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

Quote from bjw:

well, i can't speak for others, but i have no trouble proving that. it's just a bit of a problem my legislator doesn't give a damn.
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explain to him the bottom line that he will collect zero ftt from you because you will be out of business.
since goldman will be gunning for an exemption it is ok to tell your legislator that he should be going after gs if he hopes to collect anything.

better still would be a united front with gs but it won't happen.
 
Quote from lindq:

Soviet style authority comes to the EU. Stalin would be delighted.

When do they start building the wall?
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The European Commision has become the European Politburo. No surprise there. EC President, José Manuel Barroso, is a "former" Maoist communist.

Any day now they'll bring back the stasi to enforce their new laws.

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http://www.brusselsjournal.com/node/865

Vladimir Bukovksy, the 63-year old former Soviet dissident, fears that the European Union is on its way to becoming another Soviet Union. In a speech he delivered in Brussels last week Mr Bukovsky called the EU a “monster” that must be destroyed, the sooner the better, before it develops into a fullfledged totalitarian state.
 
How about this reason to move out a country? The country is in a short, medium and long-term fiscal crisis, an EU union that may bring it down, it's spending policies are unsustainable based on demographics and immigration policies, and it's attacking it's wealthier citizens with unfair tax hikes to redistribute their wealth to others.

That's not tax avoidance, it's conservative wealth preservation. How is it constitutional to trash your rights to be everyone else's punching bag? Little jest, but it's basically true and should work.

On that note, Happy Thanksgiving to everyone on the thread.
 
EU budget sours UK-Poland relations - FT.com
http://www.ft.com/intl/cms/s/0/77ebb80c-29a2-11e2-a604-00144feabdc0.html#axzz2Ctvi2xVg

Read this article and you'll probably conclude that Poland will probably vote yes in the upcoming QMV on EC-11 FTT. We were hoping for a no. I'm surprised they didn't join the EC-11._

They are now dependent on aide from Brussels and they are in Germany's pocket for EU budget and tax issues.

Not to be negative, but.... EU member countries are sliding into recession and this crisis is growing. Germany is leading the EU as the powerhouse. Germans are dictating policy and playing hardball. Either, you are with them or against them. They will back, bailout and subsidize their allies - who vote yes to their ideas - and penalize those that do not. What chance does PIIGS countries and others like Poland have?

Stronger countries and established independents like the UK and Sweden can say no, or tiny ones like Malta, but I fear the dominos are falling on FTT. They will probably win in the QMV and let's see the actual law.
 
Quote from Robert A. Green:

EU budget sours UK-Poland relations - FT.com
http://www.ft.com/intl/cms/s/0/77ebb80c-29a2-11e2-a604-00144feabdc0.html#axzz2Ctvi2xVg

Read this article and you'll probably conclude that Poland will probably vote yes in the upcoming QMV on EC-11 FTT. We were hoping for a no. I'm surprised they didn't join the EC-11._

They are now dependent on aide from Brussels and they are in Germany's pocket for EU budget and tax issues.

Not to be negative, but.... EU member countries are sliding into recession and this crisis is growing. Germany is leading the EU as the powerhouse. Germans are dictating policy and playing hardball. Either, you are with them or against them. They will back, bailout and subsidize their allies - who vote yes to their ideas - and penalize those that do not. What chance does PIIGS countries and others like Poland have?

Stronger countries and established independents like the UK and Sweden can say no, or tiny ones like Malta, but I fear the dominos are falling on FTT. They will probably win in the QMV and let's see the actual law.
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I agree with you Robert that I don't see Poland voting against the ez ftt after reading the ft piece. Hopefully somehow we're wrong in that regard and they will vote no but I guess we'll see. Hopefully someone will find a way to stop the extra territorial reach that seems to be part of the ez ftt proposals.

I still think this is going to end up in court(s). It's fine for a country to tax it's citizens but how is it okay for a country to use this extra territorial reach to lighten the coffers of citizens in other countries? This just doesn't pass the smell test here...

-Guru
 
Quote from Pasternak:

Handelsblatt says there must be other reasons for moving than just to circumvent the FTT. If not, they'll overrule it (the EU). That's what it says.
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They cant "overrule" a citizen from moving anywhere. Free movement of goods capital and labour. I have no idea in what ways they can make life difficult for company's, those company's headquarters can jump ship to any location on earth however.
 
It's not exactly the same but the Reed amendment punishes those determined by the AG to have renounced US citizenship to avoid taxes.

"Any alien who is a former citizen of the United States who officially renounces United States citizenship and who is determined by the Attorney General to have renounced United States citizenship for the purpose of avoiding taxation by the United States is inadmissible."

However MAP 21 which was signed into law in July allows the IRS to take your passport if they believe you owe taxes... basically it restricts your freedom of movement and you are guilty until proven innocent.

Full text: http://www.govtrack.us/congress/bills/112/s1813/text
 
(Google translation)

"Before 2016, I would not set a financial transaction tax in the budget", Michael Sell, the tax department said the Federal Ministry of Finance, at a meeting of Wirtschaftsprüfgesellschaft Ernst & Young in London. The reports the Business Week.
According Sell indeed support eleven countries the Franco-German initiative, and the Netherlands and Lithuania were about to also join. The top officials of the Federal Finance Minister
Wolfgang Schäuble (CDU), are expecting so that negotiations for the introduction of a financial transaction tax last year and a half. Again the same time will require the implementation, since the tax could be collected only fully electronic. Sell ​​it keeps loud Wirtschaftswoche possible that the tax is levied in accordance with the practice at the stock exchange in London, only to stocks and bonds, but not on derivatives.

http://www.wiwo.de/politik/europa/finanzsektor-transaktionssteuer-kommt-nicht-vor-2016/7432022.html
 
Quote from Explorer:

(Google translation)

"Before 2016, I would not set a financial transaction tax in the budget", Michael Sell, the tax department said the Federal Ministry of Finance, at a meeting of Wirtschaftsprüfgesellschaft Ernst & Young in London. The reports the Business Week.
According Sell indeed support eleven countries the Franco-German initiative, and the Netherlands and Lithuania were about to also join. The top officials of the Federal Finance Minister
Wolfgang Schäuble (CDU), are expecting so that negotiations for the introduction of a financial transaction tax last year and a half. Again the same time will require the implementation, since the tax could be collected only fully electronic. Sell ​​it keeps loud Wirtschaftswoche possible that the tax is levied in accordance with the practice at the stock exchange in London, only to stocks and bonds, but not on derivatives.

http://www.wiwo.de/politik/europa/finanzsektor-transaktionssteuer-kommt-nicht-vor-2016/7432022.html
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So now this won't see the light of day until at least 2016? Thats good news. Hopefully that time table just keeps getting pushed back:)
 
Quote from listedguru:

So now this won't see the light of day until at least 2016? Thats good news. Hopefully that time table just keeps getting pushed back:)
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it's a nice article, but this is just an opinion of someone about what should happen, not fact.
 
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