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

Recent debate on Channel 4 News between Matthew Sinclair of The Taxpayers Alliance and actor Bill Nighy :mad: :-
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http://www.taxpayersalliance.com/20...bill-nighy-steal-savers-give-politicians.html
 
Quote from andohmeeta:

Host leaders use the G20 stage to push their own agendas – 2012 Mexico, 2013 Russia, 2014 Australia, 2015 Turkey.

dwrowley: “I'm not quite sure why people don't universally see a FTT as both impractical to manage as well as an insanely bad idea...”

clearinghouse: “There are web sites out there, advocacy groups, and grassroots operations focused around this one issue. I think the elites are definitely financing this because it has all the markers of a propaganda operation”

zdreg: “the response to congress has to have a mathematical example which shows that the FTT would put you out of business. more importantly the tax will never be collected because traders will withdraw from the market.
I don't believe that fazio or harkin understand this point.”

These comments highlight absence of a “NON-trader-biased” (anonymously composed) FTT website compiling simplified analysis of the stealth tax, demystifying its dangers and complexities. Ordinary, mass-dudded people have no alternative, truthful, readily understood resource.
Persuasion requires clarification using the KISS principle. The deceivers are applying this tactic.
Ready links to excerpts from original IMF report the recent EU report (that debunked their own proposal), points from yesterday’s Chance 14 questions etc. etc. are hidden truths and factually important.
In any campaign the public (and political researchers/advisors) must be facilitated with facts. It's too easy for them to receive and believe the loudest, most insistent voices.

e.g. "Financial Transaction Tax - the Hidden (Ugly) Truth". The link to an educational, NON-trader-biased resource could become the gold standard go-to for journalists, politicians, news comments etc.
More...

So Mexico, Russia, and Australia chair the 2012, 2013, and 2014 G20's. Thats a little bit of good news for us all three of them don't support global ftt's:)

-Guru
 
Nigel Farage: Who will defend the City?

When Cameron claims he’ll defend London from Brussels he’s lying, says UKIP’s furious leader Nigel Farage.

"Worse still there is nothing that we, the electorate, can do to change any of this in a future general election. The latest Brussels wheeze is a financial transactions tax, or Tobin Tax. This would cost the City nearly £40bn a year. Even if George Osborne has the courage to veto it, the message should be that we are embroiled in an organisation that wishes us harm."


http://www.londonlovesbusiness.com/commentanalysis/nigel-farage-who-will-defend-the-city/949.article

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For those unfamiliar with Nigel Farage (MEP), here he is giving the European Parliament an earful that they're unlikely to forget.

http://redicecreations.com/article.php?id=8842
 
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http://www.youtube.com/watch?v=s31h4N54xco

According to sarkozy:

As well as France the

The European Commission (not the EU)
Germany
Spain
Argentina
The African Union
Ethiopia
The UN Secretary General
Brazil

are all in favor in principle..

Does Ethiopia even have a stock market?

If you listen at the end, only about 2 or 3 people clap his speech. These are most probably the French, German and EC members of the crowd.
 
Quote from southall:



According to sarkozy:

As well as france the

European Commission
Germany
Spain
Argentina
Arican Union
Ethiopia
The UN Secreteary General
Brazil

are all in favor in principle..

Does Ethiopia even have a stock market?
More...

does that mean all other countries oppose it? i don't get this list, it seems so idiotically random.
 
Quote from bjw:

does that mean all other countries oppose it? i don't get this list, it seems so idiotically random.
More...

He must be trying to show the FTT has global support (ie from countries in many continents). In reality he could only list a couple of countries in South America and Africa.

Even in Europe it seems to be only 2 countries pushing for it, France and Germany. The others like Netherlands are being politically pressured to agree in principle even though they have recently stated they are against it.
 
Interesting blog post from the Independent Newspaper website, hints that maybe Sarkozy is political posturing (the French elections are very soon) and not really pushing the FTT very hard behind the scenes.


One theory is that the former IMF chief, Dominique Strauss-Kahn was against FTT, so Sarkozy was going to use it as a political weapon against him in the French elections (knowing full well the FTT is never going to happen as the US and UK will block it).

Is France the real Financial Transaction Tax villain?

Cannes

The standard narrative regarding a Financial Transaction Tax is well-rehearsed: France and Germany would dearly like to introduce such a levy, but they are being frustrated by the British government, which cares more about protecting rich bankers than helping the world’s poor.

But I’ve picked up here in Cannes that some in the charity world do not see it quite like that. Yes, they blame the British (backed up by the US, Canada and Australia) for their obstruction, but they’ve long known that the UK would not change its position on the FTT. The real object of frustration among some campaigners is now France. They think President Nicolas Sarkozy isn’t pushing the FTT hard enough behind the scenes, despite his commissioning of Bill Gates to conduct a heavyweight report on the subject for this G20 meeting.

“They’re just going with the flow. They’re using the Anglo-Saxon objections as an excuse not to push it forward,” a source in the charity sector, who is close to Gates, told me.

The same source told me that if Sarkozy truly believes that a FTT is “morally essential”, as he described it yesterday, he would move ahead with such a levy with like-minded countries, despite the refusal of the Brits and others to join in:

“We always knew that the UK and others would object. But there’s no reason why France and Germany could not take it forward without them. There is a coalition of the willing there.”

The concern is that Sarkozy will simply use the FTT for political posturing and point scoring. And the charity world, supportive as it is of the levy, recognise that Britain is doing a much more impressive job in meeting its international aid commitments than France and many other countries that back the FTT.

So why would Sarkozy be soft pedalling the FTT? One cynical explanation here is that when the former IMF chief, Dominique Strauss-Kahn, was gearing up to run for the Elysee, Sarkozy needed some way of demonstrating his heavyweight financial credentials. But now that DSK has fallen away, according to this view, Sarkozy is much less bothered by the whole FTT idea.

The commitments in today’s G20 communique on the FTT, particularly regarding next steps, should give us an indication of precisely how much Sarokzy really cares about the levy.
More...

http://blogs.independent.co.uk/2011/11/04/is-france-the-real-financial-transaction-tax-villain/
 
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