With the UK passing the banker bonus tax and it being absorbed by the banks rather than their employees - which snagged US banks doing big business in the UK - the US probably figured it had to move it's TARP Tax payback program up faster. To get their share of the global banker shakedown and act before the rest of the EU does too. Notice the TARP tax snags foreign banks. Next up will be the other major EU money centers like France or Germany unless they are still holding out for a wider financial transaction tax. Hopefully France and Germany will choose the UK or US approach instead. France said early on it would follow the UK lead. The bank and bonus taxes pay back bailouts. Will the EU still want a financial transaction tax on top - greedy taxmen - to fund global spending plans like poverty? Will increasingly important Asian money centers follow suit too? They may not be in lock step with the West and seek to win rich refuge banker business.
Spot on answer , Merkel...LOL The difference seems fuzzy in her mind: http://www.reuters.com/article/idUSBAT00503720100115
Merkel said: "We want an international discussion ... and I have often said I could imagine a financial transaction tax." imagine all the people...living for to-deeeehhhh...
Strauss-Kahn:âItâs very significant that the part of the world where many commentators said you will have nothing done in the U.S. -- because Wall Street, banks and financial institutions are too strong -- is the first part of the world where a real proposal is made.â http://www.bloomberg.com/apps/news?pid=20601068&sid=aVBTuR12VTZw
Very nice quotes from DSK in that Bloomberg piece. It's probably a pretty good bet that the IMF report will closely resemble the US' bank levy plans (or some similar flavor). I would be shocked if the IMF came out in favor of a Tobin tax. -Guru
yeah, f*** off Sarkozy http://www.telegraph.co.uk/news/wor...colas-Sarkozy-over-dirty-tricks-campaign.html Don't f*** with DSK and the IMF.
World Health Organization now calling for some sort of transaction tax (FTT mentioned in middle of article): http://www.foxnews.com/story/0,2933,583127,00.html
why not tax everything at 100%? ... Because they'll still run out of money... why? Bacause Milton Friedman said so. "If you put the federal government in charge of the Sahara Desert, in 5 years there'd be a shortage of sand." Milton Friedman