For me, this tax will most likely fall off my radar once its number one cheerleader is voted out of office on May 6. If he's not voted out, then the next key date will be the Nov elections when the GOP should pick up more seats. I don't put much weight in the IMF report, since we see "important" reports and commissions on a variety of issues come and go without any action or resolution.
Hit the comment section. http://www.forbes.com/forbes/2010/0315/opinions-trading-tax-financial-transactions-on-my-mind.html
My post: Make investors, pensions, mutual funds, and retirees pay up again? Are you out of your mind? This tax will hit the little guy who is already on the hook for bailing out Wall Street! Either you have no idea what you are talking about (which I doubt) or you want to turn naive populist anger against Wall Street into support for the "progressive" tax scheme you have been pushing for the past decade. Never let a good crisis go to waste. INDEED!
http://www.breitbart.com/article.php?id=D9E3GOC00&show_article=1 This could be interesting for us. Charlie Rangel head of the tax writing house ways and means committie was basically found to have committed violations by the ethics committee. He said all along he would be exonerated. Now lets see if they start calling for his ouster and who might be inline for his seat. Could help us or hurt us.
From reading online the next in line to chair the House Ways and Means Committee is non other than FTT loving Pete Stark. This could be bad for us. Let's hope either Rangel rides out the storm somehow or they give the chairmanship to someone else (if thats possible)? -Guru
Do you have any info on Pete Stark supporting FTT? I couldn't find any. Are you sure you're not thinking of the other CA democrat named Stark, Fortney Stark, who co-sponsored 1068?
A spot of good news: http://in.reuters.com/article/marketsNewsUS/idINN2524055320100225?pageNumber=1&virtualBrandChannel=0 ...Representative Richard Neal, who heads a tax-writing subcommittee, said he did not think "companies that didn't take" money from the government's $700 billion bailout fund should be penalized. "Most of the financial companies that I've worked with over many years - they were not guilty of errant behavior," Neal, a Democrat from Massachusetts whose district abuts Boston, said at a conference in Washington. ...Neal's comments signaled proposals to tax financial transactions will not move forward in Congress. One congressional plan would impose a 0.25 percent tax on over-the-counter derivatives transactions and stock trades. Neal said he made his argument to Representative Charles Rangel, who chairs the powerful House Ways and Means tax-writing committee. "I think for the moment (Rangel) is in agreement with me," Neal said at the conference. He also said he was making his case to the Treasury Department.
Fortney "Pete" Stark are the same person (LOL). I guess Pete is his nickname: http://en.wikipedia.org/wiki/Pete_Stark He's a co sponsor on Defazio's HR 4191... -Guru
Obama's $90 Billion Bank Fee May Be Revised by Panel: http://www.bloomberg.com/apps/news?pid=20601109&sid=ay_6XDRneDps&pos=11 One idea under discussion would base the fee on income rather than balance sheet calculations as proposed by Obama on Jan. 14, said Matthew Beck, the committee spokesman. âThe committee expects to discuss a number of approaches to ensure American taxpayers are made whole for their extraordinary assistance to financial institutions in recent years,â Beck said in an e-mailed statement yesterday. âA levy based on income is one approach that will be part of this broad discussion.â A committee aide familiar with the discussions, and not authorized to comment on them, said lawmakers also are discussing including executive bonuses in the income that would be assessed. Such bonuses generally are tax-deductible. No mention of a FTT so thats good news. Let's hope it stays that way and that Pete Stark doesn't take over chairmanship of the House Ways and Means Committee should Rangel be ousted. -Guru
I assume you'll be along to tell us that you were able to convince your senator to vote against a FTT.