This is an interesting nugget:
"Transactions may be netted before they are taxed, meaning a firm that ends the day flat would pay no duty. But no one broker has visibility on a client's entire trading activity."
-Guru
1/4% Tax on all stock trades pushed in NY Times today
- Thread starter seasideheights
- Start date
This is an interesting nugget:
"Transactions may be netted before they are taxed, meaning a firm that ends the day flat would pay no duty. But no one broker has visibility on a client's entire trading activity."
-Guru
Hollande Transaction Tax Drives Investorsâ Quest for Loopholes
"The people who are making the laws donât understand the business.â
http://www.businessweek.com/news/20...tion-tax-drives-investors-quest-for-loopholes
"The people who are making the laws donât understand the business.â
http://www.businessweek.com/news/20...tion-tax-drives-investors-quest-for-loopholes
unlike professors in the us, who make a lot of money, monsieur hollande stayed poor as a theoretical university teacher. he believes that socialism is the only way to go, redistribution of wealth is his mantra.
it does not matter to monsieur hollande that all experiments to introduce socialism have failed in history.
now he is president and he will have many opportunities to become rich. mitterand, sarkozy and others have shown how redistribution works: in socialism the only people who become rich are politicians.
today all media in france and in germany are reporting about rich french leaving the country. they go to switzerland, singapore, canada, dubai, hongkong or any of the 100+ capitalist places worldwide..
money is moved even more quickly than people
it does not matter to monsieur hollande that all experiments to introduce socialism have failed in history.
now he is president and he will have many opportunities to become rich. mitterand, sarkozy and others have shown how redistribution works: in socialism the only people who become rich are politicians.
today all media in france and in germany are reporting about rich french leaving the country. they go to switzerland, singapore, canada, dubai, hongkong or any of the 100+ capitalist places worldwide..
money is moved even more quickly than people
http://www.bloomberg.com/news/2012-...tax-drives-investors-quest-for-loopholes.html
"The receipts will be used to fund research for AIDS, Hollande said yesterday. "
You heard it right...AIDS. Europe and France are on the verge of a disaster but he prefers to fund AIDS research. Not that the proceeds from this tax will make any kind of difference but still...LOL
"The receipts will be used to fund research for AIDS, Hollande said yesterday. "
You heard it right...AIDS. Europe and France are on the verge of a disaster but he prefers to fund AIDS research. Not that the proceeds from this tax will make any kind of difference but still...LOL
never underestimate the ability of politicians to pass legislation that appeals to the clueless masses even if it ends up hurting themselves.
obama and hollande are kin.
the 2012 presidential election will prove whether americans are as stupid as argentinians who elected juan peron or venezualans who elected chavez.
More details of the French FTT:
http://www.pwc.be/en/financial-services-newsalert/2012/french-financial-transaction-tax.jhtml
http://www.pwc.be/en/financial-services-newsalert/2012/french-financial-transaction-tax.jhtml
Quote from Stok:
Just amazing what the market makers (the big bad evil banks) are gonna make out on this deal. They will be printing money! Those socialists sure are smart.
they are capitalists, while pretending to be socialists, while benefiting from capitalism under the protection of the central government e.g. crony capitalism.
"Hungaryâs central bank has also criticized the transaction levy, saying it infringes the bankâs institutional and monetary independence."
âIt makes no sense, itâs dangerous and illegal,â central bank Governor Andras Simor said July 2.
http://www.google.com/url?sa=t&rct=...sg=AFQjCNGZIIEM61LI1nAgJOhN4YT6e9G2yw&cad=rja
âIt makes no sense, itâs dangerous and illegal,â central bank Governor Andras Simor said July 2.
http://www.google.com/url?sa=t&rct=...sg=AFQjCNGZIIEM61LI1nAgJOhN4YT6e9G2yw&cad=rja
learn what the future is.
http://www.elitetrader.com/vb/showthread.php?s=&threadid=246550&perpage=10&pagenumber=1
"Just a heads up to you guys, that I received a call from the higher ups at Goldman this morning to tell us about the French "transaction tax" takes effect on trade date August 1st. This is a 20 BPS tax that will be withheld on the buy amount.
For example, we have a trader who is up $5,000 trading TOT this year, but his transaction tax would have been $12,000. Eliminates this edge. Bummer. "
this quote is for the mathematically disadvantaged on this thread who think they can live with a rate of .001 or .002 of the transaction amount.
http://www.elitetrader.com/vb/showthread.php?s=&threadid=246550&perpage=10&pagenumber=1
"Just a heads up to you guys, that I received a call from the higher ups at Goldman this morning to tell us about the French "transaction tax" takes effect on trade date August 1st. This is a 20 BPS tax that will be withheld on the buy amount.
For example, we have a trader who is up $5,000 trading TOT this year, but his transaction tax would have been $12,000. Eliminates this edge. Bummer. "
this quote is for the mathematically disadvantaged on this thread who think they can live with a rate of .001 or .002 of the transaction amount.