1/4% Tax on all stock trades pushed in NY Times today

Here's an interesting article.

http://www.bworldonline.com/BW020409/content.php?id=004

In the Philippines, they have a 0.5% transaction tax, but no capital gains tax. Interesting twist.

+-*/ Math_Wiz

 

So they just removed their stamp tax, I guess if they bring it here we can all go trade in the Philippines!!

 

All we will have to do is dodge the bullets as we try to flee the US.

 

Apologies if this was posted already ...

It looks like they're trying to slip it into a bill to help pay for universal healthcare coverage.

http://www.pnhp.org/docs/nhi_bill_final1.pdf

(search pdf for "transactions")

 

Uh oh:

SEC. 211. OVERVIEW: FUNDING THE USNHC PROGRAM. 2
(a) IN GENERAL.—The USNHC Program is to be 3
funded as provided in subsection (c)(1). 4
(b) USNHC TRUST FUND.—There shall be estab- 5
lished a USNHC Trust Fund in which funds provided 6
under this section are deposited and from which expendi- 7
tures under this Act are made. 8
(c) FUNDING.— 9
(1) IN GENERAL.—There are appropriated to 10
the USNHC Trust Fund amounts sufficient to carry 11
out this Act from the following sources: 12
(A) Existing sources of Federal Govern- 13
ment revenues for health care. 14
(B) Increasing personal income taxes on 15
the top 5 percent income earners. 16
(C) Instituting a modest and progressive 17
excise tax on payroll and self-employment in- 18
come. 19
(D) Instituting a small tax on stock and
bond transactions.

 

Old news

 

HR 676 is a Conyers and Kucinich vehicle and not "mainstream" legislation.

http://www.hr676.org/

 

Exactly, Kucinich is scum

 

Thanks. I haven't been keeping up on this.

I wouldn't put it past some of those scumbags to try and sneek that shiite in...

 

They won't be able to "sneak it in" -- this is a huge topic in which Summers knows quite a bit about and it's not something that will just be "missed" in a big bill. If it's implemented then it's because they wanted it in and thought long and hard about it and made the stupidest decision of their political lives.