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

[listedguru]

And Geithner wrote an opinion article published Wednesday in the Asian version of The Wall Street Journal that also hinted at consideration of the financial transaction tax.

"We need to strike a balance on the pattern of growth across countries," he wrote. "Balance matters not for its own sake, but because it is critical to strong and sustained growth globally and to future financial stability. Ultimately, we are trying to lift global growth, not just shift it -- so as to deliver strong, sustainable and balanced growth."

This above quote from Geithner doesn't sound like an endorsement of the FTT to me or am I missing something here. We all know Geithner is opposed to the tax (at least I hope he still is).

-Guru

 

[listedguru]

Read Dean Baker's response to the deficit committee report out today:

http://www.politico.com/arena/perm/Dean_Baker_961FA9F5-D84B-46B3-B316-B552BE860377.html

He says a financial speculation tax would easily raise over 1.5 trillion over the next decade (LOL). What planet is this guy living on? He also says the even the IMF has come out in favor of increased taxation on the financial sector (funny he doesn't mention they are in favor of an FTT). We all know they are in favor of a FAT tax.

-Guru

 

[rc8222]

Quote from listedguru:

And Geithner wrote an opinion article published Wednesday in the Asian version of The Wall Street Journal that also hinted at consideration of the financial transaction tax.

"We need to strike a balance on the pattern of growth across countries," he wrote. "Balance matters not for its own sake, but because it is critical to strong and sustained growth globally and to future financial stability. Ultimately, we are trying to lift global growth, not just shift it -- so as to deliver strong, sustainable and balanced growth."

This above quote from Geithner doesn't sound like an endorsement of the FTT to me or am I missing something here. We all know Geithner is opposed to the tax (at least I hope he still is).

-Guru

Exactly. The hint is where?????? LOL!!!!!! Some idiot liberals just making things up as they go along, knowing that a FTT will never occur. Obama knows that the GOP just won the election in the House. Even if he agreed with other nations to enact a global FTT, it won't happen, as it needs approval from both houses of Congress. Even with Democrat super majorities in Congress, they couldn't pass a FTT, or even support one globally.

 

[Midas]

Landslide victory in the House of Representatives, and no mention of the transaction tax by the debt committee apointed by Obama...... We are in the clear for a while.

 

[tomdavis]

We're in the clear... For a while...

Is there anything we can do over the next two years to strengthen our position?

Quote from Midas:

Landslide victory in the House of Representatives, and no mention of the transaction tax by the debt committee apointed by Obama...... We are in the clear for a while.

 

[seasideheights]

http://spectator.org/archives/2010/11/12/global-warming-global-taxes

 

[FightTheFuture]

There's some US, post-election FTT activity yesterday and today including the above from seasideheights and:


"...tap into the vastly under-taxed wealth trapped in the financial sector by recommending innovations such as a financial transaction tax that alone would raise $1.5 trillion over ten years."

http://thehill.com/blogs/congress-blog/economy-a-budget/128955-we-need-a-fix-the-economy-commission

--------------------------------
Wealth Tax. Savings Tax. The wealth is trapped and can't get out. We have to tax it and help it get out. Please help remove my investments and savings. Where are the anti-emetics.

TheHill did not want to print my comment on a previous FTT article a month or so ago, also on a Saturday. Let's see what happens this time.
------------------------------------------

NY Times commentors asking about FTT:

h*ttp://freakonomics.blogs.nytimes.com/2010/11/12/your-tax-questions-asked-and-answered-by-a-u-s-treasury-official/

 

[listedguru]

Quote from seasideheights:

http://spectator.org/archives/2010/11/12/global-warming-global-taxes

I still find it very interesting that Larry Summers supposedly put his stamp of approval on a FTT (albeit one on currency trading). I really wonder if that's actually the case or if he said no but was simply outvoted by others on this 'panel?' We all know that he was against a FTT here pretty recently (after being pro FTT) early in his career.

-Guru

 

[zdreg]

Quote from Midas:

Landslide victory in the House of Representatives, and no mention of the transaction tax by the debt committee apointed by Obama...... We are in the clear for a while.

the FTT proposal will never die because it is simple and politically appealing. the fact that it is simple and dead wrong in its ability to raise huge sums of money will not ever detract from its attractiveness to governments short of funds.

the key may be to be forever vigilant. it may not help if the masses are disgusted/disappointed with Wall Street.

 

[TraDaToR]

Not directly related but I am pissed at this:http://g20.torontomobilize.org/node/173

1 B$, 20 politicians talking "principles", never actually deciding anything, some journalists, some security, some ski-doo rental( iqaluit )= 1B$;

Perhaps, I don't know, finding new way of financing is not always the way to go...F U politicians.