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

[JamesL]

UN has FTT on their agenda at the current Rio climate summit calling for a .2 to .7% tax to go directly to UN coffers.

www.nationalreview.com/planet-gore/303790/rio20-showdown-richard-branson-david-rothbard

"Such an idea is not unheard of. In fact, one of the items on the negotiating table here at Rio+20
is a tax — ranging from 0.2 to 0.7 percent — on international financial transactions, which
would generate billions of dollars per year, and would be sent directly to the United Nations. "

 

[Pasternak]

Quote from JamesL:

UN has FTT on their agenda at the current Rio climate summit calling for a .2 to .7% tax to go directly to UN coffers.

www.nationalreview.com/planet-gore/303790/rio20-showdown-richard-branson-david-rothbard

"Such an idea is not unheard of. In fact, one of the items on the negotiating table here at Rio+20
is a tax — ranging from 0.2 to 0.7 percent — on international financial transactions, which
would generate billions of dollars per year, and would be sent directly to the United Nations. "

No way this is gonna happen.

 

[syswizard]

Governments need to shrink to reduce their spending.
Looking for additional Taxing sources is NOT THE SOLUTION....it just prolongs the existing problem.

 

[vicirek]

Tax is coming because there is more interest in it from major political and economic players. Recent letter to UK government from 50 financiers including Wall Street firms calls for the tax to stem short term speculation and enhance market stability.

The underlying lie is that this money will go to poor and infrastructure or environment but the goal is to stem free markets from being able to check manipulation in bond and stock markets by large institutions and governments.

 

[zdreg]

Quote from vicirek:

Tax is coming because there is more interest in it from major political and economic players. Recent letter to UK government from 50 financiers including Wall Street firms calls for the tax to stem short term speculation and enhance market stability.

The underlying lie is that this money will go to poor and infrastructure or environment but the goal is to stem free markets from being able to check manipulation in bond and stock markets by large institutions and governments.

it is to be expected.
zdreg


Registered: Oct 2003
Posts: 7275


05-20-11 03:25 PM

Quote from Robert A. Green:

PS, I wrote a scathing blog against Goldman and flip flopped on earlier blogs in support of Wall Street. My first thought was for all traders to stick together, to fend off populist attacks on traders (big and small), including a threat of FTT.

Now, I agree with others who decoupled small-business traders from Goldman to begin with. Taxpayers, Main Street and others should get their money back directly from Goldman, not from independent traders.

Check it out at http://blogs.forbes.com/greatspecul...-goldman-sachs/




your comments are late.
zdreg

as for posters like listed guru and his ilk who have pilloried me from time to time you will will wake up after the tax has passed.


let's not forget the idiots on this thread who say they WILL train cfds. these are people who can't trade themselves out of a shoe box.
we may get lucky if the US has an new president. don't count on it.

Registered: Oct 2003
Posts: 5922



01-10-11 06:04 PM
whatever golden slax wants that is the way it will turn out. don't believe for 1 sec. that your interests and that of GS are the same. if FTT is passed GS will get mostly exempted and the public will end up paying the tax just as in the UK. of course the big hedge funds will find away around it just like in the UK.

zdreg

Registered: Oct 2003
Posts: 5923



01-12-11 05:47 PM
"And higher taxes, as the government tries to save its own skin by producing revenue any way it can"

http://finance.yahoo.com/tech-ticke...5.html?tickers=^tnx,tlt,tbt,^dji,^gspc

http://snipurl.com/1try2f

be vigil as golden slax sells traders down the drain.

 

[vicirek]

Where there is tax there are exemptions and loopholes - to give advantage to some and extort others.

I have read somewhere that EU government bonds will be exempt(unconfirmed). So we will channel our money into government bond and become bond traders or as proxy we may use currency markets. They are the hardest to regulate.

High taxation and overregulation creates black market - always.

