Community > Politics, Current News & Events

Topic: Financial Transaction Tax<>Yes or No
InvictusV Joined Sun 11/23/08 Posts: 5282	Sat 05/19/12 04:57 AM
This is where I get highly irritated.. For the two hundredth time.. If you want to fix the economic and financial problems that are currently engulfing the entire planet YOU DO NOT GIVE GOVERNMENTS MORE FNING MONEY TO PISS AWAY What part of this do you people not understand? Banks can take risks like those that caused this fning problem in the first place because they fning know GOVERNMENTS are going to bail their stupid a$$es out.. Why is this so hard for you people to comprehend?

Optomistic69 Joined Mon 10/10/11 Posts: 5173	Sat 05/19/12 05:03 AM Edited by Optomistic69 on Sat 05/19/12 05:07 AM
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. Ok you are not worried about the Bankers. If your bank starts to charge you fees to recoup....change your bank.

Optomistic69 Joined Mon 10/10/11 Posts: 5173	Sat 05/19/12 05:12 AM Edited by Optomistic69 on Sat 05/19/12 05:16 AM
Financiers have always threatened to take their money elsewhere if they do not get their own way. They got their way and totally phucked up..... Invictus this is not about giving more money to governments...its about taxing the financial sector.

Conrad_73 Joined Sat 09/29/07 Posts: 22488	Sat 05/19/12 05:18 AM
http://mises.org/daily/6056/JPMorgan-Chase-and-Central-Banking It is the government who Taxes with one Hand,and screws everything with the Other,as usual!

Seakolony Joined Fri 11/07/08 Posts: 11968	Sat 05/19/12 05:29 AM
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. Ok you are not worried about the Bankers. If your bank starts to charge you fees to recoup....change your bank. Okay if one does it they all do it.....and wasn't worried about me either you still miss the point....

Seakolony Joined Fri 11/07/08 Posts: 11968	Sat 05/19/12 05:31 AM
I do not pay any fees at my bank either..... What? Ya'll qualify for senior checking also?? I have direct deposit and all I have to do on savings is make sure i meet my monthly deposit to avoid fees and not take too many withdraws

Seakolony Joined Fri 11/07/08 Posts: 11968	Sat 05/19/12 05:34 AM
Financiers have always threatened to take their money elsewhere if they do not get their own way. They got their way and totally phucked up..... Invictus this is not about giving more money to governments...its about taxing the financial sector. Really?? Because whenever a government takes a tax for a purpose of helping it ends up getting stolen for something other than waht it was intended like financing politicians and more wars......I thought you were agsinst those types of things.....maybe I pegged you wrong

HotRodDeluxe Joined Sun 05/06/12 Posts: 2743	Sat 05/19/12 05:37 AM
Perhaps the PM realises that the banks will merely pass on this tax to the consumer via bank fees of one form or another. What does he do? Take the populist route and feel voter backlash come election time, or oppose this tax and use it in his favour?

Leigh2154 Joined Sun 10/02/11 Posts: 16479	Sat 05/19/12 06:24 AM
http://mises.org/daily/6056/JPMorgan-Chase-and-Central-Banking It is the government who Taxes with one Hand,and screws everything with the Other,as usual! This is the SUMMARY from the link Conrad posted....If your didn't read the link, at least read the summary... Summary and Conclusions According to some commentators, the huge $2 billion loss by JPMorgan Chase, caused by the risky bets placed using the bank's money, raises the need to implement the Volcker rule — more controls on banks' activities. Critics of the Volcker rule are of the view that it will only make things much worse by stifling the efficient allocation of scarce real resources. Our analysis holds that as long as we have a central bank, in order to minimize the damage its policies inflict, it makes sense to impose tighter controls on banks. It is the central bank that enables banks to practice fractional-reserve banking, thereby polluting the economy with money out of thin air. A better alternative is of course to have genuine free banking without the central bank.

