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

[listedguru]

Quote from jj69:

CNBC's John Harwood(Wash correspondent) on "value added tax on wall st."(something Erin Burnett reminds him of making traders nervous) - LIKELY to happen in the long run in this country but mybe not for another year or two. Is this same as transaction tax?
http://www.cnbc.com/id/15840232?video=1547220751&play=1

They were referring to a VAT tax and basically saying that Wall St is worried about a VAT coming reality (a VAT would be bad for the overall economy).

It sounds like Barney Frank wants congress to pursue the $90B bank tax thats been talked about but Geither says the admin plans a major push for a broader tax (ie VAT Tax)...

Here's the scoop from Bloomberg:

http://www.bloomberg.com/news/2010-...0-billion-bank-tax-to-recoup-bailout-aid.html

"Frank said Treasury Secretary Timothy F. Geithner had urged him not to look for bank fees, which Frank had sought to help pay for the legislation, because the administration plans a major push for a broader tax."

-Guru

 

[jj69]

Quote from listedguru:

They were referring to a VAT tax and basically saying that Wall St is worried about a VAT coming reality (a VAT would be bad for the overall economy).

It sounds like Barney Frank wants congress to pursue the $90B bank tax thats been talked about but Geither says the admin plans a major push for a broader tax (ie VAT Tax)...

Here's the scoop from Bloomberg:

http://www.bloomberg.com/news/2010-...0-billion-bank-tax-to-recoup-bailout-aid.html

"Frank said Treasury Secretary Timothy F. Geithner had urged him not to look for bank fees, which Frank had sought to help pay for the legislation, because the administration plans a major push for a broader tax."

-Guru

Thanks Guru. Just paranoid whenever there's any mention of tax on wall st.

 

[Arnie]

http://thehill.com/blogs/congress-b...y-tax-a-way-to-invest-in-our-future-rep-stark

 

[rc8222]

Quote from Arnie:

http://thehill.com/blogs/congress-b...y-tax-a-way-to-invest-in-our-future-rep-stark

LOL. Another bill from the Stark/Defazio school of stupidity!!! I'm no longer keeping track as to how many times these clowns try to introduce a FTT, Currency, or simple wipe you ass while trading tax. Don't worry Democrats, it will all be over soon. "NOV 2ND" is coming!!! I've been following the polling on Rasmussen, and it's looking greater and greater for the GOP each day among Senate and House races. I doubt we'll take the Senate, but I'm thinking we'll get at least 6-7 seats. As for the House, I really believe the Republicans will take it. The White House even acknowledged the strong possibility of this last week. Pelosi is even getting nervous, while a few months ago, she laughed at the prospect of a GOP takeover of the House. Well, the old decrepit bitch isn't laughing now.

 

[andy9775]

Quote from rc8222:

LOL. Another bill from the Stark/Defazio school of stupidity!!! I'm no longer keeping track as to how many times these clowns try to introduce a FTT, Currency, or simple wipe you ass while trading tax. Don't worry Democrats, it will all be over soon. "NOV 2ND" is coming!!! I've been following the polling on Rasmussen, and it's looking greater and greater for the GOP each day among Senate and House races. I doubt we'll take the Senate, but I'm thinking we'll get at least 6-7 seats. As for the House, I really believe the Republicans will take it. The White House even acknowledged the strong possibility of this last week. Pelosi is even getting nervous, while a few months ago, she laughed at the prospect of a GOP takeover of the House. Well, the old decrepit bitch isn't laughing now.

john boehner wants to take her place and he vowed to make bills available to read prior to voting like Obama was supposed to do. Amongst other things.

 

[Bob111]

don't know, if this article been discussed here already,but i was sitting in the office another day and pick up forbes magazine. opened up and here we go again-

http://www.forbes.com/forbes/2010/0315/opinions-trading-tax-financial-transactions-on-my-mind.html


it's is truly sad to see, how retarded this guy logic is. no wonder us is in a deep shit.. if this dickhead is

Dean Baker is codirector of the Center for Economic Policy Research. His most recent book is False Profits: Recovering from the Bubble Economy.

whet else we can expect from us policy makers? they probably even more retarded..
look at the guy's first sentence-

The reckless behavior of a severely bloated financial sector has given us the worst downturn in 70 years. Let's do something about it. Let's put a tax on hyperactive traders.

the fucking retard is contradicting to himself in very first sentience,failing to acknowledge the real cause of the "crisis"
i did not expect to see this kind of level of retardation from forbes..shit....i wouln't publish this nonsense..at least not in this form..what traders have to do with crisis?
UK and others examples are just fucking pathetic....
looks like idiot have no idea,how the markets are operate and differences political and economical between US and europe..

 

[Midas]

More on Obama's fiscal commission:

""But because of the pressure from both sides, Simpson and Erskine Bowles, the commission’s Democratic co-chairman, have warned that the chances of succeeding are small.


Washington interests “either pass or kill a bill with a deft blend of emotion, fear, guilt or racism,” Simpson says at each fiscal commission meeting.


“Anybody who thinks we have a big chance to get this done is crazy,” Bowles said last week.""

http://thehill.com/homenews/adminis...e-left-and-right-line-up-against-fiscal-panel

 

[zdreg]

Quote from Bob111:

don't know, if this article been discussed here already,but i was sitting in the office another day and pick up forbes magazine. opened up and here we go again-

http://www.forbes.com/forbes/2010/0315/opinions-trading-tax-financial-transactions-on-my-mind.html


it's is truly sad to see, how retarded this guy logic is. no wonder us is in a deep shit.. if this dickhead is

whet else we can expect from us policy makers? they probably even more retarded..
look at the guy's first sentence-


the fucking retard is contradicting to himself in very first sentience,failing to acknowledge the real cause of the "crisis"
i did not expect to see this kind of level of retardation from forbes..shit....i wouln't publish this nonsense..at least not in this form..what traders have to do with crisis?
UK and others examples are just fucking pathetic....
looks like idiot have no idea,how the markets are operate and differences political and economical between US and europe..

he may look like an idiot in your eyes but not in the eyes of the US congress.
what political and economical between US and europe are u talking about. they are both sinking ships without radical change.

 

[Bob111]

i'm talking about that uk and europe stock trading is dead...the volume..the number of stocks to trade..he bring's them as an argument, example. it's just plain stupid

 

[seasideheights]

AFL-CIO president Richard Trumka took aim at the current (and past) administration and Wall Street with what he calls a "two-fer" solution to increasing job opportunities and punishing the financial industry for the current economic climate.

"We figured out a way to bail out the banks who created this problem. We figured out a way to pay for wars. We figured out a way to do everything you decided to do, we can figure out a way to pay for these jobs as well and I think that Wall Street really should start paying for their fair share of what they've done." Trumka specifically calls for a financial transaction tax that he says will put $150-$300 million into the federal treasury that can be used for job creation.


Read more: http://liveshots.blogs.foxnews.com/2010/07/26/dem-base-not-optimistic-on-economy/#ixzz0uqz8fqrU