Now we have to wait for the game to play when "the people" will ask the congress to enact the tax to delegate more power to bureaucrats. It may take a few years.

 

[andohmeeta]

Quote from Stok:

And, odumbo just announced he will stop deportation of young (under 30) ILLEGAL aliens and give them work permits. Hope everyone is paying attention to how far the dem's will go to buy votes....it is f*cking sickening!

In the campaign against BO, isn't this video clip evidence for circulation, showing his politically motivated dissembling? http://www.youtube.com/watch?v=TfZ3kaKZoIw

The undermentioned reads like a prudent run-down of the present state of play. (Couldn't access the link to "EU officials are working on a form of tax..."):-

http://www.ft.com/intl/cms/s/0/57ca5d2c-bc73-11e1-a836-00144feabdc0.html#axzz1yfTvYBAJ

 

[tomdavis]

Quote from andohmeeta:

In the campaign against BO, isn't this video clip evidence for circulation, showing his politically motivated dissembling? http://www.youtube.com/watch?v=TfZ3kaKZoIw

The undermentioned reads like a prudent run-down of the present state of play. (Couldn't access the link to "EU officials are working on a form of tax..."):-

http://www.ft.com/intl/cms/s/0/57ca5d2c-bc73-11e1-a836-00144feabdc0.html#axzz1yfTvYBAJ

Highlights from the article:

http://www.ft.com/intl/cms/s/0/57ca5d2c-bc73-11e1-a836-00144feabdc0.html#axzz1yfYPtsFM

Push for EU-wide ‘Robin Hood tax’ ends

European finance ministers sounded the death knell on Friday on a proposed EU-wide financial transaction tax, paving the way for a coalition of willing countries to press ahead with a more limited levy...

While there are likely to be sufficient supporters of a transaction tax in principle, led by France, Germany and Austria, big differences remain over its design and what the revenues would be used for...

EU officials are working on a form of tax that could cover derivative transactions executed in London, even if Britain remains outside the tax area. But lawyers are sceptical that such a design is possible or legal.

 

[zdreg]

Quote from vicirek:

Where there is tax there are exemptions and loopholes - to give advantage to some and extort others.

I have read somewhere that EU government bonds will be exempt(unconfirmed). So we will channel our money into government bond and become bond traders or as proxy we may use currency markets. They are the hardest to regulate.

High taxation and overregulation creates black market - always.

Now we have to wait for the game to play when "the people" will ask the congress to enact the tax to delegate more power to bureaucrats. It may take a few years.

"
I have read somewhere that EU government bonds will be exempt(unconfirmed). So we will channel our money into government bond and become bond traders"

above is another idiotic remark similar to the one we will all be trading cfds. are you familiar what constitutes minimum size in gov't bond compared to the miserable few thousand u use in the stock market? obviously not.

 

[traderchi128]

Quote from vicirek:

Tax is coming because there is more interest in it from major political and economic players. Recent letter to UK government from 50 financiers including Wall Street firms calls for the tax to stem short term speculation and enhance market stability.

The underlying lie is that this money will go to poor and infrastructure or environment but the goal is to stem free markets from being able to check manipulation in bond and stock markets by large institutions and governments.

The last thing this tax would do would enhance mkt stability. Volumes would plummet and liquidity would disappear. Spreads would widen out to ridiculous levels causing huge volatility at times. Good luck to the Mutual Fund manager who has to sell hundreds of thousands of shares. Their trades alone would cause stocks that normally aren't that volatile to plummet. Every time these guys went to sell individual stock circuit breakers would be hit.

The people/groups who are so in favor of this tax would take a financial beating as their IRA's and 401k's would get obliterated as the markets plummets.

Last but not least....the tax revenue expected to be generated by this tax would probably be around 10-20% of what they thought. The geniuses that came up with this tax based revenues on what volumes are today. If this tax gets passed volumes will fall by 80% or so.

This tax has no chance of ever being implemented.