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Topic: Financial Transaction Tax<>Yes or No
Optomistic69 Joined Mon 10/10/11 Posts: 5173	Fri 05/18/12 02:20 PM Edited by Optomistic69 on Fri 05/18/12 02:23 PM
David Cameron British PM has been instructed by The City of London Elite to Oppose the financial transaction tax which Germany and France are in Agreement with. Seemingly it would Generate much needed Revenue for Social Need Are You in Favour or Not? http://www.youtube.com/watch?feature=player_embedded&v=ZzZIRMXcxRc

msharmony Joined Mon 08/31/09 Posts: 61041	Fri 05/18/12 02:54 PM
we have them here,, banking fees a wolf by any other name,,,but I would really need to weigh in the benefit to determine whether to be for or against it in our current state, generating more revenue is not something I generally oppose if it is done through policy that is justly applied,,,

lilott Joined Thu 10/12/06 Posts: 2295	Fri 05/18/12 03:03 PM
I don't pay any fees at my bank.

msharmony Joined Mon 08/31/09 Posts: 61041	Fri 05/18/12 03:04 PM
well, thats unusual...

Optomistic69 Joined Mon 10/10/11 Posts: 5173	Fri 05/18/12 03:18 PM
This Tax is not levied against high street bank account holders as I see it. It is to be applied to Money Speculators/Stock Exchanges Wall Street..London Stock Exchange...The Big Boys

Seakolony Joined Fri 11/07/08 Posts: 11968	Fri 05/18/12 03:29 PM
well, thats unusual... I do not pay any fees at my bank either.....

Chazster Joined Tue 08/28/07 Posts: 6206	Fri 05/18/12 03:50 PM
Most banks have a way of avoiding fees. By getting a certain balance, having direct deposit, etc

Peccy Joined Thu 06/28/07 Posts: 17181	Fri 05/18/12 03:58 PM
Most banks have a way of avoiding fees. By getting a certain balance, having direct deposit, etc no fees here.....no minimum balance, no checking, card fees, nothing. I would switch banks if it started.

Optomistic69 Joined Mon 10/10/11 Posts: 5173	Fri 05/18/12 04:03 PM
For the second time This Tax will not apply to Ordinary individuals. It is a Tax on Financial Investment Companies.

Jeanniebean Joined Wed 01/30/08 Posts: 40028	Fri 05/18/12 04:03 PM Edited by Jeanniebean on Fri 05/18/12 04:04 PM
I guess you need to watch the video to understand the actual question. Interesting. I think the tax is a good idea. TAX THE FAT CATS TO HELP THE POOR.

Optomistic69 Joined Mon 10/10/11 Posts: 5173	Fri 05/18/12 04:08 PM
I guess you need to watch the video to understand the actual question. Interesting. I think the tax is a good idea. TAX THE FAT CATS TO HELP THE POOR. Robin Hood...Rob the rich to help the poor

Seakolony Joined Fri 11/07/08 Posts: 11968	Fri 05/18/12 04:11 PM
Seriously, the only thing that concerns me about this kind of thing is the backlash from th banks onto the people. If you are going to tax the banking transactions, the banks aren't likely to want to lt the funds go. So, how does the banking industry recoup their loses??

Jeanniebean Joined Wed 01/30/08 Posts: 40028	Fri 05/18/12 04:18 PM Edited by Jeanniebean on Fri 05/18/12 04:18 PM
Seriously, the only thing that concerns me about this kind of thing is the backlash from th banks onto the people. If you are going to tax the banking transactions, the banks aren't likely to want to lt the funds go. So, how does the banking industry recoup their loses?? Did you watch the video? For them, it would hardly be missed. I don't think you have any idea how much money is involved in banking, and how small the amount would be that they would pay. Tiny.

