I found the draft here:
http://i.cdn.turner.com/money/2008/images/09/28/ayo08c04_xml.pdf
I don't see any provisions for "taxing the trades", but then again, it's a 110 pages document, so I may have missed it.
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Tax on Trades Should Be Part of Rescue Plan, Some Democrats Say
- Thread starter seasideheights
- Start date
I found the draft here:
http://i.cdn.turner.com/money/2008/images/09/28/ayo08c04_xml.pdf
I don't see any provisions for "taxing the trades", but then again, it's a 110 pages document, so I may have missed it.
Alternative link:
http://www.foxnews.com/projects/pdf/rescuebill_First_Draft.pdf
http://www.foxnews.com/projects/pdf/rescuebill_First_Draft.pdf
Quote from nonlinear5:
I found the draft here:
http://i.cdn.turner.com/money/2008/images/09/28/ayo08c04_xml.pdf
I don't see any provisions for "taxing the trades", but then again, it's a 110 pages document, so I may have missed it.
well im sure a couple of days is plenty of time to research, negotiate, write and review a 110-page document with at least $700B in expenditures... either some one waited way too, or someone wants a sloppy deal quick. i mean, there are what, just shy of 600 in Congress?
yeah, couple of days is more than enuf :eek:
Quote from swtrader:
it is a program to import massive forein workers into the tech occupations
mr 'two americas' john edwards, co sponsored a bill in oct 2000, to bring 195,000 foreign workers into the tech occupation right as the tech bubble burst
in 2001 9 out of 10 workers hired in tech in the USA were foreign in a period when the industry actually shed jobs
it was a complete nightmare, a 'kafka' like transformation where society turned on a group of people (tech workers), without provacation. it;s as though society decided arbitrarely, that a group of people deserved to lose everything they had worked for, without cause
for example. wes clark in the 2004 debates"
"Let them do the software in India; we'll do other things in this country. "
so if you worked in software, we;re tossing you out of your livelyhood
we cant tell you why, and we cant clarify what 'other things' means
Sorry but this is not remotely like the transaction tax, you should stop mentioning it on this thread.
*Allowing* more people to freely compete in a market is entirely different to *forcing* people to pay punitive levels of taxation. The tech worker bill increased competition and freedom, allowing firms to hire who they wanted, instead of being forcibly confined to hiring Americans. No one has a right not to be competed against - that includes US tech workers.
An imposed tax is entirely different from free competition.
Quote from nonlinear5:
I found the draft here:
http://i.cdn.turner.com/money/2008/images/09/28/ayo08c04_xml.pdf
I don't see any provisions for "taxing the trades", but then again, it's a 110 pages document, so I may have missed it.
SEC. 134. RECOUPMENT.
Upon the expiration of the 5-year period beginning upon the date of the enactment of this Act, the Director of the Office of Management and Budget, in consultation with the Director of the Congressional Budget Office, shall submit a report to the Congress on the net amount within the Troubled Asset Relief Program under this Act. In any case where there is a shortfall, the President shall submit a legislative proposal that recoups from the financial industry an amount equal to the shortfall in order to ensure that the Troubled Asset Relief Program does not add to the deficit or national debt.
It's not directly addressed, but obviously Congress left the door open to revisit something such as a tax down the road. Maybe a mortgage tax would be better??
If Obama were to win, I'd feel better if the GOP took over both House and Senate to keep him in check. Man, this election is a "better of two evils" choice once again.
This is what makes me so scared... How could there be such stupid people in charge of this country?
If they put this tax , then overnight they would wipe out all daytrading. Fine.
But then you would also take out most of the liquidity left in the stock market, as well as making the spreads incredibly wide.
The exchanges would not be able to handle these sorts of volume drops and would start imploding....
The stock market would be essentialy worth 0, and then there goes all the retirement funds invested in the market.
Ideas just keep getting dumber and dumber.
If they put this tax , then overnight they would wipe out all daytrading. Fine.
But then you would also take out most of the liquidity left in the stock market, as well as making the spreads incredibly wide.
The exchanges would not be able to handle these sorts of volume drops and would start imploding....
The stock market would be essentialy worth 0, and then there goes all the retirement funds invested in the market.
Ideas just keep getting dumber and dumber.
lol please,,,people buy things everyday n the usa and pay a tax,,when the financial market was small,,,like the internet,,no tax was understandable,,but if the financial market is so large now that it can destroy the very foundation of our country then a tax needs to be paid to uphold the USA. Anyone votes against the tax hates the USA.