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

He said in a television interview that the tax would enable French companies to keep jobs at home instead of outsourcing them abroad.
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Oh boy..


Some governments have in recent years taken up the campaign but most now intend to use the so-called "Robin Hood tax" to help reduce their budget deficits rather than embark on specific social programmes.
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Charity people, whats it feel like to be used as usefull idiots?
 
Quote from sculptor66:

Sarkozy announces 0.1 percent transaction tax from August:

http://www.google.com/hostednews/af...ocId=CNG.218bcf7fdf123da81f848acd32746026.671
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He is clearly getting desperate, he is trying anything to cling on to power.

But the article doesn't provide detail:

Will Sarkozy try and pass this into law before the elections, or wait until if he is re elected?
Will it apply to all types of markets or just stocks?
Will it be a full FTT model or a Stamp tax model?
 
Quote from slumdog:

Will it be all types of markets or just stocks?
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<i>Sarkozy, who turned 57 on Saturday, said a financial transaction tax he is planning for August would set a tax of 0.1 percent on transactions in French securities.

He gave no detail on the tax, which France wants to be adopted across the European Union, <b>but a government source later said it would target shares</b>, not bonds, and could raise a billion euros annually.</i>

http://www.reuters.com/article/2012/01/29/us-france-sarkozy-deficit-idUSTRE80S0MS20120129
 
http://www.agi.it/english-version/b...e_s_sarkozy_signals_august_tobin_tax_adoption

(AGI) Paris - Despite some EU leaders' political opposition Nicolas Sarkozy is planning the independently adoption of a Tobin Tax. As of August this year, France will levy a 0.1pc on tax all financial transactions. The French president announced the move during a live TV broadcast just three months from the April 22 elections. Sarkozy explained that the move is intended to create a "shock effect", in the hope that other EU leaders will follow suit. Sarkozy described the Tobin Tax as a means of helping French companies maintain jobs in France rather than delocalise.
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So in fact, nobody really knows ;)

It's also doubtful, if the proposal would make it through parliament before the elections.

And after the elections, he's not president anymore ;)
 
Quote from Robert A. Green:

FTT revenues went from helping the poor in Africa to helping the 35-hour work week in France. Robin Hood - steal from the rich and pocket it.
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We should get on the robin hood website & twitter account & say we're pro Robin Hood Tax folks & are vehemently against the FTT as proposed since it doesn't funnel any money to charities.

Imagine convincing the Hoodies to protest AGAINST the current FTT for European budgets.

Getting into their group & turning the members into anti-FTT fighters.

That would be terrific.
 
Swan rejects financial transactions tax - The West Australian
http://au.news.yahoo.com/thewest/bu...0243/swan-rejects-financial-transactions-tax/

Watch world leaders rush to say we are not following Sarkozy on FTT. It's now pretty clear that FTT is the play book for socialists and Greens, the ones who want to "punish speculators", " make banks pay for their damage and bailouts", "use the money to help the worlds poor" and more.

It's starting to sound like a broken record.
 
How many NO's would it take before they will understand:

http://online.wsj.com/article/BT-CO-20120130-704690.html

German MoF: Germany Still Aims For EU-Wide Financial Transaction Tax

BERLIN (Dow Jones)--Germany won't follow France's example and go ahead with the introduction of a national financial transaction tax and instead aims for the introduction of a broad, European-Union wide tax, a finance ministry spokesman said Monday.

"Nothing has changed" for Germany, finance ministry spokesman Martin Kotthaus told reporters.

"We are discussing in Europe...the issue of a financial transaction tax based on the European Commission's proposal. We want this to be discussed as broadly and quickly as possible in order to see as soon as possible whether this is a path than can be pursued, and if not to discuss what the alternatives can be."

French President Nicolas Sarkozy said Sunday France will push ahead from August with a financial transaction tax of 0.1% on shares in companies listed in France, high frequency trading and trading in credit default swaps--insurance contracts that pay out in the case of default.

Germany and France had been lobbying jointly for a broad tax on financial transactions from simple stock purchases to complex currency trades. The move has found mixed support in Europe, and the U.K. flat out rejects any broad tax within the EU that could hurt the ability of London-based financial markets to compete internationally.

Germany's center-right coalition wants to introduce a such a tax on a EU-wide level. While German Chancellor Angela Merkel has said she would support the introduction of a financial transaction tax on a euro-zone wide level too, her junior coalition partner, the Free Democrats, oppose the tax on this smaller scale.
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Quote from Grandluxe:

But the other candidate wants a FTT too, so either way French traders are kaput?
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Yes for French traders, both presidents are bad (Hollande most likely even worse). But Sarkozy wants to introduce this tax immediately, while Hollande has said he first wants to examine everything.
 
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