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

Frank wants Wall St. to pay for housing relief - The Hill's On The Money

http://thehill.com/blogs/on-the-mon...wants-wall-street-to-pay-for-housing-programs

No mention of FTT. Sounds selective and assessed on balance sheet size - an FBT. Similar to Obama's budget proposal for a TARP bank levy - financial responsibility fee.

Targeted to the big financial institutions, rather than shotgun FTT on Main Street investors.

Is Frank trying to intimidate Republicans into not ending the housing bailout programs?
 
ECB's Trichet testimony to European parliament:

ON FINANCIAL TRANSACTION TAX

"I'm happy to say again our position is it would be a good idea, were it to be introduced, that it is global.

"Otherwise there would be a difference between the way transactions are carried out between Europe and the rest of the world.

"We are calling for a level playing field as far as rules are concerned and this is the place where you would like to see a level playing field."

http://www.iii.co.uk/news/?type=reutersnews&articleid=TRE72K3MO&feed=Bus&action=article
 
The Archbishop of Canterbury has repeated calls for a "Robin Hood" tax to be imposed on financial transactions as he spoke of the "acute" dangers of "paralysing" the voluntary sector through heavy public spending cuts.

Dr Rowan Williams said a tax of 0.05% on transactions in currency, stocks and derivatives between major financial institutions - and not High Street banks - could generate £20 billion a year for the UK.

http://www.google.com/hostednews/uk..._YSzify5GAhsOWapA?docId=N0135721300727781439A

Read it all
 
The eurozone now very likely to impose a financial transactions tax:

A unilateral financial transactions tax by the eurozone is becoming increasingly likely, according to Financial Times Deutschland, after Jean-Claude Juncker, who had previous been sceptical, is now fully in favour. Under discussion is a transactions tax of 0.1% to 0.5% of turnover. The pressure on this issue comes from the European Council. The European Commission has been sceptical, and pressure is now growing on Algirdas Semeta, the tax commission to develop a proposal. Juncker said he had preferred to levy such a tax at G20 level, but since this is not possible, the eurozone, should press ahead. The problem with any such proposal is to prevent transaction being routed into offshore financial centres, such as Singapore or Shanghai. And since any proposal on tax requires unanimity, it is very likely that those in favour of the tax would have to invoke the enhanced cooperation procedures under the Lisbon Treaty. But that would be a lengthy process, and unlikely to get the tax ready for 2012.


http://www.eurointelligence.com/index.php?id=581&type=98&tx_ttnews[tt_news]=3071

-Guru
 
There 's also the FORMER president of Chile, Mrs Bachelet, who wants a Transaction Tax. Important people are joining the cause ...Wow.

( But not laughing at all at Juncker's position ...)
 
Quote from listedguru:

EU Seeks Vast New Power, Direct Taxes:

http://www.thenewamerican.com/index...35/6760-eu-seeks-vast-new-powers-direct-taxes

This is a very good read about the big power grab the EU is trying to execute over Europe. Lot's of talk about the FTT in the piece.

-Guru
More...

Gawd...Europe is just gonna kill themselves. It's too late over the pond, just now all this gets me back to worrying about this crap spreading here. The marxist/socialist/progressive movement is the biggest threat to the world...not terrorism.
 
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