should anyone rely on this opinion? when legislators get desperate for revenue they will pile on even if the ftt will not bring in the projected revenue.
http://www.exposethetpp.org/TPPImpacts_FinRegulation.html now that the bill (TPP) has passed does that help stop this transaction tax nonsense? like what the robin hood loser crowd claims in the above link????
The only place I have seen reference of an ftt in relation to tpp is on sites such as the above which are generally full of hysterical and misleading infomation in their opposition to it, does any one have any information on that
Sanders Presses for Vote on Financial Transaction Tax Liberal Democrats plan to target hedge fund managers and corporations with a push for Senate floor action on a proposed financial transaction tax that has been embraced by two presidential candidates: Sen. Bernard Sanders and former Maryland Gov. Martin O’Malley The Sanders proposal would put an excise tax of 50 cents on every $100 of stock shares sold while providing a tax credit equal to any taxes owed for small investors with gross incomes up to $50,000 for individuals or $75,000 for couples. The Sanders bill is projected to raise more than $1 trillion over 10 years, with the proceeds set aside for individual subsidies for higher education. Proponents such as Dean Baker, co-director of the Center for Economic and Policy Research, a liberal think tank, say the transaction tax proposals resemble rates already in effect in Europe. Such levies could provide a source of revenue for liberal priorities of the Democratic presidential front-runner, former Sen. Hillary Rodham Clinton of New York.But other political observers, such as Wendy Schiller, a professor of political science at Brown University, said they doubted the transaction tax would resonate as Sanders and O’Malley vie with Clinton. http://www.rollcall.com/news/sanders_presses_for_vote_on_financial_transaction_tax-242517-1.html
In contrast to the high minded rhetoric emanating from european politicians, it seems, probably unsurprisingly, that the real enthusiasm for the tax was a lot more cynical - simply to land the bill for the eurozone crisis on the US and UK. From a leaked phone call in 2011: " ...(Angela Merkel) reportedly expressed the wish to finance the cost of the eurocrisis through a financial transaction tax (FTT) in the coming year. “In that regard the Germans thought that pressure could be brought to bear on the US and British governments to help bring about an FTT,” the summary concludes. " http://www.irishtimes.com/news/worl...ed-in-2011-greek-debt-unsustainable-1.2270858
EU's Moscovici sees financial transaction tax in place early 2017 Negotiations over a planned tax on financial transactions in 11 European countries could wrap up later this year and the levy could be in place by early 2017, EU Economic Affairs Commissioner Pierre Moscovici said on Wednesday. Speaking at a financial sector conference in Paris, Moscovici said that the aim was to have a widely applicable tax but at a low rate. "I have the impression that all of that (the talks) is going to wrap up during the autumn of 2015 with application at the start of 2017," Moscovici said. French Finance Minister Michel Sapin told journalists at a news conference on Wednesday the tax could be applied in a first phase as early as January 2016 as it would be too complicated to have it fully up and running until later. "We've made good progress on the basis sought by France," Sapin said. He added that that meant a widely applicable tax with a low rate that could be collected in a way that would discourage financial firms from shifting business to countries where the tax did not apply. http://www.cnbc.com/id/102817392 ---- Germany the parasite of europe looking for someone else to pay its way.