Sorry, that letter noted a c.c. to Japanese Finance Minister. Letter signed on behalf of APEC sub-branch.
(APEC:- influential S.E. Asia economic community outfit).
(APEC:- influential S.E. Asia economic community outfit).
1/4% Tax on all stock trades pushed in NY Times today
- Thread starter seasideheights
- Start date
Sorry if I am repeating info, but I haven't kept up, and I don't have time to pick up where I left off.
I read today that the AFl-CIO is pushing the transaction tax also. they are planning on sponsoring demonstrations at banking and financial conferences, as well as lobbying Congress. If you know anyone who is a Union member or in leadership, lay into them. Let them know you intend to buy everything you can at non Union shops, and from overseas as long as they want to take away your livelyhood.
Those POS are a big part of the reason the auto industry is a pile of crap now and actually has been for a long time, and now they want more of our money to make their memebers more reliant on the government instead of having actual jobs.
Wouldn't surprise me if they have been pressing buttons to make the Toyota mess a bigger deal and screw with them more.
I'd like to see Union management and overpaid failing CEo's tossed on their asses and have us start over.
I read today that the AFl-CIO is pushing the transaction tax also. they are planning on sponsoring demonstrations at banking and financial conferences, as well as lobbying Congress. If you know anyone who is a Union member or in leadership, lay into them. Let them know you intend to buy everything you can at non Union shops, and from overseas as long as they want to take away your livelyhood.
Those POS are a big part of the reason the auto industry is a pile of crap now and actually has been for a long time, and now they want more of our money to make their memebers more reliant on the government instead of having actual jobs.
Wouldn't surprise me if they have been pressing buttons to make the Toyota mess a bigger deal and screw with them more.
I'd like to see Union management and overpaid failing CEo's tossed on their asses and have us start over.
Some discussion of the EU support for a Tobin tax:-
http://blogs.telegraph.co.uk/news/d...meps-vote-overwhelmingly-for-an-eu-tobin-tax/
http://blogs.telegraph.co.uk/news/d...meps-vote-overwhelmingly-for-an-eu-tobin-tax/
France repeats call for financial transaction tax
http://www.iii.co.uk/news/?type=afxnews&articleid=7787285&action=article
PARIS, March 11 (Reuters) - French President Nicolas Sarkozy repeated his support for a tax on financial transactions to support sustainable development, saying on Thursday he would push for the idea to be adopted by the Group of 20 countries.
Speaking at a conference on forestry in Paris, he said that new sources of funding would be needed for the $100 billion committed at the Copenhagen climate conference.
"Only innovative financing will allow us to meet this challenge," he said in a speech. "I will take, with others, initiatives at the G20 to ensure a tax on financial transactions is rapidly adopted."
More than 100 nations have endorsed a Copenhagen Accord, the main outcome of the December summit, which seeks to limit global warming to below 2 degrees Celsius (3.6 F) and foresees almost $30 billion in aid for developing nations from 2010-12, rising to $100 billion a year from 2020.
France will chair the G20 in 2011.
http://www.iii.co.uk/news/?type=afxnews&articleid=7787285&action=article
PARIS, March 11 (Reuters) - French President Nicolas Sarkozy repeated his support for a tax on financial transactions to support sustainable development, saying on Thursday he would push for the idea to be adopted by the Group of 20 countries.
Speaking at a conference on forestry in Paris, he said that new sources of funding would be needed for the $100 billion committed at the Copenhagen climate conference.
"Only innovative financing will allow us to meet this challenge," he said in a speech. "I will take, with others, initiatives at the G20 to ensure a tax on financial transactions is rapidly adopted."
More than 100 nations have endorsed a Copenhagen Accord, the main outcome of the December summit, which seeks to limit global warming to below 2 degrees Celsius (3.6 F) and foresees almost $30 billion in aid for developing nations from 2010-12, rising to $100 billion a year from 2020.
France will chair the G20 in 2011.
I think a lot of this Tobin talk will die down once the IMF report comes out not in favor of it in April. At that point I would expect France and Germany to quiet down their Tobin Tax talk. I really can't see the entire EU adopting a Tobin Tax. At least Brown the Clown sounds as though he's finally caving
-Guru
DeFazzio is on Bloomberg now. Maybe someone should investigate all the trips to exotic places.
http://www.legistorm.com/trip/list/.../id/200/core_person_id_page/51348/page/1.html
http://www.legistorm.com/trip/list/.../id/200/core_person_id_page/51348/page/1.html
What did Defazio have to say? Did he push the FTT?
-Guru
From Briefing-
The Tax With Nine Lives Appears Dead-- Traders Magazine
The proposed 0.25 percent securities transaction tax (STT) is dead in Congress--at least for now. But opponents warn that the idea could be resurrected and dropped into almost any bill, as the U.S. government seeks new sources to close record deficits. Still, others believe that the tax just won't happen this year. That's good news for prop traders and high-frequency traders, whose profit margins are razor thin to begin with. The tax, many fear, would push them out of the market and lessen liquidity for all investors. Next year, however, is another story and the idea to tax trades could gain traction. But for now, it's a back-burner issue, sources say. "The 0.25 percent is not going to happen," said Paul Zubulake, a securities industry analyst with Aite Group. "That would have had a devastating effect on in the industry. But a smaller STT could still happen." Zubulake said the government's need for more revenues could lead to new forms of taxing Wall Street. Rep. Peter DeFazio, D-Ore., drafted the STT bill, HR 4191. It would assess a 0.25 percent tax on financial transactions. Money generated by the tax would pay down the debt and create public sector jobs. The STT would be imposed on "stocks, futures, swaps, credit default swaps and options," according to the bill.
The Tax With Nine Lives Appears Dead-- Traders Magazine
The proposed 0.25 percent securities transaction tax (STT) is dead in Congress--at least for now. But opponents warn that the idea could be resurrected and dropped into almost any bill, as the U.S. government seeks new sources to close record deficits. Still, others believe that the tax just won't happen this year. That's good news for prop traders and high-frequency traders, whose profit margins are razor thin to begin with. The tax, many fear, would push them out of the market and lessen liquidity for all investors. Next year, however, is another story and the idea to tax trades could gain traction. But for now, it's a back-burner issue, sources say. "The 0.25 percent is not going to happen," said Paul Zubulake, a securities industry analyst with Aite Group. "That would have had a devastating effect on in the industry. But a smaller STT could still happen." Zubulake said the government's need for more revenues could lead to new forms of taxing Wall Street. Rep. Peter DeFazio, D-Ore., drafted the STT bill, HR 4191. It would assess a 0.25 percent tax on financial transactions. Money generated by the tax would pay down the debt and create public sector jobs. The STT would be imposed on "stocks, futures, swaps, credit default swaps and options," according to the bill.