Conrad_73 Joined Sat 09/29/07 Posts: 22488	Sat 05/19/12 06:37 AM
http://mises.org/daily/6056/JPMorgan-Chase-and-Central-Banking It is the government who Taxes with one Hand,and screws everything with the Other,as usual! This is the SUMMARY from the link Conrad posted....If your didn't read the link, at least read the summary... Summary and Conclusions According to some commentators, the huge $2 billion loss by JPMorgan Chase, caused by the risky bets placed using the bank's money, raises the need to implement the Volcker rule — more controls on banks' activities. Critics of the Volcker rule are of the view that it will only make things much worse by stifling the efficient allocation of scarce real resources. Our analysis holds that as long as we have a central bank, in order to minimize the damage its policies inflict, it makes sense to impose tighter controls on banks. It is the central bank that enables banks to practice fractional-reserve banking, thereby polluting the economy with money out of thin air. A better alternative is of course to have genuine free banking without the central bank. try to get the Statists to see this! Would be worse than pulling Teeth!

HotRodDeluxe Joined Sun 05/06/12 Posts: 2743	Sat 05/19/12 06:40 AM
http://mises.org/daily/6056/JPMorgan-Chase-and-Central-Banking It is the government who Taxes with one Hand,and screws everything with the Other,as usual! This is the SUMMARY from the link Conrad posted....If your didn't read the link, at least read the summary... Summary and Conclusions According to some commentators, the huge $2 billion loss by JPMorgan Chase, caused by the risky bets placed using the bank's money, raises the need to implement the Volcker rule — more controls on banks' activities. Critics of the Volcker rule are of the view that it will only make things much worse by stifling the efficient allocation of scarce real resources. Our analysis holds that as long as we have a central bank, in order to minimize the damage its policies inflict, it makes sense to impose tighter controls on banks. It is the central bank that enables banks to practice fractional-reserve banking, thereby polluting the economy with money out of thin air. A better alternative is of course to have genuine free banking without the central bank. Well, hello Cutie. :D

Leigh2154 Joined Sun 10/02/11 Posts: 16479	Sat 05/19/12 06:45 AM
http://mises.org/daily/6056/JPMorgan-Chase-and-Central-Banking It is the government who Taxes with one Hand,and screws everything with the Other,as usual! This is the SUMMARY from the link Conrad posted....If your didn't read the link, at least read the summary... Summary and Conclusions According to some commentators, the huge $2 billion loss by JPMorgan Chase, caused by the risky bets placed using the bank's money, raises the need to implement the Volcker rule — more controls on banks' activities. Critics of the Volcker rule are of the view that it will only make things much worse by stifling the efficient allocation of scarce real resources. Our analysis holds that as long as we have a central bank, in order to minimize the damage its policies inflict, it makes sense to impose tighter controls on banks. It is the central bank that enables banks to practice fractional-reserve banking, thereby polluting the economy with money out of thin air. A better alternative is of course to have genuine free banking without the central bank. Well, hello Cutie. :D

Optomistic69 Joined Mon 10/10/11 Posts: 5173	Sat 05/19/12 07:20 AM
Financiers have always threatened to take their money elsewhere if they do not get their own way. They got their way and totally phucked up..... Invictus this is not about giving more money to governments...its about taxing the financial sector. Really?? Because whenever a government takes a tax for a purpose of helping it ends up getting stolen for something other than waht it was intended like financing politicians and more wars......I thought you were agsinst those types of things.....maybe I pegged you wrong You got me pegged right...The Tax in Question is not for war and certainly not for our political Whoremongers. If it makes the bankers happy the revenues can be ringfenced for social need. I am posting from a mobile phone and It's doing my head in.

