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

Quote from Robert A. Green:

http://m.spiegel.de/article.do?id=699672

article on friction between German and French presidents over euro fiscal plans.

They are each trying to bend eachother and I suspect Germany has the upper-hand.

http://m.spiegel.de/article.do?id=699615

france joins German attack on speculators

http://m.theglobeandmail.com/news/w...-says-french-foreign-minister/article1598557/

link for kouchner FTT promotion mentioned above.
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From the globe and mail piece above:

French foreign minister wants to bypass the G20 and run a FTT through the UN...


During his speech, he said he hoped that “we can run this through the general assembly," suggesting that if he gets his way he will bypass the G20 and go through the United Nations. Challenged by skeptical reporters, he insisted the time has come for a tax on financial transactions even though the concept has been around for three decades and gone nowhere. “C’est rien [It is nothing]," Mr. Kouchner said of the miniscule tariff he is proposing, digging into his pocket and pulling out a coin for effect -- and for the two television cameras in the room. He would prefer people think of his proposal as a “contribution," rather than a tax. Mr. Kouchner sought to separate his idea from the debate over raising money to pay for future bank bailouts. There is no connection. He wants to raise money to pay for development and to fight pollution.

-Guru
 
Imagine a world with a fifty cent spread or more on CL. :eek:

The problem is that some countries can afford to tax exchange traded derivatives, because they don't have any essential products on exchanges anyway.

In the meantime, they will rely on countries like the US who give essential price discovery and liquidity for the products they need.

All the while appealing to the common people who think markets are useless and traders make big money no matter what, and should be taxed heavily.

I hope a euro country tries this and I hope it destroys their markets. Everybody should see what a ridiculous idea this is in reality, and move on.
 
http://thehill.com/business-a-lobby...ght-for-transaction-tax-but-face-tough-battle

my comment. It's time to reform unions, first focusing on run-away government jobs, higher-than-private compensation and benefits. Banks have already been reformed with Fin Reg and the Presidents 90 billion bank fee proposal.

U.S. unions are trying to deflect rightfull-attention to reforming their own house too. In Europe, governments are reining in union overeach with austerity programs. It's time to address union reform in the U.S.

Union calls for a FTT make no sense. It will fall on normal investors, farmers and manufacturers hedging their products. We all need to help in the recovery. What are unions doing besides holding their hands out for more money?

Sent from my iPhone
 
Quote from Robert A. Green:

http://thehill.com/business-a-lobby...ght-for-transaction-tax-but-face-tough-battle

my comment. It's time to reform unions, first focusing on run-away government jobs, higher-than-private compensation and benefits. Banks have already been reformed with Fin Reg and the Presidents 90 billion bank fee proposal.

U.S. unions are trying to deflect rightfull-attention to reforming their own house too. In Europe, governments are reining in union overeach with austerity programs. It's time to address union reform in the U.S.

Union calls for a FTT make no sense. It will fall on normal investors, farmers and manufacturers hedging their products. We all need to help in the recovery. What are unions doing besides holding their hands out for more money?

Sent from my iPhone
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I added my comments. The hill is widely read in DC. Please comment folks.
 
Quote from Midas:

I added my comments. The hill is widely read in DC. Please comment folks.
More...

What America NEEDS is for all unions to be treated as did Reagan in the PATCO strike.

Unions are nothing more than legalized extortion.
 
The unions are pushing like hell for a FTT right now because they know that after November 2nd, their chances of getting one are "ZILCH"!!!!!!!!!
Why haven't those FTT bills in the House & Senate gone anywhere? They don't have the support. Never have, never will. Even key Democrats don't support it. And after the huge Republican gains made on Nov. 2nd, these union turds won't have any ground to stand on whatsoever. :D
 
The UNION people should return to the ASSEMBLY LINES and stop helping the federal government confiscate the hard-earned capital of private enterprise.

These fools don't understand how economics work or the deleterious effects of less liquidity in our capital markets.

People who assemble widgets or drive buses shouldn't have a say in who gets taxed, and by how much.

Unfortunately, neither should Democrats.
 
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