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

The crux of the issue is the public's misunderstanding of speculation and the productive role it has in a market economy. The pro-FTT crowd view speculation as pure gambling, with no beneficial side-effect. That is not the case. Illiquid markets create distorted prices, which are then acted on by producers and consumers alike. When producers invest scarce capital into business relying on distorted prices, they often lose - either creating too much supply in a market that has enough, or neglecting capacity expansion in markets that don't. This destroys capital and increases the cost of all goods, which the consumer ultimately finances through higher prices at the checkout = reduction in living standards. So what makes liquid markets? Speculators. Even though speculation provides no direct benefit, the indirect benefits it provides are fairly-priced liquid markets, which the real economy then uses to make production choices that effect everyone. This is why speculation in futures was allows to begin with.

Maybe Green could bring that up in his next article?
 
Here's the thing about OWS, adbusters, Anonymous, etc.

I haven't done the research but I will gladly make a bet that they don't make substantial campaign contributions. If they do it is either a small amount or to independents who never get elected anyway.

I'm pretty sure that the weak attempt to evict OWS by "needing to clean the park" was abandoned because someone realized that if people begin to suspect that OWS was forced out - it legitimizes the movement.

Merkel and company are at the very heart of the financial disaster in Europe. They are banging their own drums for an FTT. It appears they will fail -- at least at the global level... and perhaps at the EU level as well.

So why would a bunch of apparently unemployed slackers get their wish for a robin hood tax? If the FTT passes in the US or at the G20 level the politicians in the US will spout out bullcrap like "the inspiring young people of our nation in the OWS movement blah blah blah"

That's just bullcrap though. No one is making REAL decisions based on this nonsense. Electioneering - HELL YES. Real decisions - HELL NO.

If the FTT passes in the US or on the G20 level it's because someone with actual power wants it... and I'll also make a bet that there will be loopholes and exemptions for those powerful folks and none for us.

Just my 2c.
 
The G-20 can't impose a tax on us. Only Congress can do that.

Right now, there's no way the FTT could even get out of congressional committee for a vote. But that could change in a single election.

Look at Denmark, for example. Less than a year ago the government of Denmark came out strongly against the FTT. The Finance Minister said it would damage financial markets and drive investment capital out of the country. In the recent election, unions ran a heavy propaganda campaign against all politicians who opposed the FTT. Less than a year later Denmark has a new government that strongly favors the FTT. They made a 180 degree turn on election day.

The 2012 US elections are crucial. If control of congress changes, it's an entirely new ballgame for the FTT.

Quote from BA_Trader:


If the FTT passes in the US or on the G20 level it's because someone with actual power wants it...

More...
 
Quote from jackpearson:

POST REPLIES AT THE BOTTOM OF THIS ARTICLE! ANONYMOUS REPLIES ACCEPTED.

http://www.adbusters.org/blogs/adbusters-blog/robinhood.html
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Don't post direct links to enemy sites. Any clicks on the link can be backtracked to this forum. If you must go to sites such as this, then copy the link and open it in a separate window. This will prevent the originating site from showing up in the server log.

In the future, I suggest writing links like this: www_adbusters.org/blogs/adbusters-blog/robinhood.html.
 
Quote from FightTheFuture:

"...this tax might be the first tax in history that is actually designed to have a negative yield."

http://online.wsj.com/article/SB10001424052970204346104576636630737174192.html
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Even the EU Commission predicts 1.8 percent reduction in national income.
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This tax is a political deal. One, that we all need to understand moving forward (understand the enemy). These clowns aren't that dumb, they know the negative destruction that this tax does....this is an agenda or say a vendetta against capitalism and markets. It is being sold to the masses as something else...and the OWS drones just repeat the same things they are told by the big liberal socialist machine.

It will always be on the table globally somewhere, probably for the rest of my life.
 
well they feel wall st has the power to destroy the american way of life. ows and tea party against wall st bailouts, we will never bail them out again. Wall st has no safety net, or allies. They need a marketing team. Good PR. Schumer cant defend all of them
 
Quote from bullmarket79:

well they feel wall st has the power to destroy the american way of life. ows and tea party against wall st bailouts, we will never bail them out again. Wall st has no safety net, or allies. They need a marketing team. Good PR. Schumer cant defend all of them
More...

Nothing wrong in that thinking.

The FTT does nothing to the ones they want to hurt. The investors/traders pay this tax and more than likely they would have to give exemptions to the MM's, so the firms/banks may even profit handsomely on a FTT.

That is the disconnect with OWS....these people don't understand who pays this tax. Not to mention the destruction of liquidity, higher spreads....mutual fund holders, pensions, etc all pay this tax. All passed down.

If they want to get "wall street" banks, they put a direct levy on them. Taxing trading does nothing to these guys.
 
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