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

This is simply not going to happen while the Republicans control the House, but traders on this board better get off their *ss and make sure that they take the Senate in 2014 and the White House in 2016. If they Dems ever gain control of all 3 like they had in 2008, they will look to pass a transaction without a doubt.
 
Quote from listedguru:

Keeping an eye on this bill. Hopefully it gets voted on fairly quickly and of course passes both chambers of Congress. This would go a log way towards the US saying no way to the ftt to the rest of the world.

-Guru
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definitely. so what do our US posters think? does this have any chance of passing?
 
Quote from bjw:

definitely. so what do our US posters think? does this have any chance of passing?
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I think it would most likely pass if it were brought up for a vote. The problem is congress has a lot on it's plate with the fiscal cliff, etc and the 112th congress is set to expire at the end of the year (and so will this bill I believe). So if it's not voted on before the end of the year I think Mr. Price would have to reintroduce it after the first of the year when the new session of congress starts. Either way hopefully it does get brought up for a vote.

-Guru
 
Quote from Explorer:

EU Moves Ahead With Transaction Tax in Rejecting U.K. Changes

http://www.bloomberg.com/news/2012-...transaction-tax-in-rejecting-u-k-changes.html

This is an interesting development. There were 10 objecting countries which is encouraging for the upcoming QMV.

Looking at the voting allocations (http://www.eurofound.europa.eu/area...onary/definitions/qualifiedmajorityvoting.htm) and making educated guesses as to who those 10 countries were, it looks reasonably hopeful that we could reach the 88 votes required to block.

By my reckoning there are 8 countries who would have cause to object plus 2 other countries (Romania and Bulgaria?) making the number up to 10:

UK(29) , Poland(27), Romania(14), Czech Rep.(12), Sweden(10), Bulgaria(10), Denmark(7), Ireland(7), Luxembourg(4), and Malta(3).

If all these voted no in QMV we would have 123 votes (if these are the right countries). Even without Poland we'd have 96.

Howevever if Romania and Bulgaria are replaced by, for example, Lithuania(7) and Latvia(4) then we'd narrowly lose without Poland.

The fact that the commission refused to make an entirely reasonable amendment makes it more likely that countries will vote no in QMV in my opinion.
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(Google translation)

Romania supports efforts to create an EU bank unions and the strengthening governance in the euro area, but believes that it should not be detrimental to countries outside the euro area, and will agree to a tax on financial transactions.

Tax on financial transactions will be introduced to the extent that there is an agreement to this effect in the European Union, said government spokesman Andrei Zaharescu.[...]

http://www.zf.ro/politica/document-...a-unei-taxe-pe-tranzactii-financiare-10367516
 
Quote from zdreg:

http://www.slate.com/blogs/spitzer/...ve_debt_crisis_and_stop_reckless_trading.html

spritzer, the esteemed former governor, thinks he has the cure for the economy's ills.

be vigilant.
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Spitzer has a love hate relationship with Wall Street and financial services. He leveraged his NYS Attorney General attacks on WSJ to win as NYS governor. He clearly went too far and can't ever make up with financial power brokers. His only home is with the progressive left and now he's perverting his natural intelligence to serve up beef to progressives.

How dare a silver-spoon son of a NYC real estate magnate trash his city's best industry in this manner. He's shown before that he has no shame.
 
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