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

Quote from andohmeeta:

They then pointed out that even if it were so, a 5% reduction on an $80,000 gross annual pension amounted to “just” $4,000 – a figure they would regard as a small and unselfish contribution for the wider good of our communities.
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For the last two years they've been telling everyone this is a tax on financial institutions "to hold them accountable for the consequences of their greed." Now they're willing to admit that the FTT may, in fact, be a tax on everyone's pensions and savings. Whether it's 5% or 1% isn't the point. The point is, they're taxing the wrong people.

If that's the best they can do, they've lost the argument. I can't see many people willing to give up a percentage of their retirement to "pay for the crimes of the greedy banksters."

Bottom line: The FTT isn't a tax on bankers, it's a tax on retirement savings/pensions.

If I could say something to the nurse's union right now it would be this: If it's the greedy bankers you want to hold accountable, why are you punishing me by taxing my retirement savings?
 
For the US folks here... DeFazio's Republican competition: http://www.artforcongress.com/

Apparently this guy came from nowhere and gave Fozzy (wokka wokka) a run for his money during the last election cycle.

Defazio has been calling for an FTT in one form or another since 2008... he has introduced 2 bills on the matter. As long as he stays in office he'll keep introducing FTT bills.

Art Robinson's web site has a big "donate" button at the top... no need to be an Oregon resident.
 
Hey Folks,

I've been taking a little time off from the ftt issue to deal with some other issues of my own. Anyway whats the latest? From reading over the thread it looks as though the EU (and most likely Eurozone) are both still opposed to any ftt. Any signs of anyone wavering?

-Guru
 
"President Obama's team of negotiators at the United Nations Climate Change Conference may agree to a tax on foreign currency transactions, designed to pay for a "Green Climate Fund," that would fall disproportionately on American travellers and businesses, according to a group attending the conference that is skeptical of the UN position on global warming.

Negotiators at the conference are considering "a new tax on every foreign currency transaction in the world," according to the Committee for a Constructive Tomorrow (CFACT)."

http://campaign2012.washingtonexami...rt-un-tax-americans-green-climate-fund/237466

This made it to drudgereport.
 
Negotiators at the conference are considering "a new tax on every foreign currency transaction in the world,"
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how do they force this onto country's who do not want involvement?
 
Quote from jackpearson:

"President Obama's team of negotiators at the United Nations Climate Change Conference may agree to a tax on foreign currency transactions, designed to pay for a "Green Climate Fund," that would fall disproportionately on American travellers and businesses, according to a group attending the conference that is skeptical of the UN position on global warming.

Negotiators at the conference are considering "a new tax on every foreign currency transaction in the world," according to the Committee for a Constructive Tomorrow (CFACT)."

http://campaign2012.washingtonexami...rt-un-tax-americans-green-climate-fund/237466

This made it to drudgereport.
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This makes perfect sense. FX speculation is a major cause of global warming. All that hot money circulating the globe has to be a serious problem for world temperatures. Just plot the rise of FX speculation against the global temperature and you will see the obvious correlation. By funnelling all his hot money into a Green Climate Fund, the Committee for a Constructive Tomorrow (CFACT) will have the funds to construct a Global Air Conditioning System(GACS) which will be able to absorb most of the heat generated by bonds and options.
 
Quote from euclid:

This makes perfect sense. FX speculation is a major cause of global warming. All that hot money circulating the globe has to be a serious problem for world temperatures. Just plot the rise of FX speculation against the global temperature and you will see the obvious correlation. By funnelling all his hot money into a Green Climate Fund, the Committee for a Constructive Tomorrow (CFACT) will have the funds to construct a Global Air Conditioning System(GACS) which will be able to absorb most of the heat generated by bonds and options.
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Don't laugh - FTT and climate change are bedfellows because these are the two popular emotional drivers behind globalization. Find out who finances the drive for these and you'll know what the road map is.
 
Quote from jackpearson:

"President Obama's team of negotiators at the United Nations Climate Change Conference may agree to a tax on foreign currency transactions, designed to pay for a "Green Climate Fund," that would fall disproportionately on American travellers and businesses, according to a group attending the conference that is skeptical of the UN position on global warming.

Negotiators at the conference are considering "a new tax on every foreign currency transaction in the world," according to the Committee for a Constructive Tomorrow (CFACT)."

http://campaign2012.washingtonexami...rt-un-tax-americans-green-climate-fund/237466

This made it to drudgereport.
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CFACT suggests that Obama is open to implementing this tax and similar policies in the absence of a full climate treaty, which would require congressional approval. "We have learned that while many have discounted this conference, knowing that a full climate treaty is difficult to achieve especially with a U.S. Senate that will not vote to ratify," CFACT says. "Obama and his fellow climate travelers are working around the Senate and planning to stick America with the bill."

You still need Congressional approval for taxation - Obama can't pass it/implement it via executive order.

This whole article sounds like a reactionary piece trying to pass itself off as news. This article is from a blog of a right leaning news site (Washington Examiner). This is not sourced and they are the only one's mentioning it.

Not saying we should let our guard down, but this "blog" article is highly suspicious during an election cycle.
 
Quote from jackpearson:

http://www.nytimes.com/2011/12/07/business/global/micro-tax-on-financial-trades-gains-advocates.html
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This quote from the article is pretty telling: I mean how many times does the Obama Administration need to repeat this?

Administration officials say they would prefer a tax on the assets of the largest banks as a way to discourage them from risky activities. “The president is sympathetic to the goals that a financial transactions tax is trying to achieve and he is pushing for a financial crisis responsibility fee and closing other Wall Street loopholes as the best and most feasible way to achieve those goals,” an administration official said.

They know that this tax would be a direct tax on investment and a tax on the middle class. At least the admininstration gets this. Why the hell can't the Europeans understand this (LOL). Oh yeah thats because they don't care:)

-Guru
 
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