Forex Transaction Tax

seasideheights · May 23, 2009

The prime minister is under pressure from a coalition of UK and international campaign groups to back a 0.005% micro-tax on the $1 quadrillion ($1,000 trillion) annual trade in foreign currencies.

...

"A number of countries - including Germany, France and the US - have expressed an interest in a currency transaction tax but they are waiting for somebody to take the lead."

http://www.guardian.co.uk/money/2009/may/24/tax-on-currency-transactions

jficquette · May 23, 2009

Quote from seasideheights:

The prime minister is under pressure from a coalition of UK and international campaign groups to back a 0.005% micro-tax on the $1 quadrillion ($1,000 trillion) annual trade in foreign currencies.

...

"A number of countries - including Germany, France and the US - have expressed an interest in a currency transaction tax but they are waiting for somebody to take the lead."

http://www.guardian.co.uk/money/2009/may/24/tax-on-currency-transactions

Its so stupid. At a time when liquidity and confidence is of upmost importance they want to impede it by putting a tax on the activity that creates it.

I am ready for the Mothership to come.

kxvid · May 23, 2009

Quote from jficquette:

Its so stupid. At a time when liquidity and confidence is of upmost importance they want to impede it by putting a tax on the activity that creates it.

I am ready for the Mothership to come.

clacy · May 23, 2009

So by my math, that would add about $5 round turn to each forex trade (standard lot)?

.005% x $100,000 = $5

Do I have that right?

jficquette · May 23, 2009

Quote from clacy:

So by my math, that would add about $5 round turn to each forex trade (standard lot)?

.005% x $100,000 = $5

Do I have that right?

Yes.

clacy · May 23, 2009

Here's an idea..........

How about these government's cut spending. Regardless if you tax financial transactions, cigarettes, cell phones, Big Mac's, or fucking uping the cost of dog permits, regardless you have wealth redistribution happening.

Taking money out of private citizens' hands and giving it to those greedy, incompetent, lying, corrupt politicians to piss away.

426653478 · May 23, 2009

I'd love to see this happen, I'd love to see them put tax on every transaction possible, stock trades, forex trades, even money transfers

You deserve it.

clacy · May 23, 2009

Quote from 426653478:

I'd love to see this happen, I'd love to see them put tax on every transaction possible, stock trades, forex trades, even money transfers

You deserve it.

Please explain your sentiment and position in further detail.

piggie2000 · May 24, 2009

No need to explain. He's a disgruntled fuck that got wiped out in the mkt and wants others to suffer.

426653478 · May 24, 2009

Quote from clacy:

Please explain your sentiment and position in further detail.

what piggie2000 stated is true