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

Quote from Explorer:who, exactly, would "research" this tax. [Merkel]: "Of course the G-20, or the IMF, I don't know."
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And we can already guess their answer. It will read like this: "..an FTT does not appear well suited to the specific purposes set out in the mandate from G-20 leaders" I mean we've known it since mid-April... It has been properly leaked to the public domain courtesy of the BBC;) Perhaps Ms. Merkel would care to stop pretending this document from 16th April (http://www.elitetrader.com/vb/showthread.php?s=&postid=2811507&highlight=IMF#post2811507 ) does not exist...
 
I really wish Cameron would have stood up to Merkel and not agreed to the statement to research a FTT, etc - no matter how vague that statement was.

Also I read where Merkel (and Germany) have already calculated the $2B figure into their 2012 budget they say a FTT would bring them. So if they don't implement a FTT they need to find that funding elsewhere.

I'm sure the G20 and the US are going to come out against the FTT again at the summit. Someone just needs to kill this FTT tax talk once and for all. Can't these idiots see nobody wants this?

-Guru
 
Quote from listedguru:

I really wish Cameron would have stood up to Merkel and not agreed to the statement to research a FTT, etc - no matter how vague that statement was. ...............



-Guru
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Maybe the proponents' tactics are to keep requesting and pressuring for new studies until the data is filtered to only show 'potentially positive' data that a trans tax is feasible. Apparently all these different kinds of proposed taxes serve as a proxy for necessary reform.




also: India's STT will not be abolished now, thanks to Europe maybe.



http://www.bloombergutv.com/stock-m...ing-seven-day-rally-on-mixed-global-cues.html

As per the second draft of the direct tax code (DTC) released on Tuesday, the securities transaction tax (STT) will stay and rates will be calibrated. In its first draft DTC unveiled last year, the government had proposed to scrap the securities transaction tax.
 
Quote from Wayne Gibbous:


�They are talking about just going ahead with an E.U.-wide transactions tax,� Ms. Anderson said. �Then what would happen if we start to see them enjoy major benefits from this while the U.S. is out in the cold? I think it could become a real issue for U.S. economic competitiveness.�

http://dealbook.blogs.nytimes.com/2...ush-to-impose-a-transaction-tax/?ref=business
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Laughable. The Financial Services industry is a now a HUGE chunk of Western GDP, since it was astutely decided to export our manufacturing base to Asia. A ban in Germany and France would only channel huge volumes to London, Tokyo and New York. Their loss = our gain.
 
Quote from Explorer:

British Prime Minister David Cameron, who made his debut at a summit, blocked it together with his colleagues from the Czech Republic
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RSJ must be paying a lot of taxes...LOL
 
If Dow Jones Newswire report below quoting US treasury official's Friday update is correct, their position remains unchanged:-

http://english.capital.gr/news.asp?id=994483

You can count on angered resistance from G20 "small players" made aware of that demeaning, insulting remark by those two domineering "big players" (S & M) to the effect that smaller G20 officials' input is irrelevant.

Merkel, now on the record as totally unaware of the April IMF condemnation of what it is she promotes - very Pink Panther.
 
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