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

Even representatives from the U.S. Chamber of Commerce admit that this proposal is going to receive serious consideration this session, as congressional Democrats look to trim the deficit in a way that doesn’t overburden the middle and lower classes that are already stretched to the breaking point. “In reality, a proposal like this is going to be on the table in some regard,” said Tom Quaadman, executive director for financial reporting policy and investor opportunity at the U.S. Chamber of Commerce.


http://thinkprogress.org/economy/2011/10/05/336517/defazio-financial-transactions-tax/
 
Quote from jackpearson:

Even representatives from the U.S. Chamber of Commerce admit that this proposal is going to receive serious consideration this session, as congressional Democrats look to trim the deficit in a way that doesn’t overburden the middle and lower classes that are already stretched to the breaking point. “In reality, a proposal like this is going to be on the table in some regard,” said Tom Quaadman, executive director for financial reporting policy and investor opportunity at the U.S. Chamber of Commerce.


http://thinkprogress.org/economy/2011/10/05/336517/defazio-financial-transactions-tax/
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The FTT won't see the light of day with a Republican House of Representatives. Defazio's proposal won't ever make it out of committee. Proposal's like this have always been on the table. Just look how far back this thread has gone and how many times DeFazio has brought it up. He couldn't get anywhere with this legislation when the Democrats controlled everything with filibuster proof majorities. Liberal bullshit drama.
 
Quote from rc8222:

The FTT won't see the light of day with a Republican House of Representatives. Defazio's proposal won't ever make it out of committee. Proposal's like this have always been on the table. Just look how far back this thread has gone and how many times DeFazio has brought it up. He couldn't get anywhere with this legislation when the Democrats controlled everything with filibuster proof majorities. Liberal bullshit drama.
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Don't so easily discount the Occupy Wall Street October 29th rally for this tax. Every union will be on the streets for it blocking traffic, making the front page of every paper in the big cities. All for this 1 tax that will destroy us.
 
Quote from jackpearson:

Don't so easily discount the Occupy Wall Street October 29th rally for this tax. Every union will be on the streets for it blocking traffic, making the front page of every paper in the big cities. All for this 1 tax that will destroy us.
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These clowns can rally all they want. These union turds have been protesting for the FTT in some form or another for years. I'm not going to lose sleep over this, neither should anyone else. As long as the GOP controls at least one House of Congress, this tax has no chance whatsoever of becoming law in the U.S. Like I said, let all the union libertard douche bags protest to their hearts content, as they have a little problem when their are just as many Democrats that are against a FTT as their are Republicans, especially the ones that represent states where the big financial exchanges are located.
 
I'm a dem and I can honestly say I hope that this transaction tax bullshit is shut down. The banks will find someway around it, they always do, but us retail traders and the average investor can't and they are going to be the ones who are going to feel this tax the most.
 
I can't believe this. These loser ass clowns who half are high and need a shower and a job, are gonna push this. This could get scary on the news front. I hate all liberal douches.
 
Quote from Stok:

I can't believe this. These loser ass clowns who half are high and need a shower and a job, are gonna push this. This could get scary on the news front. I hate all liberal douches.
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I think this will all settle down once we get passed the G20 meeting in November. The G20 is going to give a global ftt a huge thumbs down so hopefully things will calm down then.

Right now there is a lot of hype heading into that meeting with all the protests and the upcoming Defazio bill (again). If the ftt were a stock I would start shorting it soon:)

-Guru
 
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