InvictusV Joined Sun 11/23/08 Posts: 5282	Sat 05/19/12 08:09 AM
Financiers have always threatened to take their money elsewhere if they do not get their own way. They got their way and totally phucked up..... Invictus this is not about giving more money to governments...its about taxing the financial sector. Really?? Because whenever a government takes a tax for a purpose of helping it ends up getting stolen for something other than waht it was intended like financing politicians and more wars......I thought you were agsinst those types of things.....maybe I pegged you wrong You got me pegged right...The Tax in Question is not for war and certainly not for our political Whoremongers. If it makes the bankers happy the revenues can be ringfenced for social need. I am posting from a mobile phone and It's doing my head in. I hate to break the news to you, but the EU tax proposed by comrade Barroso is to replenish the funds to the ECB loaned out to countries like Greece.. The dear comrade knows they aren't getting the money back.. To imply that this is going to be used for the poor is ridiculous.

Seakolony Joined Fri 11/07/08 Posts: 11968	Sat 05/19/12 10:29 AM Edited by Seakolony on Sat 05/19/12 10:29 AM
Financiers have always threatened to take their money elsewhere if they do not get their own way. They got their way and totally phucked up..... Invictus this is not about giving more money to governments...its about taxing the financial sector. Really?? Because whenever a government takes a tax for a purpose of helping it ends up getting stolen for something other than waht it was intended like financing politicians and more wars......I thought you were agsinst those types of things.....maybe I pegged you wrong You got me pegged right...The Tax in Question is not for war and certainly not for our political Whoremongers. If it makes the bankers happy the revenues can be ringfenced for social need. I am posting from a mobile phone and It's doing my head in. The problem with that is the bankers aren't donating to social needs like charities that feed the hungry and clothe the poor....they are being taxed by government on each transaction they make with other companies....so therfore on paper it looks like it will go for social welfare but in the evetuality it doesn't and the social welfare programs become bankrupt because those supposedly looking out for social welfare steal the system blind using the funds to finance politics and warfare.....

alleoops Joined Sat 08/06/11 Posts: 10832	Sat 05/19/12 12:55 PM
Point blank, all taxes are bad, less taxes are good.

Conrad_73 Joined Sat 09/29/07 Posts: 22488	Sat 05/19/12 01:03 PM
http://aynrandlexicon.com/lexicon/taxation.html OK,let the Firestorm start!

Leigh2154 Joined Sun 10/02/11 Posts: 16479	Sat 05/19/12 01:17 PM
http://aynrandlexicon.com/lexicon/taxation.html OK,let the Firestorm start! She's just too smart for the average bear .....

Conrad_73 Joined Sat 09/29/07 Posts: 22488	Sat 05/19/12 01:23 PM
http://aynrandlexicon.com/lexicon/taxation.html OK,let the Firestorm start! She's just too smart for the average bear ..... got that right!

Optomistic69 Joined Mon 10/10/11 Posts: 5173	Sun 05/20/12 06:40 AM
Financiers have always threatened to take their money elsewhere if they do not get their own way. They got their way and totally phucked up..... Invictus this is not about giving more money to governments...its about taxing the financial sector. Really?? Because whenever a government takes a tax for a purpose of helping it ends up getting stolen for something other than waht it was intended like financing politicians and more wars......I thought you were agsinst those types of things.....maybe I pegged you wrong You got me pegged right...The Tax in Question is not for war and certainly not for our political Whoremongers. If it makes the bankers happy the revenues can be ringfenced for social need. I am posting from a mobile phone and It's doing my head in. I hate to break the news to you, but the EU tax proposed by comrade Barroso is to replenish the funds to the ECB loaned out to countries like Greece.. The dear comrade knows they aren't getting the money back.. To imply that this is going to be used for the poor is ridiculous. The Tax that is envisaged in the video is based on it being introduced Globally. If it was introduced Globally then massive problems could be sorted out. Individual countries resist the introduction for selfish purposes and it suits the financial speculators also. Ireland is objecting because it has a fledgling financial sector and gained a lot from low taxes. London wants to steer clear because it will gain advantage by being aloof from the rest of Europe. Until such time as there is a level playing field making money is all about advantage.....not hard work. Who said there was no such thing as a free lunch Ask those that make fortunes while they are asleep