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

[Rantany]

Hoban: French FTT does not mean eurozone tax is inevitable

http://www.moneymarketing.co.uk/pol...an-eurozone-tax-is-inevitable/1045296.article

He said: “I would not assume a eurozone wide FTT is inevitable. Some financial centres in the eurozone would be adversely affected and there are plenty of people in Europe who can see the pros and cons and perhaps share the same view as us. So I suspect recognising the degree of opposition to an FTT may be one of the reasons Sarkozy has gone for unilateral action.”

[...]

 

[listedguru]

Quote from TraDaToR:

http://www.reuters.com/article/2012/01/31/britain-eu-tax-idUSL5E8CV42220120131

Even the stamp duty scares me with comments like this:

"There is talk in diplomatic circles of an alternative framework to coordinate national stamp duties in euro zone countries as a first step to a harmonised transaction tax."

They just want to get their foot in the door and get everyone on board and then the sky's the limit.

-Guru

 

[tomdavis]

Quote from listedguru:

Even the stamp duty scares me with comments like this:

"There is talk in diplomatic circles of an alternative framework to coordinate national stamp duties in euro zone countries as a first step to a harmonised transaction tax."

They just want to get their foot in the door and get everyone on board and then the sky's the limit.

-Guru

"The moment in which we introduce a tax on financial transactions, of course, everything looks different. Then we can also raise the tax rates." -- EU Tax Commissioner Algirdas Semeta

 

[listedguru]

Quote from tomdavis:

"The moment in which we introduce a tax on financial transactions, of course, everything looks different. Then we can also raise the tax rates." -- EU Tax Commissioner Algirdas Semeta

Yes it's very important to keep this quote in mind. These Socialists are hell bent on destroying capitalism at all costs.

Very good news that the UK is holding strong.

 

[seasideheights]

Quote from lindq:

STAY ON TOPIC AND MOVE THIS CRAP TO ANOTHER THREAD.

The hundreds of traders who are monitoring this FTT thread have no interest in hearing personal rants. If you want to entertain yourselves go to Chit Chat. Or better yet, leave the site.

Reminder for everyone: This is a thread read by professional traders & industry executives. It's currently being hosted on a retail trading board in order to raise the awareness of retail traders. Please refrain from personal attacks on others & post as you would if you were talking to leaders in the trading/investing world. ...because, you are.

Thank you.

 

[Robert A. Green]

Nicolas Sarkozy's new tax won't make him Robin Hood | Seth Freedman | Comment is free | guardian.co.uk
http://www.guardian.co.uk/commentisfree/2012/feb/01/nicolas-sarkozy-tax-robin-hood?newsfeed=true

Hard to believe this is the same Guardian that was also piling on banks last year and lukewarm on FTT. Good to see them wake up and take Sarkozy and his FTT plan to task. Maybe, the media in the UK and hopefully EU next will stop demonizing banks._

 

[TraDaToR]

Anyone noticed the date the french retail stamp tax will be applied? August 1st. There are chosing this date so that they can argue that the volume fall is due to vacation of operators ... But it is really dangerous for french economy because the lack of liquidity will accentuate the crash this tax will trigger...

 

[sculptor66]

Quote from TraDaToR:

Anyone noticed the date the french retail stamp tax will be applied? August 1st. There are chosing this date so that they can argue that the volume fall is due to vacation of operators ... But it is really dangerous for french economy because the lack of liquidity will accentuate the crash this tax will trigger...

Another explanation would be that this date is AFTER the french elections.

 

[TraDaToR]

Yes, but why August? It would have been more logical to choose July 1 st to have a full semester.

 

[sheda]

Instigating such unfounded fears is inexpensive and irresponsible. An open and straightforward debate on the FTT is, of course, of central importance, but it must be based on facts. And it must be conducted with the sense of proportions and really refer to the existing proposal. It is time to get rid of some of the myths surrounding our proposal for a Financial Transaction Tax.

First of all, concerning the economic impacts in the EU, the FTT will neither damage growth and competitiveness nor lead to more unemployment. From an isolated perspective every tax causes economic costs. However, the costs of the FTT are small and, absolutely legitimate, given the enormous support the financial sector has been granted in the recent years.

Furthermore, the costs have to be offset against the positive effects from the use of the revenues of the FTT. If the expected annual 57 billion Euros are used to consolidate national budgets, to lower other taxes or to invest in public services and infrastructures, the financial transaction tax will surely have a positive impact on growth and employment in Europe.

http://stampoutpoverty.wordpress.co...-equity-and-considerable-additional-revenues/


Algirdas Å emeta is at it again, no doubt the new assesement report will be out soon painting a picture of dramatic growth as a result of the FTT, how ever I dont see goverments buying it, the total inability to adress growth and competative issues displayed by the EU in the recent crisis is not going to go unoticed and there claims of what can be achived with the revenue make them look foolish.