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1/4% Tax on all stock trades pushed in NY Times today
- Thread starter seasideheights
- Start date
http://www.pbs.org/nbr/site/onair/transcripts/financial_transaction_tax_100713/
From Nightly Business Report (PBS) July 13, 2010
From Nightly Business Report (PBS) July 13, 2010
Quote from TTrader77:
http://www.pbs.org/nbr/site/onair/transcripts/financial_transaction_tax_100713/
From Nightly Business Report (PBS) July 13, 2010
"A Transaction Tax is something you will be hearing much more about in coming months". Gee, really?????? Where has this brainstorm Maya Macguineas been????? We've been hearing about a FTT for the longest time now, as the idiots that advocate for it will not go away. Wow, thanks for the heads up Macguineas. I sure didn't see it. :eek:
Bill including trans tax introduced May 2010
Another dumb idea. Had not heard of this bill until today. How many more are there?
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http://michiganmessenger.com/39778/conyers-proposes-deficit-neutral-jobs-bill
OpenCongress has an article about a bill submitted by Rep. John Conyers (D-Detroit) â HR 5204, aka the 21st Century Full Employment and Training Act â that would establish a public works program....
.....the bill calls for a new financial transactions tax to be levied on companies that engage in high-risk trades. Stock trades, futures contracts and credit default swaps would all be included. More exotic transactions ...
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http://thomas.loc.gov/cgi-bin/bssQu...21ST+CENTURY+FULL+EMPLOYMENT+AND+TRAINING+ACT
Another dumb idea. Had not heard of this bill until today. How many more are there?
-------------------------
http://michiganmessenger.com/39778/conyers-proposes-deficit-neutral-jobs-bill
OpenCongress has an article about a bill submitted by Rep. John Conyers (D-Detroit) â HR 5204, aka the 21st Century Full Employment and Training Act â that would establish a public works program....
.....the bill calls for a new financial transactions tax to be levied on companies that engage in high-risk trades. Stock trades, futures contracts and credit default swaps would all be included. More exotic transactions ...
---------------------
http://thomas.loc.gov/cgi-bin/bssQu...21ST+CENTURY+FULL+EMPLOYMENT+AND+TRAINING+ACT
Quote from FightTheFuture:
Bill including trans tax introduced May 2010
Another dumb idea. Had not heard of this bill until today. How many more are there?
-------------------------
http://michiganmessenger.com/39778/conyers-proposes-deficit-neutral-jobs-bill
OpenCongress has an article about a bill submitted by Rep. John Conyers (D-Detroit) â HR 5204, aka the 21st Century Full Employment and Training Act â that would establish a public works program....
.....the bill calls for a new financial transactions tax to be levied on companies that engage in high-risk trades. Stock trades, futures contracts and credit default swaps would all be included. More exotic transactions ...
---------------------
http://thomas.loc.gov/cgi-bin/bssQu...21ST+CENTURY+FULL+EMPLOYMENT+AND+TRAINING+ACT
You think he'd be spending all his time trying to get Obama to pardon his wife, who was sentenced to federal prison for taking bribes while serving on the Detroit City Council.
http://www.google.com/url?sa=t&sour...bjMNk4Fftgt-vRfqA&sig2=QKjsyL27DEv7LxnsZEk0Qw
Quote from zdreg:
the drumbeat for a FTT will grow only louder as the government becomes more desperate for revenue. if europe should pass a FTT it will give cover to obama and congress to pass one in the US.
It won't pass in the U.S. because it would take Republican support. The Republican Party has stated they are dead set against this tax, or any tax increases for that matter. In addition, there are many Congressional Democrats that have gone on record as being opposed to this tax. And with the Nov. 2nd elections coming, the Republicans will be picking up numerous seats in Congress, which means a FTT is that much more unlikely. If Europe passes a FTT, where do you think a great many of their investors will flock to? One place will be the U.S., where they won't have a FTT. All of this makes it unlikely that Europe would adopt one.
Quote from FightTheFuture:
Bill including trans tax introduced May 2010
Another dumb idea. Had not heard of this bill until today. How many more are there?
-------------------------
http://michiganmessenger.com/39778/conyers-proposes-deficit-neutral-jobs-bill
OpenCongress has an article about a bill submitted by Rep. John Conyers (D-Detroit) â HR 5204, aka the 21st Century Full Employment and Training Act â that would establish a public works program....
.....the bill calls for a new financial transactions tax to be levied on companies that engage in high-risk trades. Stock trades, futures contracts and credit default swaps would all be included. More exotic transactions ...
---------------------
http://thomas.loc.gov/cgi-bin/bssQu...21ST+CENTURY+FULL+EMPLOYMENT+AND+TRAINING+ACT
"As OpenCongress notes, this bill was actually submitted in May and no action has been taken on it â and none is expected. But if the unemployment rate continues to remain intractably high, that dynamic could change and the bill could spark some interest."
The good news is this bill will never make it anywhere. But I too wonder how many different times (and bills) their going to try and punch through this FTT. Give it a rest already. I also suspect that a FTT is going to fizzle out in Europe and won't happen in either Germany or France...
-Guru
Financial Transaction Tax Might Fix Host of Ills: Ralph Nader:
http://www.bloomberg.com/news/2010-...x-host-of-ills-commentary-by-ralph-nader.html
"A bill to impose such a tax, introduced by Democrat Representatives Peter DeFazio and Peter Welch, is going nowhere. Apart from sporadic mentions at various Congressional hearings on the financial meltdown, this levy, with antecedents back to Abraham Lincoln and the Civil War, is a taboo subject."
"There is also the serious matter of equity. When people, who pay 6 percent to 8 percent in sales taxes on necessities every day, learn that there is zero sales tax on daily purchases of billions of shares, bonds and derivatives, they understandably get upset. It doesnât matter whether they are conservatives or liberals, or whether it is during normal years on Wall Street or the recent massive collapse and bailout."
These idiots just don't get it do they?
-Guru
http://www.bloomberg.com/news/2010-...x-host-of-ills-commentary-by-ralph-nader.html
"A bill to impose such a tax, introduced by Democrat Representatives Peter DeFazio and Peter Welch, is going nowhere. Apart from sporadic mentions at various Congressional hearings on the financial meltdown, this levy, with antecedents back to Abraham Lincoln and the Civil War, is a taboo subject."
"There is also the serious matter of equity. When people, who pay 6 percent to 8 percent in sales taxes on necessities every day, learn that there is zero sales tax on daily purchases of billions of shares, bonds and derivatives, they understandably get upset. It doesnât matter whether they are conservatives or liberals, or whether it is during normal years on Wall Street or the recent massive collapse and bailout."
These idiots just don't get it do they?
-Guru
Quote from rc8222:
It won't pass in the U.S. because it would take Republican support. The Republican Party has stated they are dead set against this tax, or any tax increases for that matter. In addition, there are many Congressional Democrats that have gone on record as being opposed to this tax. And with the Nov. 2nd elections coming, the Republicans will be picking up numerous seats in Congress, which means a FTT is that much more unlikely. If Europe passes a FTT, where do you think a great many of their investors will flock to? One place will be the U.S., where they won't have a FTT. All of this makes it unlikely that Europe would adopt one.
You're probably right, but the Republican's have been "dead set against" the health care reform bill, financial overhaul, etc., and they still passed. All it takes is a little tweaking, and as we've seen, enough Republicans can be swayed to "change their minds". They can throw something into the 2300+ pages at the last minute to get their votes.
Hopefully you're right about the election, and it seems they will pick up at least some seats, but I won't be comfortable until they do.