1/4% Tax on all stock trades pushed in NY Times today
- Thread starter seasideheights
- Start date
Markets Insight: High price of ignoring EUâs tax on trades
http://www.ft.com/cms/s/0/785bbe62-a680-11e2-885b-00144feabdc0.html#axzz2QiAWif4l
If you hit a paywall, google for the title, and clear cookies before opening (or open in an incognito window or equivalent).
http://www.ft.com/cms/s/0/785bbe62-a680-11e2-885b-00144feabdc0.html#axzz2QiAWif4l
If you hit a paywall, google for the title, and clear cookies before opening (or open in an incognito window or equivalent).
These idiots simply do not understand that FTT will only work if applied globally to all kinds of markets. Otherwise, transactions will shift to non FTT regions.
Why can't they get it through their heads that FTT will not work. All their projected revenues will fall way short since the volumes will plummet. Sweden is a good example.
Why can't they get it through their heads that FTT will not work. All their projected revenues will fall way short since the volumes will plummet. Sweden is a good example.
âMuch of the social history of the Western world over the past three decades has involved replacing what worked with what sounded good.â
― Thomas Sowell
They are a little more clever than that. They are trying to infect any transaction where a EU 11 institution is party or issued in a EU 11 country. What they don't understand is that EU11 issued Securities are not that important in the finance world and that if they really apply it to EU 11 institutions these desks, banks, HFs will simply disappear... In fact it's a good plan to shrink the Financial sector but not to generate revenues.
House Democrats Reintroduce Financial Transaction Tax
House Democrats on April 17 said they have reintroduced a measure that would tax financial transactions, and called on Congress to use the revenue the bill would generate to pay for a variety of healthcare and climate change programs.
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I'm on vacation. My partner just emailed this from Tax Analysts.
IMO House Democrats = progressive party and they are laying their marker for tax reform, I presume. No chance for passage in a GOP controlled House.
House Democrats on April 17 said they have reintroduced a measure that would tax financial transactions, and called on Congress to use the revenue the bill would generate to pay for a variety of healthcare and climate change programs.
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I'm on vacation. My partner just emailed this from Tax Analysts.
IMO House Democrats = progressive party and they are laying their marker for tax reform, I presume. No chance for passage in a GOP controlled House.
Actually, the game plan is to have it global and this is the first step regardless of failure. The EU socialists are counting on the US democrats and obamabots to adopt as well. This is a well coordinated plan, and even the UN wants FTT...which makes it all very very scary ;-)
edit: Remember, all democrats need money to keep buying votes and power, so they will stop at nothing to terrorize the American people with taxes to fund their overall scheme. Been going on since FDR.
Full article: House Democrats Reintroduce Financial Transaction Tax
by Meg Shreve
House Democrats on April 17 said they have reintroduced a measure that would tax financial transactions, and called on Congress to use the revenue the bill would generate to pay for a variety of healthcare and climate change programs.
The Inclusive Prosperity Act (H.R. 1579) could generate about $350 billion a year, according to a release. A similar bill was introduced during the 112th Congress. Two of the bill's cosponsors, Rep. Keith Ellison, D-Minn., and Rep. Barbara Lee, D-Calif., appeared at a press conference with organizations supporting the legislation, including National Nurses United, Friends of the Earth, and Voices of Community Activists and Leaders. The bill's supporters are planning an April 20 rally in Washington and April 22 visits to lawmakers on Capitol Hill.
H.R. 1579 would impose excise taxes on securities transactions, at rates of 0.5 percent for stock trades, 0.1 percent for bonds, and 0.005 percent for derivatives. The bill would exempt individual investors making less than $50,000 a year ($75,000 a year for joint filers), according to a fact sheet.
Earlier this year Rep. Peter A. DeFazio, D-Ore., and a group of Democratic senators introduced legislation that would tax trades other than the initial issuance of stocks, bonds, and debt securities at 0.03 percent.
0.5% for stock trades (lol) and it'll raise $350 billion per year. Shoot defazio is only asking for .03%.... Wow these folks are really incompetent
-Guru