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

http://m.spiegel.de/article.do?id=695638

http://m.spiegel.de/article.do?id=695679

Per my post last night, Germany has stepped out beyond EU consensus to vigorously combat financial irresponsibility and defend the Euro and EU financially. A FTT may be part of it. Der Spiegel English version has good articles on the subject. These links tonight give some good information in line with my post last night. I access the online link through Drudge mobile links. Financial Times too. Both are free.

A material FTT is a very bad idea and German banks will lose important business and fight it. A financial activity tax would not be as bad as a FTT - although I am against that too. Nice to see some German editorial writers talking about overspending governments owning up to their self-induced problems instead of scapegoating traders.
 
Merkel bank tax plan rebuffed at pre-G20 meet:

http://www.monstersandcritics.com/n...ank-tax-plan-rebuffed-at-pre-G20-meet-Roundup

Berlin - "German Chancellor Angela Merkel's call for a global tax on financial transactions was given a clear rebuff by officials from G20 nations Thursday during a financial market reform conference in Berlin."

"However lead nations of the G20, including Canada and South Korea, reacted frostily to Merkel's key proposal that banks and other financial institutions around the world should pay a levy on their transactions."

"The US was not significantly represented at the meeting, but the transaction tax proposal is currently being debated there."

"Merkel acknowledged that a rift had formed within the G20 on the transaction tax issue."

'There won't be agreement at the first dinner in Canada,' she said.

'This has been rather frustrating. We need to send a joint signal in moments of crisis,' Merkel said.

Let the games begin:)

-Guru
 
Quote from listedguru:

Merkel bank tax plan rebuffed at pre-G20 meet:

http://www.monstersandcritics.com/n...ank-tax-plan-rebuffed-at-pre-G20-meet-Roundup

Berlin - "German Chancellor Angela Merkel's call for a global tax on financial transactions was given a clear rebuff by officials from G20 nations Thursday during a financial market reform conference in Berlin."

"However lead nations of the G20, including Canada and South Korea, reacted frostily to Merkel's key proposal that banks and other financial institutions around the world should pay a levy on their transactions."

"The US was not significantly represented at the meeting, but the transaction tax proposal is currently being debated there."

"Merkel acknowledged that a rift had formed within the G20 on the transaction tax issue."

'There won't be agreement at the first dinner in Canada,' she said.

'This has been rather frustrating. We need to send a joint signal in moments of crisis,' Merkel said.

Let the games begin:)

-Guru
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the article does not address the issue of individuals paying a transaction tax. the banks will try to get off any taxes on themselves and will compromise by favoring a tax on retail traders.
 
Article regarding comments by German Finance Minister Wolfgang Schaeuble - Although the idea of a global financial transaction tax appears to have been dismissed by both the U.S. and the I.M.F., Mr. Schaeuble says the Group of 20 leading industrial and developing nations "will have another look at it in an unbiased way". He admits it is "very likely" that there would be "no agreement" at the G20 summit in Canada in June and "then the debate will take off again to see if it is possible to do it in Europe. If we get a Yes, that is good. If we get a No, then we will once again work intensively to see if we cannot have a transaction tax at a European level."


Translation - they know they'll get no cooperation whatsoever on a global transaction tax at the G20 summit, especially with the U.S., Canada, Sweden, Japan...just to name a few in opposition, so they'll end up trying to do one in Europe. For them to even enact a transaction tax at the European level is a longshot at best.




http://www.cnbc.com/id/37250960
 
Quote from rc8222:

Article regarding comments by German Finance Minister Wolfgang Schaeuble - Although the idea of a global financial transaction tax appears to have been dismissed by both the U.S. and the I.M.F., Mr. Schaeuble says the Group of 20 leading industrial and developing nations "will have another look at it in an unbiased way". He admits it is "very likely" that there would be "no agreement" at the G20 summit in Canada in June and "then the debate will take off again to see if it is possible to do it in Europe. If we get a Yes, that is good. If we get a No, then we will once again work intensively to see if we cannot have a transaction tax at a European level."


Translation - they know they'll get no cooperation whatsoever on a global transaction tax at the G20 summit, especially with the U.S., Canada, Sweden, Japan...just to name a few in opposition, so they'll end up trying to do one in Europe. For them to even enact a transaction tax at the European level is a longshot at best.

http://www.cnbc.com/id/37250960
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US in opposition? this is another example of wishful thinking that permeates this particular thread.
 
Quote from zdreg:

US in opposition? this is another example of wishful thinking that permeates this particular thread.
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A transaction tax will never make it through the US senate, even if the administration wanted one and after November the democrats will more than likely loose more senate seats so I do not see this happening in the US. Just my 2 cents
 
Quote from zdreg:

US in opposition? this is another example of wishful thinking that permeates this particular thread.
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Oh really????? All right know it all, show me any story that shows the U.S. supporting a global transaction tax?????
Everything I have seen or read has shown the U.S. in opposition to such a thing.
You know, in some respects I'd love for the U.S. to have a financial transaction tax, just to watch you come in here an implode . lol
Gee, if this is all such wishful thinking, you had better get a job, because you won't be able to trade for much longer as the transaction tax cometh!!!!!!!!!!!! lol :D :D :D
 
Quote from rc8222:

Oh really????? All right know it all, show me any story that shows the U.S. supporting a global transaction tax?????
Everything I have seen or read has shown the U.S. in opposition to such a thing.
You know, in some respects I'd love for the U.S. to have a financial transaction tax, just to watch you come in here an implode . lol
Gee, if this is all such wishful thinking, you had better get a job, because you won't be able to trade for much longer as the transaction tax cometh!!!!!!!!!!!! lol :D :D :D
More...

Didn't you know that support from a couple of left wing democrat douche bags = full support of the legislative and executive branches of our government.
 
Quote from endroute:

Didn't you know that support from a couple of left wing democrat douche bags = full support of the legislative and executive branches of our government.
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If that's the case, then why don't we have the tax? It's the liberal douche bag Democrats that have all the majorities in Congress, as well as the White House. So where's the tax?????? Where's that "full support" that your referring to?????? I can't stop laughing in responding to you. lol
 
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