Transaction Tax Bill has now been introduced

Quote from TraDaToR:

They are not referring to transactions made by american citizens on foreign exchanges, so I guess so...
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I think equity traders would get screw the worse, because it would tough to subsitute.
 
Quote from operator:

A ES trader could just open a account to trade foreign markets like FDAX. or a ZN trader could trade the Bund, etc... to get around this tax???
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think again...the german minister of finance is planning to reintroduce the "börsenumsatzsteuer", nothing else than a transaction tax. it was abolished in the early nineties.
 
I read the german tax was on the agenda of a party to unveil the parties direction before the election, and an election where they have no chance of overcoming Merkel so I heard it was pretty much dead in the water in Germany
 
Regarding the re-introduction of the German "Börsenumsatzsteuer" (transaction tax): At the moment there is just a proposal by Mr. Steinbrück to include this into the SPD party program for the coming elections later this year. However, according to current election poll trends, it could be that SPD will not even be part of the future government, because they are losing popularity by the day.

If this trend continues, the new goverment will be, most likely, a coalition of CDU and FDP, which are both strong opponents of such a tax, the FDP even more so than the CDU.
 
it includes the value of futures and stocks and could include options

Quote from operator:

I think equity traders would get screw the worse, because it would tough to subsitute.
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Quote from the1:

This is a self-defeating tax. It won't come close to 150B. Anaconda has nailed it; this bill isn't about generating revenue it's about shutting down speculating -- pure and simple.
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Not really shutting down speculation, just shutting down the small independent speculator. I think there are two goals with this tax. One is Wall Street elite forging their monopolistic hold on the capital markets. The second is to force the small & mid size players to join the Obama Nation.
 
Quote from timetotrade:

According to govtrack.us, this bill has been sent to the House Ways and Means Committee.

As someone posted earlier, Charles Rangel is the chairman of this committee. Write to him. It would be best to get this bill killed in committee.
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https://forms.house.gov/rangel/forms/contact.shtml

Rangel's contact info.

I would also send something to Chuck Schumer of NY:

http://schumer.senate.gov/new_website/contact.cfm

Schumer is on the Subcommittee on Securities, Insurance, and Investment and his State of New York would have a TON to lose if this bill were to pass!
 
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