta]

February 25, 2010:
The IMF thanks all NGOs, academia, think tanks, private sector, governments and individuals who have provided written comments during the Financial Sector Taxation (FST) on-line consultation period. The on-line process has officially ended at the beginning of February. We will post the comments in the upcoming days.

http://www.imf.org/external/np/exr/consult/2009/index.htm

 

[Samurai_jack]

Interesting read...

http://www.guardian.co.uk/business/2010/feb/25/obama-bank-reform-failure

 

[Explorer]

If the populist fuelled Robin Hood Tax initiative ever stood a chance of influencing government tax policies throughout the world (which looked a tall order from the start) it could only ever do so if it were to "go viral" - that is by receiving such overwhelming public support that governments would be forced to acknowledge it.

This hasn't been the case at all so far. After two and a half weeks its facebook membership increase is slowing down having reached a mere 125,000, and its youtube viewer numbers are drying up markedly too - youtube provides a nice little chart (under Statistics and Data) showing a clearly diminishing level of interest.

That the campaign appears to be flagging so early is good news, but perhaps it never posed much of a threat in the first place.

 

[snowbren]

We already pay enough taxes. I hope that this proposed Trader Tax never comes about!

 

[MrPowerBallad]

Quote from benwm:

Personally I think they'll lose the debate and Conservatives will win the election but many pundits suggesting there may be a hung parliament (no clear majority for any party). Some Labour supporters still think Brown could cling on as PM in a hung parliament
:eek:

Some reports out today suggesting that Brown is gaining strongly in polls and might pull it off. Any thoughts?

http://www.cityam.com/news-and-analysis/blow-tory-party-poll-lead-crumbles

The Conservative lead over Labour has narrowed to just two points, a YouGov poll for the Sunday Times found yesterday.

David Cameron’s Tory party is now on 37 per cent, according to YouGov, with Labour on 25 per cent and the Lib Dems on 17 per cent.

If repeated at a national level, that would give Labour 317 seats – just nine short of an overall majority – with the Tories holding 263 seats.

Such a result would likely give Brown the authority to form a government and stay on as Prime Minister.