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

Quote from TraDaToR:

http://www.ft.com/intl/cms/s/0/817af53a-9b7c-11e2-8485-00144feabdc0.html#axzz2QVOnu48z
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"From a US perspective, this unilateral extension of extraterritorial power by the commission goes beyond anything attempted since the US and Great Britain concluded the Treaty of Paris ending the Revolutionary War in 1783. Most institutions that try to do something like that have their own navy, and usually a larger one than the sovereign territory where they are attempting to impose the tax."

- I'll have to remember this quote, it's a good one.
 
Quote from benwm:

"From a US perspective, this unilateral extension of extraterritorial power by the commission goes beyond anything attempted since the US and Great Britain concluded the Treaty of Paris ending the Revolutionary War in 1783. Most institutions that try to do something like that have their own navy, and usually a larger one than the sovereign territory where they are attempting to impose the tax."

- I'll have to remember this quote, it's a good one.
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The issue of extraterritoriality is pivotal, and it poses a difficult dilemma for the architects of the FTT-11.

Include extraterritoriality and face an onslaught of legal challenges throughout the world which they may not win (and the FTT collapses). Or leave out extraterritoriality and the FTT-11 may not even hold together (and the FTT collapses).
 
French and EU financial transaction taxation: “Grasp all, lose all”?

In a context where there are debates on the new EU draft directive which was released on February 14, 2013 based on the enhanced cooperation procedure, it might be worth to consider to what extent the French model can be viewed as an alternative to the model proposed by the Commission.[...]

http://www.bna.com/french-eu-financial-n17179873365/
 
Quote from Explorer:

French and EU financial transaction taxation: “Grasp all, lose all”?

In a context where there are debates on the new EU draft directive which was released on February 14, 2013 based on the enhanced cooperation procedure, it might be worth to consider to what extent the French model can be viewed as an alternative to the model proposed by the Commission.[...]

http://www.bna.com/french-eu-financial-n17179873365/
More...

And so the "tax on bankers" ends up exempting banks and hitting the little guy... Wonder how the general public feels when they find out their pensions are being taxed and the likes of Goldman Sachs, etc get exemptions? The watered down version is more akin to pissing on the little guy. So how can the EUSSR even claim it is a moral tax? It's a power grab folks, plain and simple!
 
Few people really read the law and understand how it works, what is important is the newspapers and TV. For example, Sarkozy claimed loud that France would be the first country to introduce the FTT... Most french people only knows that, they don't know that he in fact killed a century old tax on all equities before the crisis just to recreate a smaller one( trying to get reelected ).

It wouldn't be our future in their hands, it would be so funny...

PS: Look how we will soon see a big difference made in articles between "socially useful" MMs and casino gamblers like Hedge funds and HFTs...LOL
 
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