Robin Hood bank tax?
Discussion
Just saw something on the BBC regarding a plan to tax 50p for every 1000 pounds currency traded, in stirling, globally. This is apparently in order to tackle "Climate change" and rejuvenate the economy. Anyone in currency trading care to shed some more in-depth light on it? All I can deduce from the news is anti banking climate change noise. 
so for all trades, bad or good they want a fee on it... and its not 50p on every £1000, its 0.05% of the transaction, starting at 50p per £1000 traded, as well as different amounts per who the transaction is with.
So that means the banks will make no money and could make a loss if the £250billion is to be believed... but wait the bank would just pass the charge onto the buyer of the share... but wait they have thought of this and shares bought by the public are excempt... so really its another swipe at the Financial sector world wide.
So now its figured that its all about hitting the banks for what they can get... I have an idea... its a bit radical and such.. but...
Why dont all the charities/goverments wanting to get involved stop flying round the globe to see cultural things, everyone in those companies take a 10-15% pay cut and donate that to this fund and then come back and suggest it... After all charity begins at home and you must start to show people you are prepared to do it rather than spout utter drivel...
Heres another thought, why dont we merge all charities into 1 and that would save all the duplicate pen pusher jobs and while we are at it, put an indepndant company (no MP is allowed ties to it) in charge of the accounts of the goverment like a permanent audit to keep their sepnding under control after all they themselves waste billions, 100s even a year.
Oh an as a little insider info, guess who came up with this idea???
Winky Mcf
kNut at the G20 summit in Scotland...
Please!!
So that means the banks will make no money and could make a loss if the £250billion is to be believed... but wait the bank would just pass the charge onto the buyer of the share... but wait they have thought of this and shares bought by the public are excempt... so really its another swipe at the Financial sector world wide.
So now its figured that its all about hitting the banks for what they can get... I have an idea... its a bit radical and such.. but...
Why dont all the charities/goverments wanting to get involved stop flying round the globe to see cultural things, everyone in those companies take a 10-15% pay cut and donate that to this fund and then come back and suggest it... After all charity begins at home and you must start to show people you are prepared to do it rather than spout utter drivel...
Heres another thought, why dont we merge all charities into 1 and that would save all the duplicate pen pusher jobs and while we are at it, put an indepndant company (no MP is allowed ties to it) in charge of the accounts of the goverment like a permanent audit to keep their sepnding under control after all they themselves waste billions, 100s even a year.
Oh an as a little insider info, guess who came up with this idea???
Winky Mcf
kNut at the G20 summit in Scotland...Please!!
Guess what - all trades will be booked through Switzerland as soon as they introduce this. The lesson of history from the markets is that when you try to tax them they move. The eurobond market exists only because Kennedy introduced a tax on the bond markets in the US in 1962 that caused all non-domestic dollar bond issuance to move to London.
fking morons.
f
king morons.Zod said:
Guess what - all trades will be booked through Switzerland as soon as they introduce this. The lesson of history from the markets is that when you try to tax them they move. The eurobond market exists only because Kennedy introduced a tax on the bond markets in the US in 1962 that caused all non-domestic dollar bond issuance to move to London.
fking morons.
^^^^^^ This ^^^^^^f
king morons.If they are going to do this they should do all Companies world wide and for every £1000 that is created in the companies (not profit, but sales) they should tax 50p.
To target banking is just envy tax again...
Why banks and not everyone else is just another reason why banks will eventually tell everyone to ps off...
To target banking is just envy tax again...
Why banks and not everyone else is just another reason why banks will eventually tell everyone to p
s off...Dupont666 said:
If they are going to do this they should do all Companies world wide and for every £1000 that is created in the companies (not profit, but sales) they should tax 50p.
To target banking is just envy tax again...
Why banks and not everyone else is just another reason why banks will eventually tell everyone to ps off...
IMO, I think they need to tell a lot of people to pTo target banking is just envy tax again...
Why banks and not everyone else is just another reason why banks will eventually tell everyone to p
s off...s off. If you can't afford to buy something, don't go and get a loan for it, and vice versa.Also, the British government cannot tax all companies worldwide. They are only allowed to ruin our own country.
clarkey318is said:
Dupont666 said:
If they are going to do this they should do all Companies world wide and for every £1000 that is created in the companies (not profit, but sales) they should tax 50p.
To target banking is just envy tax again...
Why banks and not everyone else is just another reason why banks will eventually tell everyone to ps off...
IMO, I think they need to tell a lot of people to pTo target banking is just envy tax again...
Why banks and not everyone else is just another reason why banks will eventually tell everyone to p
s off...s off. If you can't afford to buy something, don't go and get a loan for it, and vice versa.The public complained that the banks were unwilling to lend money out anymore, so the government investigated so see why they wont lend out to people and started asking questions of the banks.... Again
Speaking from ignorance (I am not a banker)...
Assuming this was implemented it would basically be a tax on currency liquidity, like stamp duty on houses. This would just force people to sit on their currency assets, and therefore act as a damper on currency movements.
Which might plausibly be a good thing if currency volatility was a major problem, which is isn't, and in any case people will just find other things to swap, the market will get distorted, and some new class of superficially-brilliant-but-fundamentally-retarded derivative would end up blowing up the system again.
Assuming this was implemented it would basically be a tax on currency liquidity, like stamp duty on houses. This would just force people to sit on their currency assets, and therefore act as a damper on currency movements.
Which might plausibly be a good thing if currency volatility was a major problem, which is isn't, and in any case people will just find other things to swap, the market will get distorted, and some new class of superficially-brilliant-but-fundamentally-retarded derivative would end up blowing up the system again.
Not defending it here, but some of you don't seem to understand:
... the tax would be a worldwide levy, so no business would be lost overseas.
... but of course all countries would have to sign up to it for it to work, and the USA are not keen.
... so it almost certainly won't happen.
As I say, FYI.
... the tax would be a worldwide levy, so no business would be lost overseas.
... but of course all countries would have to sign up to it for it to work, and the USA are not keen.
... so it almost certainly won't happen.
As I say, FYI.
Yet another attempt to grab money from anywhere Gordon thinks he can find it, and damn the consequences.
And, as reported, it will get 'popular' support from many quarters, either because they see 'those nasty bankers' as the enemy, or simply because they feel themselves a likely recipient. And, of course, every banker in Frankfurt, or Paris, or elsewhere, and all the politicians that could gain when the trade moves.
I suspect he is stupid enough to do it unilaterally. Let's pray he doesn't get time.
And, as reported, it will get 'popular' support from many quarters, either because they see 'those nasty bankers' as the enemy, or simply because they feel themselves a likely recipient. And, of course, every banker in Frankfurt, or Paris, or elsewhere, and all the politicians that could gain when the trade moves.
I suspect he is stupid enough to do it unilaterally. Let's pray he doesn't get time.
Slartibartfast was on R4 this evening. His suggestion was to use the billions this trading tax would raise were it to be introduced internationally to pay for action against climate change...... AND.......helping to prevent death in child birth in the 3rd world.
Kin wonderful even that drongo Bono has made the connection between population and energy requirements. These bleedin greens are just thick as a pile of lavatory seats. Why spend money on windmills then increase the population? What a knob
Kin wonderful even that drongo Bono has made the connection between population and energy requirements. These bleedin greens are just thick as a pile of lavatory seats. Why spend money on windmills then increase the population? What a knob
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