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

Quote from Robert A. Green:

I agree, and have said this consistently the last few years. We need to fight any beach head for FTT and try not to let is snow ball with further support.

The biggest push for FTT is to punish bankers and that attack is misguided since it falls mostly on Main Street. Next, we need to show its a net tax loser with reduced income taxes being greater than FTT revenues, which are far less than projections. It kills jobs too.
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Concur, but we all need to know what the FTT fanatics are about. These people want and know it will destroy capitalism and free markets. They also know joe 6 pack will like the idea, so that is why they push it. Just like the majority of democratic voters have no clue to what the elitist left wants. Hook, line and sinker while the left systematically destroys freedom and sovereign rights.

This will be a life long war between ideologies of leftists/socialists/democrats vs. freedom loving/conservatives/libertarians/republicans.

That sums it up and it applys to so much more than the FTT.
 
MEP calls for more tax on financial sector: theparliament.com

http://www.theparliament.com/latest...le/mep-calls-for-more-tax-on-financial-sector

Irish MP argues for FTT, for banks to pay their fair share. She says the EC 9 FTT proposal is coming soon and it will add an "issuer" clause to extend the reach of FTT to help solve avoidance and competition concerns. If NY and Singapore traders buy and sell a German stock, she says they will pay FTT to Germany._
 
Quote from Robert A. Green:

MEP calls for more tax on financial sector: theparliament.com

http://www.theparliament.com/latest...le/mep-calls-for-more-tax-on-financial-sector

Irish MP argues for FTT, for banks to pay their fair share. She says the EC 9 FTT proposal is coming soon and it will add an "issuer" clause to extend the reach of FTT to help solve avoidance and competition concerns. If NY and Singapore traders buy and sell a German stock, she says they will pay FTT to Germany._
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Oh I do love the bit about the grotesquely overgrown financial sector destroying the economy.

I'm fat because McDonalds sells me junk food, I have lung disease because the cigarette companies sell me cigarettes and I don't exercise because the networks have too many TV channels showing stuff 24 hours a day.

Morons elected by idiots is the reason why things are going downhill.
 
Quote from Robert A. Green:

She says the EC 9 FTT proposal is coming soon and it will add an "issuer" clause to extend the reach of FTT to help solve avoidance and competition concerns. If NY and Singapore traders buy and sell a German stock, she says they will pay FTT to Germany._
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Clearly she hasn't heard of things like American Depository Receipts (ADRs) that get around the 'issuer' clause.

The french wanted to tax ADRs with their FTT.. but delayed doing so until they review things in december.

Lets see what happens in december. Will the French back down or not? If they dont it will be open to all sorts of legal challenges and retaliations.
 
Quote from justrading:


Morons elected by idiots is the reason why things are going downhill.
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It is a numbers game and there is more of them. I hope it will take them much longer to destroy US economy and financial markets.
 
Ireland to remain outside financial tax group -

Michael Noonan

Friday, 22 June 2012
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I tend to believe the above over a lone opportunist because, no offence meant at all:

In Ireland, €13m would build a new cystic fibrosis unit, €6m would build a new 30 bed hospital for the care of older people, €4m would buy a new cardiac unit in Crumlin children's hospital in Dublin.
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When you are dealing with the cash volume that government's do deal with on a consistent basis and yet to gain backing for your new taxation you bring such emotive causes into the equation, I am all for children's hospitals and medical centres yet I do not hear these, in fact I have never heard these quoted as the reason for a new taxation by a politician, the money that flows through the channels of taxation is adequate to do all the above unthinkable times over, in good times and in bad.

It appears to me we just have a case of someone pitting "the evil bankers" against one of the most admirable causes one could think of, and all in there name...makes for good publicity when it comes to voting time..tends to end there though.
 
Quote from tortoise:

You definitely have a point. Repeat the same idea over...and over...and over...and over...

Keep it to-the-point. Keep it short. Keep it focused on their wallets. Yep. No argument there.
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A sharp and snappy visual explanation and rebuttal can be useful in any campaign to inform those with short attention-span and limited subject knowledge. Such a video can be used in conjunction with the educational website, or in isolation. Any political campaign requires an effective mix of fact and fear. All election campaigns focus on the hip-pocket factor.

Denial of oxygen to a proposal that is not well understood and is driven by ideology and misinformation is equally strategically sound as responding with a bucket of cold water. Whenever necessary cold water MUST comprise brief facts and arguments that are quickly understood. In this case, well-targeted and informative tactical response should not raise the chatter which lately appears to have slowed. Proponents get inside information (as some of us also avail ourselves).

Small, otherwise insignificant G20 countries (unimportant in terms of leading financial centres) steadfastly refused to cooperate. This subject was banned from the last G20 agenda, and we doubt it will receive 2013 oxygen.

It is impossible (and time-wasting) attempting to educate and persuade minds that clearly do not want to re-think. Many countries walked away from this idea because their high-level treasury decision makers are intellectually aware of the dangers, complexities and policy incompatibilities. If you want to exert influence, you have to message, re-inform, reiterate and persuade fence-sitting or doubtful relevant decision-makers. Target and cleverly educate marginal politicans.

Whenever someone in power makes a statement, any incidentally well-informed Joe Citizen can hold them accountable by requesting written clarification of their puzzling statement, suggesting that such a grotesque and economically dangerous idea must never be perpetrated on the man in the street. Don't publish their replies.

BO must NOT remain in that job. The most effective campaign will be the one that winds up his term in office.
 
I am forking my efforts in another direction. We can work on parallel paths with synergy.

Please see the attachment. I hope to have this we site up in 2-3 weeks.
 

Attachments

I am going to post example calculations on the website so traders can really understand what it means to their business.

I will ask that if there are errors on the web site that I be notified so it can be corrected.

if this is on the thread already, it would help me

example tax calculations for each market

stocks
bonds
options
futures
forex
et cetera

for example, the way I read the tax act, both sides of one transaction are taxed.

Thus, one transaction is a buy/sell or a sell/buy and the base rate is then 2 x .03% = .06%

Say for example, a Futures contract has a base value of $100,000.

Then to enter/exit ONE contract (long/short or short/long) is going to cost

.0003 x 2 x 100,000 = $60

if the current transaction cost (broker fee, etc) is $6 for one contract, then this is a 1000% increase in the transaction cost

Please correct me if I'm wrong

Forex would have a similar problem, and Options, since they are leveraged.

For Stocks, one simply begins further in the hole, at the first entry, than before and the stock has to work harder than before, just to break even.

Well, I am going to post information on the web site and then ask others to review it and correct any errors.
 
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