Optomistic69 Joined Mon 10/10/11 Posts: 5173	Fri 05/18/12 04:21 PM
Seriously, the only thing that concerns me about this kind of thing is the backlash from th banks onto the people. If you are going to tax the banking transactions, the banks aren't likely to want to lt the funds go. So, how does the banking industry recoup their loses?? 0.05% per transaction or less and you are worried about the bankers

Seakolony Joined Fri 11/07/08 Posts: 11968	Fri 05/18/12 04:22 PM
Seriously, the only thing that concerns me about this kind of thing is the backlash from th banks onto the people. If you are going to tax the banking transactions, the banks aren't likely to want to lt the funds go. So, how does the banking industry recoup their loses?? Did you watch the video? For them, it would hardly be missed. I don't think you have any idea how much money is involved in banking, and how small the amount would be that they would pay. Tiny. Yes I watched the video, but no one is taking into account how much bankers hate losing money even a little bit.

Jeanniebean Joined Wed 01/30/08 Posts: 40028	Fri 05/18/12 04:30 PM Edited by Jeanniebean on Fri 05/18/12 04:31 PM
Seriously, the only thing that concerns me about this kind of thing is the backlash from th banks onto the people. If you are going to tax the banking transactions, the banks aren't likely to want to lt the funds go. So, how does the banking industry recoup their loses?? Did you watch the video? For them, it would hardly be missed. I don't think you have any idea how much money is involved in banking, and how small the amount would be that they would pay. Tiny. Yes I watched the video, but no one is taking into account how much bankers hate losing money even a little bit. True. They are greedy bastards. Not to mention they don't want to help the poor. Their solution to the problem of poverty is genocide. God forbid you help them to thrive and reproduce. They don't want that.

willing2 Joined Sun 06/08/08 Posts: 20221	Fri 05/18/12 04:52 PM
I do not pay any fees at my bank either..... What? Ya'll qualify for senior checking also??

Leigh2154 Joined Sun 10/02/11 Posts: 16479	Fri 05/18/12 04:54 PM
This tax is not about banking "fees", it is about market trading, market speculation, STOCKS and BONDS...It is nothing new and a sure bet it won't work in the US....Taxing transactions will only result in fewer transactions being made...Fewer transactions would mean market pushers (financial institutions) would need to keep more assets on hand which would leave them too vulnerable in a down market....Also, and a no brainer, now that we have electronic transfer capabilities trading would simply move to the lowest cost trading venue, in other words, overseas.....

Seakolony Joined Fri 11/07/08 Posts: 11968	Fri 05/18/12 05:16 PM
Seriously, the only thing that concerns me about this kind of thing is the backlash from th banks onto the people. If you are going to tax the banking transactions, the banks aren't likely to want to lt the funds go. So, how does the banking industry recoup their loses?? 0.05% per transaction or less and you are worried about the bankers You obviously didn't get the point of my post......not once was I worried about the banks loss but the backlash upon those they service.

Redykeulous Joined Thu 11/09/06 Posts: 6052	Sat 05/19/12 04:29 AM
Every person who takes the risk of market transactions are agreeing to taking that risk. Unless there foul play, risk is the name of the game, which is why there is so much money to be made in such transactions. Currently, the list of top risk takers are those who risk the most amount of funds with the least amount to loose whether the deal creates or loses funds. When there is a lost, the effect on mega millionaires is negligable. When there is a gain, the effect on the same people is negligable becasue they only pay 15% tax on the gain. On the other hand, the general public are actually taking a much greater risk because their loss can be devastating - but that's the name of the game. Their gain is also more costly because they don't have the tax loop holes available to shield them from a higer overall tax rate. Either way, if you play the game to the tune of millions (not likely for the general public)losses are negligable. Since the tax rate is not equal to any other wage taxation, then it seems fair, or rather, it seems more equitable to charge a tax on each transaction. It's the least negligable amount per person of any of the negligable risks, and it's benefit as tax revenue is huge. It sounds like the 'Robin Hood Tax' is simply a corrective measure and should be put in place.