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

Quote from sheda:
I can not believe who wrote this article, they havent even read the commisions proposol. [/B]
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"The writer is a former senior executive at JPMorgan and UBS,and is an executive fellow at London Business School "( who has never placed a single trade in his life ). It's like FT voluntarily publishes child-like "pro" articles.
 
Quote from Explorer:

Exclusive - Europe plans major scaling back of financial trading tax

http://www.4-traders.com/news/Exclu...ling-back-of-financial-trading-tax--16916650/
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it is all about the camel's nose under the tent. " "This step by step approach can make sense." if it passes it is just the beginning. e.g. income taxes vats etc. India and UK have a stamp tax. they can't get rid of it. no prop industry exists for equities in these countries.
watch for a divide and conquer strategy. there will be exemptions for the industry e.g. market makers and the public be damned.

there is no room for compromise. it is all or nothing. don't forget goldman is not your friend.
 
“You can introduce it on a staggered basis,” said the official. “We start with the lowest rate of tax (0.01 per cent) and increase it bit by bit.”
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Would be a hell of a lot harder to deal with at that point, they have just bassically said same thing, slow cooker implementation.
 
"At a meeting last week, the commission told member states it lacked reliable data on who would bear the cost of the tax, and suggested circulating a questionnaire to all 27 member states seeking more information on their internal trading activities"

LOL...What a smart move... Getting information on what you try to tax after releasing the proposal... It would be funny if it wasn't so serious for our future.
 
Quote from Explorer:

http://online.wsj.com/article/SB10001424127887324412604578515200971166358.html
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"Crucially, enthusiasm from Germany, the EU's largest economy and a key supporter of the tax, appears to be waning. Berlin is concerned about taxing derivative trades, and thinks the plan to tax all trades where one party is located in the EU may be difficult to implement, a senior EU official said."

I would not be at all surprised to see this entire ftt proposal scrapped. There is way too much squabbling going on among the 11 countries that signed up for this disgrace. I think once the German elections occur in September this proposal goes bye bye....

-Guru
 
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