I am with you, besides that one NYtimes article, i have yet to find anywhere else talking about this.
Pro Transaction Tax blog article with comment section. Get commenting folks. http://davidemeadows.newsvine.com/_...new-taxes-on-the-super-rich?commentId=4820392 If we overwhelming shout down each of these articles, these proponents won't know what hit them & they may pipe down.
Could they levy this tax on forex since there is no exchange? I don't trade forex but just wondering if I should start checking out some charts just in case.
Funny I was just thinking that about fx, since I just switched over. There is no exchange and no mention of it in the bill. Its hard to tax something thats more or less not centralized. So now we will see the influx of fx traders Us speculators are to small to move fx erraticlly. Plus this is not the lighting rod like stock/futures trader is on wall street now. The avg joe schmo doesnt even now about fx trading
The transaction tax was actually a part of the original TARP bill !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! (the first TARP bill that did not receive enough votes, causing market to tank 700 points). It was buried in the bill. It could just as well be passed with Dems having larger majorities in house and senate.
I got this from the following link: http://timesofindia.indiatimes.com/..._tax_in_securities_EY/articleshow/3995872.cms The study reveals that the securities transaction tax is either non-existent or on its way out in all the advanced markets. None of the countries, where E&Y conducted its study, charges turnover-based tax under its direct tax laws. Earlier, countries like Japan, France, Germany and Sweden used to charge a similar tax, but ultimately they, too, had to abolish that, the report said. +-*/ Math_Wiz
Good find. And to think the developing countries are dropping or questioning the transaction tax and in the US, the backward barbarians are proposing to take us back to the Dark Ages.
http://technorati.com/articles/FrOyceFRIc3a6ASZo8CHiE3NCs8nvO6pelwMz1w6XyA= This site has 44 links to sites reacting to the NYT article.