1/4% Tax on all stock trades pushed in NY Times today
- Thread starter seasideheights
- Start date
You like how the dem's say this is "The People's Budget"?!
When it is the "people" who pay the FTT, and pay higher capital gains & dividend tax (in the budget), while the "manipulators" pay nada.
Once this Country can wake up to the democrat's constant class warfare, racism (just look at the FL case now), circle jerk with unions and guberment handouts for votes from the "dumbest of the dumb", when can finally start getting rid of these narcissists. They are here for one thing, power and control over the people, with the power concentrated to an elite demigod few. But that has been the master plan since Woodrow Wilson (our first socialist President).
When it is the "people" who pay the FTT, and pay higher capital gains & dividend tax (in the budget), while the "manipulators" pay nada.
Once this Country can wake up to the democrat's constant class warfare, racism (just look at the FL case now), circle jerk with unions and guberment handouts for votes from the "dumbest of the dumb", when can finally start getting rid of these narcissists. They are here for one thing, power and control over the people, with the power concentrated to an elite demigod few. But that has been the master plan since Woodrow Wilson (our first socialist President).
Yeah these libs roll out their progressive "people's budget" every year. They have been calling for an ftt in their budget for a few years now. I guess it's all for show on their part as the budget is laughable.
Also they have one lonely member in the Senate (Bernie Sanders).
-Guru
(google translation)
The Danish EU Council President Minister of Economic Affairs Margrethe Vestager will seek "alternatives" to the financial transaction tax. Before the EU finance ministers meeting on Friday in Copenhagen Vestager said that there is a large consensus that the financial sector have to contribute to solving the crisis. Now, the aim is "to gather ideas" and then to talk about alternatives. on the amount of ⬠parachutes, they would not comment.
http://www.boerse-express.com/pages/1236335
The Danish EU Council President Minister of Economic Affairs Margrethe Vestager will seek "alternatives" to the financial transaction tax. Before the EU finance ministers meeting on Friday in Copenhagen Vestager said that there is a large consensus that the financial sector have to contribute to solving the crisis. Now, the aim is "to gather ideas" and then to talk about alternatives. on the amount of ⬠parachutes, they would not comment.
http://www.boerse-express.com/pages/1236335
Germany proposes stamp-duty style tax for EU
COPENHAGEN, March 30 (Reuters) - Germany has proposed initially limiting any tax on financial transactions in the European Union to listed company shares, according to a document circulated at a meeting of EU finance ministers and seen by Reuters.
The document describes a two-stage approach of advancing towards a 'comprehensive financial transaction tax', with the first being 'guided by the overall approach of the British stamp duty reserve tax and the French tax on financial transactions'.
'This would entail a tax payable on all transactions involving shares of corporations listed on a stock exchange, with the tax levied according to the place where the corporation has its registered office,' the document said.
The document, which will be the basis of talks on the issue on Friday, said that negotiations on a broader tax that also covers bonds and derivatives should follow that initial step.
http://www.lse.co.uk/FinanceNews.as...e=Germany_proposes_stampduty_style_tax_for_EU
COPENHAGEN, March 30 (Reuters) - Germany has proposed initially limiting any tax on financial transactions in the European Union to listed company shares, according to a document circulated at a meeting of EU finance ministers and seen by Reuters.
The document describes a two-stage approach of advancing towards a 'comprehensive financial transaction tax', with the first being 'guided by the overall approach of the British stamp duty reserve tax and the French tax on financial transactions'.
'This would entail a tax payable on all transactions involving shares of corporations listed on a stock exchange, with the tax levied according to the place where the corporation has its registered office,' the document said.
The document, which will be the basis of talks on the issue on Friday, said that negotiations on a broader tax that also covers bonds and derivatives should follow that initial step.
http://www.lse.co.uk/FinanceNews.as...e=Germany_proposes_stampduty_style_tax_for_EU
Wow these idiots just don't get it. So they want to enact a stamp duty style tax in the EU as a stepping stone to a full blown ftt? Do they honestly think this has a chance at the EU or EZ level? I thought they were supposed to come up with viable alternatives to the ftt - surely a stamp tax isn't it IMHO.
What about a FAT tax or a tax on banks' liabilities? Let's just hope the fin min's kick this new German proposal to the curb quickly. Don't they have more serious issues they should be discussing?
-Guru
COPENHAGEN (Dow Jones)--European finance ministers didn't come close to an agreement on an E.U.-wide financial transaction tax at their meeting in Copenhagen Friday, said Swedish Finance Minister Anders Borg, who called the talks "more constructive."
The mood is moving toward a compromise solution that will discard the E.U. Commission's proposed financial transaction tax, or FTT, model that would place a duty of 0.01% on all financial transactions, Borg said, speaking to journalists after the meeting.
"We think it would be a good idea if the commission's proposal was taken off the agenda, so that we, in a constructive manner, could try now to find a compromise," Borg said, while cautioning that Sweden under no circumstances can support a tax that will put more funds in the EU Commission's budget.
"A red line to us is that it can obviously not be an EU tax. There can be an EU legislative proposal to coordinate national taxes, but there cannot be an EU tax for creating resources for the commission," Borg said.
He said a financial transaction tax model that imitates the French stamp duty looks far more appetizing that the commission's proposal.
The stamp duty model only taxes trading in stocks, and "would have only a limited effect," Borg said.
Along with the U.K., Sweden has starkly rejected the EU Commission's FTT proposal.
http://online.wsj.com/article/BT-CO-20120330-715053.html
The mood is moving toward a compromise solution that will discard the E.U. Commission's proposed financial transaction tax, or FTT, model that would place a duty of 0.01% on all financial transactions, Borg said, speaking to journalists after the meeting.
"We think it would be a good idea if the commission's proposal was taken off the agenda, so that we, in a constructive manner, could try now to find a compromise," Borg said, while cautioning that Sweden under no circumstances can support a tax that will put more funds in the EU Commission's budget.
"A red line to us is that it can obviously not be an EU tax. There can be an EU legislative proposal to coordinate national taxes, but there cannot be an EU tax for creating resources for the commission," Borg said.
He said a financial transaction tax model that imitates the French stamp duty looks far more appetizing that the commission's proposal.
The stamp duty model only taxes trading in stocks, and "would have only a limited effect," Borg said.
Along with the U.K., Sweden has starkly rejected the EU Commission's FTT proposal.
http://online.wsj.com/article/BT-CO-20120330-715053.html
Wow I'm pretty surprised that Sweden seems to be okay with a stamp duty. Borg says that the stamp duty only taxes stocks and would have only a limited effect. Maybe they're not going to model this after the UK version where only mom and pop end up paying.
They keep saying that big bad banks need to pay more but the banks won't pay anything under a stamp duty on stocks. This will hurt investment in stocks IMHO. Unless they are envisioning it differently than I am? Not to mention that Germany wants to use a stamp duty on shares as a stepping stone to a full blown ftt.
Anyway I have my doubts that a stamp duty will fly at the EU or EZ level anyway
-Guru