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

"But de facto, but are loaded mainly in the UK, Germany and France, where the financial centers are located. "

"This is a somewhat distorted view. It does not matter where is traded, but he who acts. We want to divide the income of the financial transaction tax under the tax office so the agent. How exactly this should happen, is not yet decided."

This is pretty bad. Now they really want to kill European finance.Start studying relocation everybody.

There is something I still don't get. Are they planning to create a tax in 2014 or start collecting the tax before for 2014 budget?
 
Quote from TraDaToR:

"But de facto, but are loaded mainly in the UK, Germany and France, where the financial centers are located. "

"This is a somewhat distorted view. It does not matter where is traded, but he who acts. We want to divide the income of the financial transaction tax under the tax office so the agent. How exactly this should happen, is not yet decided."

This is pretty bad. Now they really want to kill European finance.Start studying relocation everybody.

There is something I still don't get. Are they planning to create a tax in 2014 or start collecting the tax before for 2014 budget?
More...

Here's a few more quotes from the Semeta interview:

How much you want to take? It is nearly 30 billion euros, the speech?

This is a conservative estimate. If we include currencies, it will probably be more than 50 billion euros a year - but since there are legal concerns. The moment in which we introduce a tax on financial transactions on a global level, of course, everything looks different. Then we can also raise the tax rates.


So it all depends on the design. How will that look?

Well, for one, we will initially limit the tax strictly on financial institutions to make them not too complicated. Then we work with extremely low tax rates. . .



So they want to tax EU financial transactions at a real low rate and then get the rest of the G20 onboard so they can jack up those low rates. Didn't Italy just chicken out on going it along with a ftt? Also Germany and Poland recently said no to an EU only ftt as well as the UK and Sweden.

Why can't the EC comprehend that an EU only ftt is a pipedream and isn't going to happen? Much less a global ftt.

-Guru
 
"Nurses Call for Wall Street Tax vs. Cuts to Medicare, Medicaid & Social Security."

NNU members issued the call ahead of a debate being held Friday in Washington between supporters and opponents of a financial transaction tax (FFT) similar to those employed in more than 15 countries, including Great Britain, and under active consideration by the entire European Union.

A bill to enact such a measure for the U.S., which had an FTT from 1914 -1966, is expected to be re-introduced soon.

So I wonder if Defazio is going to reintroduce his ftt proposal? Sounds like something might be coming.

-Guru
 
Germany hopeful of transaction tax proposal from EU:

BERLIN, July 8 (Reuters) - Brussels has sent positive signals concerning an EU proposal on a financial transactions tax, Germany's finance ministry spokesman said on Friday.

EU authorities would likely publish the proposal this autumn, the spokesman told a news conference.

http://www.xe.com/news/2011/07/08/2...&utm_content=NOGEO&utm_campaign=News_RSS_Art4

So if the EU comes forward with their ftt proposal in the fall it would then need to be voted on by all the member states correct? Hopefully when that vote fails this stupid tax will be laid to rest.

-Guru
 
Quote from listedguru:

"Nurses Call for Wall Street Tax vs. Cuts to Medicare, Medicaid & Social Security."

NNU members issued the call ahead of a debate being held Friday in Washington between supporters and opponents of a financial transaction tax (FFT) similar to those employed in more than 15 countries, including Great Britain, and under active consideration by the entire European Union.

A bill to enact such a measure for the U.S., which had an FTT from 1914 -1966, is expected to be re-introduced soon.

So I wonder if Defazio is going to reintroduce his ftt proposal? Sounds like something might be coming.

-Guru
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be serious. to the mathematically illiterate which includes most of member of congress, except when it comes to lining their own pockets, it looks like an easy source of revenue. then all the pollyannas on this thread will be flipping hamburgers while the cfd pumpers will be screaming how they are going to trade them when the cfds are not legal in the US. furthermore they are not easy to put up even when legal.
 
Quote from zdreg:

be serious. to the mathematically illiterate which includes most of member of congress, except when it comes to lining their own pockets, it looks like an easy source of revenue. then all the pollyannas on this thread will be flipping hamburgers while the cfd pumpers will be screaming how they are going to trade them when the cfds are not legal in the US. furthermore they are not easy to put up even when legal.
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LOL. A ftt proposal would never even make it out of committee in this current congress. All tax bills have to originate in the House and last I checked one Mr Dave Camp (R) heads up the House Ways and Means Committee (the tax writing committee).

They couldn't even get Defazio's ftt proposal out of committee when the dems controlled the house and headed up the ways and means. Can you say no support for a ftt in the US? And don't even get my started on the Senate:)

-Guru
 
The FTT is relentlessly pushed by a fanatical group of leftists and supported by the masses because it "sounds good." Consequently, these FTT tax proposals aren't going away any time soon. Be prepared to fight this stupid tax for the next several decades. Even if it fades into the background for a while, the FTT will emerge from the shadows again... and again.

Quote from listedguru:

Hopefully when that vote fails this stupid tax will be laid to rest.

-Guru
More...
 
"The resolution recommends "to present together with our European partners a draft legislation for the implementation of financial transaction tax at the latest at the first meeting of the EU council in automn, which contains the following elements:

- a tax of 0,05% on all financial transactions;

- with as tax basis all transactions on exchanges and OTC, comprising stocks, bonds and derivatives, as well as currency transactions;

- attribution of the tax revenues to the national budgets;

- such a draft legislation should be presented at European level, or,

If this should not be possible, in the Euro-zone or by a group of member countries"

http://www.globalsocialjustice.eu/i...&id=105:peter-wahl-weed&catid=2:news&Itemid=8
 
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