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

[Robert A. Green]

Quote from lindq:

Finland’s Minister for Economic Affairs Jyri Häkämies says the country should only sign up to an EU financial transaction tax if Sweden does the same. A unilateral move by Finland, he believes, would give Sweden an unacceptable competitive edge.

Häkämies, whose ministerial portfolio includes the banking sector, says preparations for the transaction tax are proceeding in accordance with the government’s programme. But in his view, Sweden’s participation, which he believed unlikely, was a pre-requisite for Finland accepting the tax.

“Sweden’s banking sector would gain a significant benefit if the tax was introduced by Finland but not by Sweden. It would take jobs away from Finland and limit economic growth,” noted Häkämies.


http://yle.fi/uutiset/hakamies_cautious_over_financial_transaction_tax/6317524

Like the broad criticism points in this article.
http://www.hs.fi/english/article/Pr...ansactions+tax+sparks+criticism/1329104867569

Even the True Finn's leader says FTT will decimate banking. If the ruling National Coalition Party pre-conditions Finland accepting FTT on the Swedes accepting FTT too, we all know FTT is doomed in Finland. Let's hope it plays out this week in parliament along those lines.

 

[muller]

Berlin wants to come up with laws to curb or totally ban high frequency trading.

http://www.advancedtrading.com/algo...at_daily&elq=14bc4afb708c4082ad852f088eb7d5c5

The germans main intend for the ftt was to destroy HFT and daytrading because these activities were so unfair and so anti-social.
Now their pushing ahead with market regulations against HFT seems to me they cannot come up with a financial transaction tax after all.

 

[sheda]

Finland ~ Minister for Finance:

Graduated as a Master of Education in 2002. She worked as a school teacher until her election to parliament.

WHY???????????????????????????????????????????????????

 

[Humpy]

The FTT is just the sort of left wing nonsense that the eurozone would like. The eurozone leadership should be imprisoned for gross negligence and incompetence before they do any more damage.

The only reson the eurozone is still alive is that it is too big to fail. Not really a good enough reason.

 

[Xspurt]

http://video.foxnews.com/v/1866842435001/report-united-nations-considering-global-tax/

this includes FTT

 

[sheda]

Quote from Xspurt:

http://video.foxnews.com/v/1866842435001/report-united-nations-considering-global-tax/

this includes FTT

UN talks of global taxes every year for a long time, year after year they bring it up. The UN want it for there interests, the EU want it for there's, the individual country's of the EU want the capital to stay with them, and every one from what ever save the world group they happen to be a member of wants it for 100 million different things.

There is no way on earth the UN can get a global treaty on taxes.

 

[Humpy]

Quote from sheda:

UN talks of global taxes every year for a long time, year after year they bring it up. The UN want it for there interests, the EU want it for there's, the individual country's of the EU want the capital to stay with them, and every one from what ever save the world group they happen to be a member of wants it for 100 million different things.

There is no way on earth the UN can get a global treaty on taxes.

I would be all in favour of a UN tax if :-
1. It was say 10% of defence budgets - nobody needs that massive waste of money for even more bombs etc.
2. Most of the money was used to clean up the planet etc. - not just flowing into fatcat's pockets.

 

[sheda]

Quote from Humpy:

I would be all in favour of a UN tax if :-
1. It was say 10% of defence budgets - nobody needs that massive waste of money for even more bombs etc.
2. Most of the money was used to clean up the planet etc. - not just flowing into fatcat's pockets.

I would never be in favour of empowering an organization of that nature with the slightest of taxation or legal powers regardless of there stated aims.

And a basic fact is one cant clean another's backyard for them and expect that yard to remain clean.

 

[Stok]

Quote from Humpy:

I would be all in favour of a UN tax if :-
1. It was say 10% of defence budgets - nobody needs that massive waste of money for even more bombs etc.
2. Most of the money was used to clean up the planet etc. - not just flowing into fatcat's pockets.

Really ?

Then either you are not a real world trader or another liberal shill. I think both, so go back to change.org and waste your time there.

 

[TraDaToR]

The day global tax are created, I put myself in Ayn Rand Strike mode, buying a sailing boat and traveling for the rest of my life. It will mean you have no way on earth to preserve the fruits of your labor against those bureaucrats who never had a real job in their life, thus no real point in working.