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

Two U.S. lawmakers will introduce measures to impose a transaction tax on financial firms that resembles a proposal released by the European Union.

harkin and defaggio will introduce the bills tomorrow in their respective chambers.

Lawmakers to Propose Transaction Tax for Financial Firms Modeled on Europe

By Phil Mattingly - Nov 1, 2011 3:42 PM GMT-0400

“It’s a significant way to raise some needed revenue,” Harkin said in an interview today in Washington. “Quite frankly, I bet nobody would even feel it.”

The European Union in September proposed a financial transaction tax that would take effect in 2014 and raise about $57 billion euros ($78 billion) a year. Germany and France have led a push for global implementation.

Harkin and DeFazio are proposing a lower rate in the United States. While the EU proposal would apply a tax of 0.1 percent on trades of stocks and bonds, the U.S. tax would be “about three basis points” or 0.03 percent, Harkin said.

http://www.bloomberg.com/news/2011-...ax-for-financial-firms-modeled-on-europe.html
 
Quote from Tauvros:

Two U.S. lawmakers will introduce measures to impose a transaction tax on financial firms that resembles a proposal released by the European Union.

harkin and defaggio will introduce the bills tomorrow in their respective chambers.

Lawmakers to Propose Transaction Tax for Financial Firms Modeled on Europe

By Phil Mattingly - Nov 1, 2011 3:42 PM GMT-0400

“It’s a significant way to raise some needed revenue,” Harkin said in an interview today in Washington. “Quite frankly, I bet nobody would even feel it.”

The European Union in September proposed a financial transaction tax that would take effect in 2014 and raise about $57 billion euros ($78 billion) a year. Germany and France have led a push for global implementation.

Harkin and DeFazio are proposing a lower rate in the United States. While the EU proposal would apply a tax of 0.1 percent on trades of stocks and bonds, the U.S. tax would be “about three basis points” or 0.03 percent, Harkin said.

http://www.bloomberg.com/news/2011-...ax-for-financial-firms-modeled-on-europe.html
More...

Thats very interesting that they proposed a rate much lower than what the EU is pushing for. It's still a terrible tax (at any rate) and would do great harm.

I still don't think this will find any support here in the US congress:)

-Guru
 
Quote from Tauvros:

Two U.S. lawmakers will introduce measures to impose a transaction tax on financial firms that resembles a proposal released by the European Union.

harkin and defaggio will introduce the bills tomorrow in their respective chambers.

Lawmakers to Propose Transaction Tax for Financial Firms Modeled on Europe

By Phil Mattingly - Nov 1, 2011 3:42 PM GMT-0400

“It’s a significant way to raise some needed revenue,” Harkin said in an interview today in Washington. “Quite frankly, I bet nobody would even feel it.”

The European Union in September proposed a financial transaction tax that would take effect in 2014 and raise about $57 billion euros ($78 billion) a year. Germany and France have led a push for global implementation.

Harkin and DeFazio are proposing a lower rate in the United States. While the EU proposal would apply a tax of 0.1 percent on trades of stocks and bonds, the U.S. tax would be “about three basis points” or 0.03 percent, Harkin said.

http://www.bloomberg.com/news/2011-...ax-for-financial-firms-modeled-on-europe.html
More...

The comedy show continues with these trolls.

harkin and defagio need to be swimming wit da fishes.
 
Get ready folks.

Write up your best arguments against the tax & put it in a file on your computer.

Then paste it at the end of each of the articles coming out tomorrow.

To find the articles, go to news.google.com & put in DEFAZIO HARKIN TRANSACTION TAX for the search term, hit ENTER & then on the left side click on "Sort by Date".

It's times like this that this thread was created & has been maintained.

Let's take action.

Our viewpoint needs to get out.

It's our livelihoods that are at risk.

It doesn't take long to paste pre-written arguments at the bottom of the articles.

Think of it as employment insurance.
 
That Bloomberg article was updated with this:

"“We’re very much synched up with the goal of assuring that the largest financial institutions” bear the burden for risky investments, Lael Brainard, the Treasury undersecretary for international affairs, told reporters yesterday. The Obama administration has proposed a “financial crisis responsibility fee” to be paid by the largest banks, not retail investors."

This is exactly what we need to hear out of the Administration.
 
Quote from Stok:

That Bloomberg article was updated with this:

"“We’re very much synched up with the goal of assuring that the largest financial institutions” bear the burden for risky investments, Lael Brainard, the Treasury undersecretary for international affairs, told reporters yesterday. The Obama administration has proposed a “financial crisis responsibility fee” to be paid by the largest banks, not retail investors."

This is exactly what we need to hear out of the Administration.
More...


Yes there are more quotes from Leal Brainard in this piece:

http://www.monstersandcritics.com/n...nes-US-sceptical-of-EU-backed-transaction-tax

'We're very much in sync with Europe on their goal of ensuring ... that the financial sector, large financial institutions, bear their fair share of the burden,' Lael Brainard, treasury department under secretary for international affairs, said during the briefing.

"But she insisted that the US-proposed responsibility fee would better deter the 'kind of risky behaviour' that led to the crisis as well as ensure that large financial institutions 'and not retail investors' bear the burden."

"Such a fee would also be more difficult to evade, she said."

I think these above quotes from the treasury dept under secretary for int'l affairs are screaming that the US (Obama admin) does not support a ftt. I think they've made it very clear here.

-Guru
 
One last line I forgot to post from the Bloomy article:

"Obama administration officials support efforts to assess fees on financial firms that pose a risk to the larger economy; however, they oppose levying fees on ordinary investors."

That says it all. The EU can shove it and slowly bleed themselves to death anyways.
 
Quote from Stok:

"Obama administration officials support efforts to assess fees on financial firms that pose a risk to the larger economy; however, they oppose levying fees on ordinary investors."
More...
I wish someone in the media would ask Rep DeFazio, Senator Harkin and the protesting nurses why they are so adamant about introducing levies on middle-class investors who have done nothing wrong.
 
Quote from JOSEF:

I wish someone in the media would ask Rep DeFazio, Senator Harkin and the protesting nurses why they are so adamant about introducing levies on middle-class investors who have done nothing wrong.
More...

If you've followed the FTT push by DeFazio since 2008 you would realize that he is very likely retarded. I'm not even saying that as a joke, I'm almost certain he has some sort of serious mental deficiency.

Anyway guys, get your arguments written up and paste the shit out of them for the next little while.
 
You must log in or register to reply here.
Back
Top