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

hafez50 · Sep 10, 2013

It looks like this forum has been here 4 yrs almost. The talk of a transaction tax has pretty much died in the us lately and if this hasn;t based during an almost 5 yr bull mkt the chances are its pretty dead as it will 100% die during the inevitable bear mkt coming
in the yrs ahead

TraDaToR · Sep 11, 2013

Quote from hafez50:

It looks like this forum has been here 4 yrs almost. The talk of a transaction tax has pretty much died in the us lately and if this hasn;t based during an almost 5 yr bull mkt the chances are its pretty dead as it will 100% die during the inevitable bear mkt coming
in the yrs ahead

Not sure...During bear markets, mom and pop, pensions and those who actually vote these laws lose money, so " the market is broken", " Wall Street is running the markets amok with HFTs" and " Traders are killing mom and pop retirements with their short positions". Give them a bull market and they progressively forget. Most people simply think a ( stock )bull market is "good", a proof that the markets are working.

Explorer · Sep 11, 2013

http://www.dw.de/eu-official-rules-out-financial-transaction-tax-for-2014/a-17082355

TraDaToR · Sep 11, 2013

Quote from Explorer:

http://blogs.ft.com/brusselsblog/2013/09/eu-legal-opinion-against-the-ftt-full-text/

Apparently the lawyers of the EU are as pissed of the FTT crew on the legal level as we are on the economic justifications. Check III 16 and 20 for example. The whole document means " There were international laws and treaties before you decided to pursue FTT, they didn't disappear with the advent of your revolutionary idea, you stupid..."

SplitFire · Sep 11, 2013

Quote from Explorer:

http://www.dw.de/eu-official-rules-out-financial-transaction-tax-for-2014/a-17082355

In the video said currencies also going to be tax is this for sure?
So forex is done on EU that's nuts.

TraDaToR · Sep 13, 2013

Interesting opinion:

http://www.ft.com/intl/cms/s/0/d7196aa0-1afa-11e3-b781-00144feab7de.html#axzz2em2DoUYM

TraDaToR · Sep 13, 2013

http://www.bloomberg.com/news/2013-...ce-transaction-fees-under-obama-proposal.html

Obama administration wants an equivalent of SEC fee for CFTC.

sheda · Sep 16, 2013

The European Commission rebuffed on Saturday an EU legal opinion that questioned the legality of a planned financial transaction tax and said work on the levy in 11 European Union countries would go on.

European Union finance ministers discussed the financial transaction tax briefly on Saturday, with the Commission saying there was a misunderstanding on the opinion.

We are confident that the Commission's arguments and arguments of the legal service of the Commission will demonstrate very clearly to our member states that the approach which has been taken in the proposal is the correct one and does not breach any provisions of the Treaty," European Commissioner Algirdas Semeta,

http://uk.reuters.com/article/2013/09/14/uk-europe-tax-idUKBRE98D05520130914

TraDaToR · Sep 16, 2013

http://www.worldfinance.com/wealth-management/ftt-fears

listedguru · Sep 16, 2013

Quote from sheda:

http://uk.reuters.com/article/2013/09/14/uk-europe-tax-idUKBRE98D05520130914

So let me get this straight: The block of lawyers that represent the entire EU say that the EC's FTT proposal is illegal yet Semeta says it's simply a misunderstanding and work on the illegal proposal will continue. Are these folks mental? I think it's time for Semeta and the rest of the followers to admit defeat once and for all. You gotta believe many of the 11 countries that supported this proposal are getting cold feet.

-Guru