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

EU urges G20 to explore global transaction tax:

http://www.reuters.com/article/idUSLDE65M0TL20100623

June 23 (Reuters) - The European Union formally requested in a letter on Wednesday that the world's largest economies explore the introduction of a global tax on financial transactions.

Writing to the G20 before a summit in Toronto on June 26-27, Herman Van Rompuy, the president of the EU Council which represents EU member states, said the world needed a level playing field on bank levies and transaction taxes.

"We consider that international work on levies and taxes on financial institutions should continue to maintain a worldwide level playing field," he said in the letter, written jointly with European Commission President Jose Manuel Barroso..

"Also the introduction of a global financial transaction tax should be explored and developed further in that context."

-Guru
 
Quote from listedguru: explored and developed further in that context."
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I notice it is not what they were supposed to say ("researched and developed")... now it has been tampered with it becomes "explored and developed further"... Further from what exactly? Isn't that the slippery slope spin again...?

I'd rather listen to the Lipskys and Semetas and Covacs of this world... Messrs. Barroso and Van Rompuy should spare their valuable media time (and that 15 min. will be gone sooner than they think) for calling for the stop to global arms race or other issues they can accually find the time to understand properly (I naively assume they try*). I mean really, will I live to hear Joseph Alois Ratzinger, His Holiness Benedict XVI calling for the bleeding transaction tax?;)

* or indeed bother with such things like 'understanding'... being popular is more important than being right... see the ET's "GMT" clock for instance... ;) [ http://www.timeanddate.com/library/abbreviations/timezones/eu/gmt.html ]
 
http://www.scoop.co.nz/stories/WO1006/S00466.htm

[...]
Strauss-Kahn also spoke of the global trade union movement’s support for a financial transactions tax (FTT). Noting that the IMF had expressed its preference for a different kind of financial activities tax based on profit and compensation, he agreed with the ITUC that a substantial contribution from the financial sector is justified to pay for the cost of the crisis and to dampen overly risky behaviour in the financial sector. He stated that the specific choice between the FTT and another type of tax is “a technical discussion” that needed to take place.
[...]
 
Now this is just plain funny....

http://www.gmanews.tv/story/194325/...used-to-fight-poverty-scarlett-johansson-says

Proposed bank taxes could be used to fight poverty, Scarlett Johansson says

06/24/2010 | 05:00 PM

Multi-awarded American actress Scarlett Johansson said she was open to the idea of a financial transaction tax, saying proceeds can be used to fund poor countries’ anti-poverty and climate change efforts.

Proposed by the International Monetary Fund late last year, the tax was initially intended to help countries recoup money used to bail out banks to weather the global crisis.

Johansson, a Golden Globe Awardee, said the tax could "raise hundreds of billions to help poor countries threatened by rising poverty and climate change."

Johansson, an Oxfam ambassador, made these remarks as leaders of the world’s eight richest nations — the United Kingdom, the United States, Japan, France, Germany, Italy, Canada, and Russia — hold a meeting in Canada this week.

These eight countries "must look beyond their own economic struggles and set out how they will fulfil the promises to poor countries made in 2005," she said in an open letter distributed by the Philippine office of Oxfam, a UK-based organization.
 
Quote from FightTheFuture:

I wish 0bama himself would just say "No" for the record and all.

The 10th paragraph mentions 0bama's silence on the trans tax and the article mentions that the US is opposed.

http://blogs.wsj.com/economics/2010/06/23/g-20-agenda-us-stimulus-vs-eu-austerity/
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I fully agree regarding Obama. Hopefully he will come out directly against the tax at the meetings this weekend. Or at least have Geithner speak out against it as well.

All of this hoopla should die down after the G20 flat out rejects the call for an FTT. It will be interesting to see if Germany (and or France) have the stones to go it alone at that point (LOL)...

-Guru
 
Quote from hardrightedge:


Multi-awarded American actress Scarlett Johansson said she was open to the idea of a financial transaction tax, saying proceeds can be used to fund poor countries’ anti-poverty and climate change efforts.
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How very fortunate for us that her opinion is irrelevant.

One cannot stop people making public fools of themselves, sadly.

Perhaps she ought to part with the vast majority of her net worth to fund poor countries before suggesting others do the same. Or would she rather others pay for the luxury of her pity, like all the other looters?

What qualifies her to have opinions on financial matters?


From the article:

The open letter was also endorsed other celebrity Oxfam ambassadors such as actors Gael Garcia Bernal, Rahul Bose, Colin Firth, Kristin Davis, and Bill Nighy, singer and songwriter and activist Annie Lennox, singer Miguel Bose, songwriter Jim Kerr, Emeritus Archbishop Desmond Tutu, Singer Martha Wainwright, and photographer and model Helena Christensen.

So, just to emphasise: the dirty looters here are charities agitating for more money to waste. Can we please have a repost of an updated blacklist if members are still keeping one up to date?

In the mean time, please remember to boycott all dirty looters.
 
<What qualifies her to have opinions on financial matters?>

She has perky nips. That qualifies her, as long as all her political statements are made live, with appropriate back-lighting.
 
Earth Times

'Berlin - Shortly before the G20 summit in Canada, Chancellor Angela Merkel admitted she had been unable to persuade the other leading economies to support a transaction tax worldwide.

"I don't think we will all come a single view," she said in Berlin before her departure. Merkel said there had been enough thought about the tax and the time had come for minds to be made up.

"I would prefer a clear response to no response at all," she said

EU countries are at odds with the US and many developing countries over a global bank tax to recover money from banks that took excessive risks during the 2008 financial crisis.

Merkel added that if resistance in the Group of 20 was too enduring, the European Union would act alone, saying she was glad the European has forged a common position favouring a banking levy as well as the global tax.'

--- Resistance has not only endured, but in some quarters it has strengthened. It's becoming as stale as the G-20 concept. The woman is making an idiot of herself.

For no other reason than to assist the ill-advised charities and rich movie people to achieve a gracious wind-down, it's overdue that S. Kahn helps Mrs Merkel achieve her exasperated desire for a "clear response".

I believe there's something in the UK charities act legally limiting political campaigns to a one year-time frame and certainly in the case where there's been no measurable outcome.

The tragic side of this has been an ill-advised politically contentious campaign targeting defensive foreign governments, proposing massive interference in global financial settings, while costing its member charities longer-term credibility and future donor generosity.
 
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