Taking Aim At Stock Tax Financial industry lobbyists are working to kill a new House bill that http://undertheinfluence.nationaljournal.com/2009/12/lobbyists-for-several-leading.php
"U.S. pledge, signal from China spur hope for climate deal" http://www.latimes.com/news/nation-and-world/la-fg-us-climate18-2009dec18,0,3752887.story "Secretary of State Hillary Clinton says Washington will join allies in raising $100 billion to help poor countries, and Beijing appears willing to allow outside verification of greenhouse gas limits." I don't like where this thing is heading. So they strike and deal and Obama comes in at the last minute looking like a savior. I sure hope they arn't planning on transaction taxes to pay for this... -Guru
Gang, actually this is something we really need to pay attention to. Something tells me if there is to be a transaction tax that has the capability of going global, it may come from something like this. Think about it for a second, you got these politicians proclaiming that there is a global fight on climate change. They will look for a "global" solution. Don't be surprise if a transnational transaction tax is one of their key pillars. Yes, I know what Austrialian PM Kevin Rudd said. But he's a politician, and all of those bums wear many faces. We can't be blindsided by this!
From the AP: UN Climate talks: US, China edge toward each other: COPENHAGEN â The United States and China took steps Thursday toward a broad agreement that could be sealed by President Barack Obama and Premier Wen Jiabao when they arrive at the flagging U.N. climate talks. Although the initial Chinese reaction to Clinton's announcement was somewhat positive, a leading Bangladeshi delegate felt otherwise. "This is inadequate," said Quamrul Islam Chowdhury. "We are looking for around $600 billion." In addition, the developing nations want long-term financial support based on stable revenue sources, such as an aviation tax that might be the goal of future international climate talks. -Guru
We wont be blindsiided here, its kind of expected. But we need to see what congress will do, and then if we have to rewrite everyone. We shall see in a few days where this thing is headed. Your right Rudd is a politican, they dont care about the transaction tax per se at all they just dont want to lose business so I think everyone would cheer a global tax this way the playing field is even and all the politicans can raise money. If they get most financial places I think thats all they would need, the can legislate around to stop the flow to other countries not under a global levy. So we cannot let this fight get that close. Keep writing ur officals here and in your own countries .
http://home.globalcustodian.com/news/MTF/Exchanges/NYSE-Euronext-CEO-Hopeful,-But-Wary/36433 Anyone have a subscription to the above, I only caught the headline that Duncan the NYSE cheif is hopeful but wary of the tax, last month his comments said he was assured this would not happen, so a change of stance now is concerning!
I just can't see the Senate going for something like this. Cap and Trade is pretty much DOA in the Senate from what I've read. Now they want to send huge amounts of money to third world countries when there is so much hardship here at home? That will not sit well IMHO.. I would think the US would have a plan of where their going to get the money to fund this. It's been mentioned carbon credits, etc but I think thats part of the stalled out cap and trade plan. Also I wonder how much the US is willing to pony up? They are calling for $100B annually by 2020 but how much is the US going to contribute (20B)? -Guru
Yeah I am no sure what are cut is, but its getting ridiculous that we are to blame, sure we pollute but the rest of the world would be in the dark ages stil without all our techology over the industrial period we had. So there are consequences of things but thats how it goes. We have made a better life for far more then we have made a worse life for. Not to mention all the aide we give thats been corrupted by these 3rd world governments, tell them to use that.
COPENHAGEN -- The parade of US politicians to the climate change talks continued this morning when Republican Senator James Inhofe of Oklahoma arrived for a two-hour visit to the Danish capital. His message for negotiators was that Congress will never pass a cap-and-trade bill to reduce greenhouse gas emissions, and he reiterated his stance that man-made global warming is not occurring. Inhofe, who held an impromptu press conference in the Bella Center, said the chances of passage of pending climate and energy legislation were "zero" and would remain so if such a bill was financially harmful to Americans in any way. "I figure you are going to hear from the other side," he said, "so I wanted you to hear" this side. Inhofe has been one of the most ardent detractors of man-made climate change, and this morning was no exception. He said the recent hacking, and publishing, of e-mails from a prominent climate change research group at East Anglia University in England showed that "the science has been debunked." Climate skeptics have seized on the disclosure of the e-mails, which they have branded "climategate," as evidence that the scientists manipulated data to achieve results that showed the world was warming. There is overwhelming evidence that human activity is contributing to the global temperature rise through the release of carbon dioxide from power plants, factories, and cars, but the e-mails have harmed the scientists' credibility. US Representative Ed Markey of Massachusetts and other congressmen are expected to also arrive shortly. http://www.boston.com/lifestyle/green/greenblog/2009/12/inhofe_arrives_in_copenhagen_t.html It's not going to be pretty