Quote from rsikit:
The DeFazio bill has been referred to the House Ways and Means Committee. "We have no plans at this time to hold hearings on the bill," said Matthew Beck, a spokesman for the committee.
That is a very recent statement from House Ways and Means regarding the new defazio bill HR 4191 This article is from today traders magazine.
Very good piece - thanks for posting that. I'm kind of bothered by this statement in the piece:
Treasury Secretary Timothy Geithner, in a recent interview on Bloomberg Television, said he favors the STT idea provided it wouldn't hurt the individual investor. "I have not seen a version of that that I think works," Geithner said.
I don't think he said he favors a STT - I think he favors an insurnace type levy against the banks (not on transactions)...
I also didn't like this from Pelosi:
But this time the bill has the support of the Speaker of the House, Nancy Pelosi. She said it has "a great deal of merit." She also said the U.S. might convince its foreign trading partners to make the STT a global tax.
I truely hope the US isn't going to try and convince it's foreign trading partners to make this a global tax. Thats just nuts.