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

The earlier Bloomberg article (http://www.bloomberg.com/news/2010-...action-tax-proposal-takes-shape-ftd-says.html) states:

"Finance Minister Wolfgang Schaeuble aims to introduce a German model for such a tax, even though he failed to reach a consensus on such a package among Group of 20 and European Union leaders this year. "

However looking at the FT Deutschland article that Bloomberg refers to (http://www.ftd.de/finanzen/maerkte/...t-schaeubles-0-01-prozentsteuer/50205915.html), as far as I can see it does not make an explicit statement that Germany will go ahead on it's own.

It does say (using Google Translate):

"Schäuble, had instructed its experts to develop a concept for a financial transaction tax. The federal government had neither the G20 summit of major industrialized and emerging countries in Seoul still managed at EU level to get a majority for the tax. But there are certainly assist countries by Germany. In France and the EU Commission is also working on a plan for the tax. Schäuble wants to be able to present a German model, when the chance comes to policy enforcement."

Could this just mean that Germany is going to present their model to other EU countries in the hope that they'll agree (no chance) ?
 
Quote from Explorer:

http://www.monstersandcritics.com/n...t-tax-could-produce-20-billion-euros-in-funds

The above article contradicts the earlier one by saying that Germany won't go it alone:

"However, the introduction of the tax remains open with Berlin not planning to go it alone on launching the new charge on financial market transactions. Instead, it wants to see the plan launched on a European Union-wide basis. "

Let's hope this article is correct.
More...

Yes hopefully that article is correct in that Germany will not go it alone. We already know an EU wide consensus it not in the cards. Let's just hope this is saber rattling and dies another death (again). How many lives does this heinous tax have anyway?

-Guru
 
IMO this is just political theater on Germany's part.... at least I hope that's what it is.

Even if Germany commits financial suicide and goes it alone - some d*ckhead economist will write a glowing report even if it is an abject failure. Then other govs will use the "d*ckhead report" to justify implementing it in their country.

Won't this thing just frickin' die already? sheesh
 
Quote from BA_Trader:

IMO this is just political theater on Germany's part.... at least I hope that's what it is.

Even if Germany commits financial suicide and goes it alone - some d*ckhead economist will write a glowing report even if it is an abject failure. Then other govs will use the "d*ckhead report" to justify implementing it in their country.

Won't this thing just frickin' die already? sheesh
More...

why should it die? the uk has one. they would love to sucker everyone else to have it in order to level the playing field. it is most appealing. it seems to hit fat cats. it seems to raise revenue,/ it gives government more power. all lefties hate free markets. most right wingers are clueless. it is a politician's wet dream.

the answer to your question is that it will never die.
 
Quote from zdreg:

why should it die? the uk has one.
More...

70% of trades in the UK are excluded (market makers and dealers exempt), basically thats why UK stock day traders often trade US stocks instead.

It's just muppets like GBrown and other lefty nut job economists that would like this.
 
You must log in or register to reply here.
Back
Top