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

Semeta Favours EU Financial Activities Tax:

http://www.tax-news.com/news/Semeta_Favours_EU_Financial_Activities_Tax____47239.html


"European Tax Commissioner Algirdas Semeta has said that an EU-level financial activities tax (FAT) is a "promising option" in terms of revenue generation and ensuring that the financial sector is taxed "fairly."

"In advocating the FAT, Semeta once again appeared to reject proposals for a financial transactions tax (FTT), arguing that electronic transactions are difficult to tax and that banking operations subject to the FAT would find it harder to relocate. The liklihood of the tax burden falling on consumers would be much less under the FAT, he argued."

-Guru
 
UK Chancellor Sets Out Bank Policy:

http://www.tax-news.com/news/UK_Chancellor_Sets_Out_Bank_Policy____47241.html

"Summoned to the despatch box on January 11 to make a statement in answer to an urgent question tabled by shadow chancellor Alan Johnson, George Osborne told MPs that the government was "in discussions with the banks to see if we can reach a new settlement" with regard to regulation, taxation and the thorny issue of bankers' bonuses."

"Third, we have introduced a permanent levy on the banks – in the face of opposition from the previous Government. This new banking tax started coming into effect last week, and once fully operational will raise GBP2.5bn each and every year – GBP8.8bn over this Parliament. And we are looking at the IMF’s proposed Financial Activities Tax, and we will work with international partners to secure agreement."

-Guru
 
Quote from seasideheights:

John Harwood CNBC Political Reporter just said expect Financial Transaction Tax in current Tax Overhaul talks in Washington DC.
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I'm sure it's going to be talked about.. But there is no way this will get through Congress. But again the Lib's will keep bringing this up.

-Guru
 
Quote from listedguru:

I'm sure it's going to be talked about.. But there is no way this will get through Congress. But again the Lib's will keep bringing this up.

-Guru
More...

As suggested, it could be a bargaining tool to get the lower corporate tax rate across all industries. Lower corporate tax rates for a "small" financial transaction tax.
 
Quote from seasideheights:

John Harwood CNBC Political Reporter just said expect Financial Transaction Tax in current Tax Overhaul talks in Washington DC.
More...



Of course a FTT will be brought up in any tax code overhaul discussion. The Republican House will never agree to any sort of proposal that would implement a FTT. This will just be political posturing by the Democrats, as they have really pissed off their liberal base by voting for an extension of the Bush tax cuts/estate tax. 2012 is not that far off, so the libertard Democrats will be suggesting their usual radical tax proposals as another election cycle looms.
 
Quote from seasideheights:

http://www.cnbc.com/id/15840232/?video=1743425672&play=1
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LOL!!!!!! That political reporter is basically offering his opinion about having a FTT brought up as an added revenue source. Absolutely nothing has been reported about this whatsoever, but in typical fashion, the libertard political reporters at CNBC find a way to throw it in. CNBC is the only media outlet in America that continuously promotes the FTT is any way they can. Absolutely laughable! :p
 
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