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

Divisions appear in German coalition over Schaeuble's remarks:

(google translation from German)

In the new coalition is brewing controversy over the introduction of a financial transaction tax. The fiscal policy spokesman of the FDP parliamentary group, Volker Wissing rejected on Thursday an attack by Finance Minister Wolfgang Schäuble (CDU), who had described the introduction of such a charge only at the level of the 17 euro-zone countries once again to be realistic. When a financial transaction tax is not enforceable in all 27 EU states, is "she's definitely failed," Wissing said on the sidelines of the FDP exam on Schloss Bensberg.

http://www.stern.de/news2/aktuell/f...finanztransaktionssteuer-zurueck-1722916.html
 
Quote from Xena:

Don't know why you chaps are getting all worked up about this so much. It ain't going to happen: the country that implements this first will find that overnight all their trading moves to another country where there is no such tax. And we all know that the Wall Street lobby is too powerfull for this to happen, look at the bailout and handouts to those who were responsible for the previous shockwave.
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I've had similar thoughts.

If Wall St is able to get away with so much and buy their way out of anything, then surely they have way more clout than a nurses union, right?

If Goldman Sachs really is the all-powerful evil empire that secretly owns/controls everything in the USA, then surely they won't let a transaction tax come to pass and put their profitable HFT bots out of business.

I'm not suggesting we be complacent about it. By all means be vocal and outspoken against it. But sometimes I question if this tax is really as likely as many of us fear it is...
 
At the moment, the FTT is extremely unlikely. But that doesn't mean the situation won't change. And it could happen sooner than any of us would like to believe.

Proponents of the FTT are organized, relentless and financed by unions with deep pockets. They're not deterred by the fact that the FTT has been tried and failed miserably. They're not deterred by the huge job losses it would cause or the fact that prior FTT taxes have been a total failure, a net loss the the national treasury. The FTT proponents don't care about any of these things. They're organizing and talking to people every day. They're applying pressure to politicians every day. They have the will and the resources to maintain their efforts for years, or even decades.

The FTT is unlikely today, but that can change in the blink of an eye.


Quote from dv4632:

... But sometimes I question if this tax is really as likely as many of us fear it is...
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Quote from seasideheights:

http://www.dclabor.org/ht/display/ArticleDetails/i/94624
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Hundreds of activists? lol Looks like no more than 40 or 50. I love how these brain dead nurses want to protest against Wall Street, when in 2014, their profession will suffer greatly when Obamacare goes into effect. Absolute clueless morons!!!!!!! Since it's big labor/unions thugs organizing this, I'll bet their are only one or two nurses in the entire crowd of demonstrators. lol Just like all the fake doctors in white lab coats standing next to Obama when giving an Obamacare speech.
 
Quote from seasideheights:

Stories from today's Nurse's protests in congressional offices around the USA.

http://www.sandiegoreader.com/weblogs/news-ticker/2011/sep/01/nurses-call-for-stock-trading-tax/

http://www.orlandosentinel.com/health/os-nurses-union-rally-20110901,0,3412510.story

http://www.uppermichiganssource.com/news/story.aspx?list=~\home\lists\search&id=658686
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I find it humorous that these union clowns are protesting in front of Republican politicial offices, when for the last two years Democrats had supermajorities in Congress, and didn't so much as take one vote on any FTT legislation. Why haven't these union ass wipes staged any protests in front of Democrat lawmakers offices?????
 
Quote from seasideheights:

Stories from today's Nurse's protests in congressional offices around the USA.

http://www.sandiegoreader.com/weblogs/news-ticker/2011/sep/01/nurses-call-for-stock-trading-tax/

http://www.orlandosentinel.com/health/os-nurses-union-rally-20110901,0,3412510.story

http://www.uppermichiganssource.com/news/story.aspx?list=~\home\lists\search&id=658686
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Wow these folks should really stick to nursing and quit sticking their noses in stuff they know nothing about. Let's just hope these 'rallies' fell on deaf ears:)

-Guru
 
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