Well we generally think it wont happen, but pols are dumb and we cannot put anything past them. AND if most countries agree , it actually wouldnt hurt them as long as all the major financial centers agreee it will be status quo for them plus extra revenue. So we shall see. I dont think our government cares about all countries just major financial centers.
So something like this: You cannot have a market without the market makers. Who will be the market makers and will they be exempt? Will market makers like Goldman Sachs and the other bailouts that everybody hates be exempt or will the cost of the tax be passed onto the so called exempt investor? How much will Goldy gouge? 2%, 4%? That's multiples more than the tax itself.
During the years 1984-1991 Sweden had a salestax on stocks and Financial Instruments. The trading went abroad and so the taxation on Capitalgains. The same socialistic goverment abolished the tax 1991.
I've been trying to ring the alarm bells on what Copenhagen is all about. It's not the climate silly rabbits, it's all about global taxation. Now that truth is out... 2% on all transactions: Lord Christopher Monckton warns that the secretive draft version of the Copenhagen climate change treaty represents a global government power grab on an âunimaginable scale,â and mandates the creation of 700 new bureaucracies as well as a colossal raft of new taxes including 2 percent levies on both GDP and every international financial transaction. Speaking with The Alex Jones Show, Monckton, who is in Copenhagen attending the UN climate summit, said that when he attempted to obtain a copy of the current draft of the negotiating text agreement, he was initially rebuffed before he threatened an international diplomatic incident unless the document was forthcoming. âI insisted and it took about 10 minutes and they consulted each other with three or four of them arguing over it â none of them would produce the documentâ¦.I said I know this treaty exists because this is what the conference is all about,â said Monckton. Only after Monckton threatened repercussions was he handed the the current draft of the treaty, and the details it contained are perhaps a clue as to why the UN officials were so keen to keep it under wraps. âOnce again they are desperately trying to conceal from everybody here the magnitude of what theyâre attempting to do â they really are attempting to set up a world government,â said Monckton, adding that the word âgovernmentâ was no longer used but the process of further centralization of power into global hands was clearly spelled out in the treaty. Monckton said that the new world government outlined in the treaty would be handed powers to, âTax the American economy to the extent of 2 percent GDP, to impose a further tax of 2 percent on every financial transactionâ¦.and to close down effectively the economies of the west, transfer your jobs to third world countries â all of that is still in the treaty draft.â http://www.prisonplanet.com/monckto...-creates-larcenous-global-government-tax.html
Once there was a farmer who had a Golden Goose in his backyard that layed Golden Eggs. But one day he got a little hungry, and stupid, and he pulled out his shotgun and killed the goose and ate it. And a couple days later, what did he have? He had a dead goose and no more Golden Eggs. The entire logic behind an FFT is faulty to the point of insanity. The proponents of this tax want to stop the very activity that they propose to tax, in order to create additional income. But the activity itself already creates bilions and billions in capital gains, and taxes on companies and individuals who support the industry. Thus you kill the industry that was providing you with income, and you now have no source of the new tax. And to add insult to insanity, we actually pay these fools to come up with these ideas?
...................................................................... What we need to do is to form Class Action Lawsuits versus non qualified politicians and faulty media...as they cause reckless untold financial damages to traders that has taken decades to construct.... My view is that any one person's livlihood which is adversely affected by non qualified people is not acceptable.... Some heads need to roll... ie DeFazio, Harkins, Pelosi and others.... Harkins latest fiasco....corn based ethanol.... Perhaps there should be a .000001 tax to fund a legal purse for traders such that the trader community should take legal action against the likes of non qualified individuals such as DeFazio, Harkins, and Pelosi....along with the media that advertises their views.... their personal financial holdings as well as their families should be confiscated and put into the traders fund as well....after all they are trying to do the same to you.... Sorry but just keeping these fools out of office is not enough.... I want their family assets ....and THEM in jail.... All traders should make it their main mission to eliminate these people from office to the jail cell.....for causing reckless damages....
I m from Germany and i don t think its off the tables. Merkel will follow France and UK. The Rest of the EU Countries will follow this three leaders too They all need money ..... Thats the temptation.
Thanks for the insight from someone on the ground in Germany. I know they said its off the table, and one country doesnt want to raise taxes we understand that but when other countries do and then Germany can see they wont be affected if they raise the tax then they might. Because like you said all countries need money right now and probably can be easily swayed. So keep us posted from Germany if there is any chatter about this.
Next year's general election in the UK may signal the death of this horrible idea. Brown's government is deeply unpopular and are highly likely to be voted out. The Conservatives - who have already voiced their opposition to the tax - will then be the next government. As long as the Conservative Government reject the tax, as seems likely, it would be lunacy for the US or any other country to adopt the tax unilaterally as their business would just be gifted to London. This tax needs global consensus to have any chance of adoption. Even Gordon Brown acnowledges this. This gives Brown et al just six months to achieve global consensus, before they are consigned to history.