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

Quote from FightTheFuture:

http://www.nasdaq.com/aspx/stock-ma...should-consider-tax-on-high-frequency-trading




I don't think such a Rep from a state of devastation -Calif.- should be entitled to an opinion, let alone an opinion on something he knows nothing about.
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Thanks for the link. These idiots always think more taxation and more regulation is the answer to everything. Let's hope Mr. Sherman's comments fell on deaf ears. I haven't heard anything from the SEC regarding a FTT so thats good news. They seem to be thinking along the lines of circuit breakers, etc.

-Guru
 
Quote from listedguru:

Thanks for the link. These idiots always think more taxation and more regulation is the answer to everything. Let's hope Mr. Sherman's comments fell on deaf ears. I haven't heard anything from the SEC regarding a FTT so thats good news. They seem to be thinking along the lines of circuit breakers, etc.

-Guru
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Tax idiots are running beautiful California. Car registration fee went up. All kind of new fees for everything. They want a disposal fee for a computer monitor besides the higher sales tax. I've never "disposed" of any monitor - donate it to refurbish shops near the border that fix it seell it to Central America.
 
With the Greece crisis Europeans especially Germans are pushing the FTT really hard again.
http://www.reuters.com/article/idUSLDE64A0FB20100511
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"Today we'll probably just see a simple authorisation of credit again. That can't be it. If we want to protect the euro...then measures must be agreed that at least make speculative trading on markets harder or even impossible."

If the government did approve a bill to introduce a financial transaction tax, then it was "not ruled out" the SPD would back the European aid package, Oppermann said.
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And it's not only the leftist this time, but libertarian and conservative parties are showing their support as well. At EU and ECB meetings many leaders favored the FTT in search for a solution to save the the EU and their currency.
After all it's the speculators who caused the crisis and not the politicians. And now they gotta make em pay and show them who's boss.
At least in europe.
I think a FTT would be some kind of good if it only existed in europe. As to serve as a bad example.
 
Quote from muller:
I think a FTT would be some kind of good if it only existed in europe. As to serve as a bad example.
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not for me buddy!

the mind boggles at the thought of these European deficits being financed if any form of FTT on derivatives is imposed. Of course, they'll make an exception for trading in government bonds but then demonstrate their ignorance by taxing bond and STIR futures, the main hedging vehicles for bond dealers

Then the global debt binge and excess leverage in the system really will hit home hard.

:)
 
Quote from muller:

With the Greece crisis Europeans especially Germans are pushing the FTT really hard again.
http://www.reuters.com/article/idUSLDE64A0FB20100511
-------------
"Today we'll probably just see a simple authorisation of credit again. That can't be it. If we want to protect the euro...then measures must be agreed that at least make speculative trading on markets harder or even impossible."

If the government did approve a bill to introduce a financial transaction tax, then it was "not ruled out" the SPD would back the European aid package, Oppermann said.
-------------
And it's not only the leftist this time, but libertarian and conservative parties are showing their support as well. At EU and ECB meetings many leaders favored the FTT in search for a solution to save the the EU and their currency.
After all it's the speculators who caused the crisis and not the politicians. And now they gotta make em pay and show them who's boss.
At least in europe.
I think a FTT would be some kind of good if it only existed in europe. As to serve as a bad example.
More...

It already exists in the UK. It raises a pittance. why would u wish it on anybody. what would u wish for europeans to wish on you. perhaps a vat?
 
Quote from zdreg:

It already exists in the UK. It raises a pittance. why would u wish it on anybody. what would u wish for europeans to wish on you. perhaps a vat?
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I don't wish it on anybody. I'm just saying let everybody get what they deserve.
I didn't wish socialism on Venezuela. The people wanted it and voted for Chavez. Now let them live the glory and show to us how great they are doing.

Can you give me a link on the FTT in the UK? I checked the commission schedule at IB UK and it still looks fair. How's the tax implemented in the UK?
 
Quote from muller:

I don't wish it on anybody. I'm just saying let everybody get what they deserve.
I didn't wish socialism on Venezuela. The people wanted it and voted for Chavez. Now let them live the glory and show to us how great they are doing.

Can you give me a link on the FTT in the UK? I checked the commission schedule at IB UK and it still looks fair. How's the tax implemented in the UK?
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google stamp tax uk for complete info.
What about the US? Obama doesn't believe in free markets. why not a FTT since he believes that all your income belongs to the government?
 
The FTT would decimate the financial centers in New York and Obama's political center of gravity, Chicago. I don't see Obama suporting this in the near term. In the long run, anything can happen.


Quote from zdreg:

What about the US? Obama doesn't believe in free markets. why not a FTT since he believes that all your income belongs to the government?
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