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Merkel to campaign for markets tax at G20

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posted on May, 20 2010 @ 09:48 AM
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Merkel to campaign for markets tax at G20


www.google.com

BERLIN — German Chancellor Angela Merkel said Thursday she would lead a campaign for a tax on financial markets at the next summit of the Group of 20 major economies in June and called for international support.

She did not specify whether she was seeking a financial activity tax, which would cover profits and bonuses, or a financial transaction tax, an across-the-board levy on all market dealings.
(visit the link for the full news article)




posted on May, 20 2010 @ 09:48 AM
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Sounds like a very good idea. I've always wondered why banks - largely responsible for this mess - are being allowed to continue making large sums of profits while we, the people, are burdened with the costs of their mess.

They should have been forced to transfer most of their profitability into a fund for rescue packages and bail-outs. I am very curious about the details of this 'taxation plan', but I am also afraid that it will always remain to be a plan. The powerful banking branch is never going to allow this to happen.

www.google.com
(visit the link for the full news article)



posted on May, 20 2010 @ 10:12 AM
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MDv
from the source you quoted I would guess one option would hit the rich more the the poor. The tax that would cover profits and bonuses, if it is to be a straight percentage, might hit the rich more then the normal people. The other to me seems like it would cover the masses and would get most of its revenue from the working people who are trying to save for retirement. That being said the question will be which with the government chose?



posted on May, 20 2010 @ 10:56 AM
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reply to post by Mdv2
 


An across the board transaction fee would make sense. Something like a quarter of a %. They should also increase short terms gain taxes to about 50%. These two steps would go a long way to turn the markets back to an investment mentality and away from it's current casino mentality. This is what is really needed to turn the world's economy back around and take control back away from the dark pools.



posted on May, 20 2010 @ 12:09 PM
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Originally posted by sligtlyskeptical
reply to post by Mdv2
 


An across the board transaction fee would make sense. Something like a quarter of a %. They should also increase short terms gain taxes to about 50%. These two steps would go a long way to turn the markets back to an investment mentality and away from it's current casino mentality. This is what is really needed to turn the world's economy back around and take control back away from the dark pools.


You have GOT to be kidding me. This is NOT good for ANY economy around the world. Not good for any country.

The Foreign Exchange market is a $1 trillion a day industry. That is $1 trillion per day currencies are traded around the world. dollars for pounds, pounds for euro's, us/aus us/jpy, etc

0.25% of a trillion dollars is 2.5 billions dollars. x 365 days is 912.5 billion dollars taken out of everyones pocket who trades money, or goes overseas on trips, buys good from overseas, ...

It's not just the banks money. It's your money too... It's everyones money.

COngratulations. Now everyone who gets goods overseas or from another country has to pay more.

Congratulations. 912.5 billion more money to go to the governments of the world. Congratulations on losing more of your money...

I'm trying to get into the foreign exchange market. Thanks for making me lose an extra .25% of the money im already losing.... THANKS!!!



posted on May, 20 2010 @ 01:03 PM
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Originally posted by sligtlyskeptical

An across the board transaction fee would make sense.



Skeptical
I can't help but think that is what a rich person might say because a fee like that would be caped at a certen amount, thus the rich could make big transactions while paying the caped amount while the poor trying to save for retirement would be paying there percentage every two weeks or every month which ever the case may be.



posted on Jun, 4 2010 @ 12:27 PM
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June 4 (Bloomberg) -- German Finance Minister Wolfgang Schaeuble said he’s confident the U.K. and “many others” will join Germany in pushing for a European levy on all financial transactions if the Group of 20 fails to adopt the measure.

Schaeuble, in an interview on his plane to Busan, South Korea, where he’s meeting G-20 counterparts today, said that Germany’s main goal in the talks is identifying how to make the finance industry share in the cost of the current crisis, specifically through a global financial-transactions tax.

In the absence of such an agreement at G-20 level, “we will throw our weight behind European regulation and we won’t be alone in that,” Schaeuble said. “I hope that the U.K. and Germany together will push for a global transaction tax. In talks with my British colleague I understood him to suggest that he’s open for a global solution.”


source



posted on Jun, 4 2010 @ 12:38 PM
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reply to post by Mdv2
 


If these were internal taxes, it might be ok.

These are global taxes that will provide revenue for the IMF. This is part of the plan to create a new Bretton Woods style financial system. The goal being to create a new monetary standard, the SDR standard, that all world currencies would be valued by.

So this is kind of disturbing.



posted on Jun, 4 2010 @ 02:26 PM
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A global transaction tax, to fund the IMF. I think I have rarely heard of a more blatant way to keep the banking cartels rich and in power. I think this would be a good time to call your representative and tell them how you feel about this.



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