WSJ today: Democrats Weigh Tax on Financial Transactions

Another CNBC segment on the transaction tax....12:30 EST

 

Really not sure about that... Western countries can't even cooperate and curb tax evasion, they won't be able to impose what would be the first ever worldwide tax... Especially since every country is sovereign on their tax and would literally hit jackpot by not following the US... they would get my money for sure.

The exchange that will replicate CME contracts will be the next big thing... I would take a membership before any trade has been made...LOL

 

Thanks for the update Drukes, and old trader

 

Then capital will just flee and we'll flee with it and be forced to learn how other markets work but at least we'll still have a job.

 

Agree. We would have to relearn a new market... And that will be tough.

 

Ok cnbc segment not a big deal, but come on that chick, could they get someone else, love the accent and would have fun with her but geez ! Just glad the house ways and means spokesman said not looking into it some good news

This is from Trade the news front page


Today 11:11am EST/03:11pm GMT
House and Ways Means Committee Spokesperson: Financial transactions tax not being considered by committee ***Note: On 10/09 WSJ reported that House Democrats were still considering tax of financial more...



But I do not have a subscription so couldnt see what else it says

 

Oh hell. Got a bad feeling we are going to be f*cked until Repubs take over and try to fix Obama's mess...

 

I think that we will have to keep proactive and PRESENT ALTERNATIVES when we are writing our reps, commenting on newspapers... We have to say that for example, FMI proposals to create an insurance funded by banks is a better alternative if we want Wall Street to pay for the crisis ,and not Main Street( mutual funds, farmers, investors...).

 

Here is the Reuter's story:

http://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUSN1213559220091012

"The idea of a financial tax has been floated, including in a piece of proposed legislation that would place a tax of one-quarter of one percent on transactions by those firms that have received financial bailout funds."

This talks about taxing the transactions of those firms that received bailout funds. I think thats incorrect? That would be the first I have heard of it spun that way...

-Guru

 

I havent heard that either, but the hr 1068 legislative bill mentions the tax on everyone . So i attribute the reuters just got it wrong and didnt do the due diligence