David:
Go on, have a guess, I dare you. If the EU gets a Tobin Tax, will it go up or down? What do you reckon?
They are at it again.........
-
David Johnson
- Posts: 7844
- Joined: Fri Jul 14, 2017 2:40 am
Re: They are at it again.........
Well it is hardly going to go down from 0.1 and .01% is it?
Maybe for once in your posting life you could answer the points that I make in reply to you?
Maybe for once in your posting life you could answer the points that I make in reply to you?
-
frankthring
- Posts: 962
- Joined: Fri Jul 14, 2017 2:40 am
Re: They are at it again.........
Surely, David, bankers have always been big supporters of the Tory Party ?
No doubt you can tell me of some occasion when a bank was firmly behind
the socialists, but big business, the financial sector generally and the Tories
must go hand in hand. Its like night following day...
-
David Johnson
- Posts: 7844
- Joined: Fri Jul 14, 2017 2:40 am
Re: They are at it again.........
What is particularly marked now with the influx of City cash since Cameron was elected is that the Tory government as never before is the political wing of the City of London financial world. Half of all funding and most of that from hedge funds has come from the finance sector.
Re: They are at it again.........
David:
You seem unwilling to confront the fact that the EU is an undemocratic construction, and was designed from the start to be so. It is a body whereby wise bureaucrats can govern Europe through the proxy of national governments, ensuring, in theory, that Europe will never go to war with itself again. Of course, this is an evolutionary process, but if you give the EU Commission access to its own independent tax raising powers, then it is certain that its power and influence will increase, and just as certain that its tax rate will also only ever go up. The fact that this will hobble a business which is strong in Britain but weak in France and Germany is a bonus in their eyes.
You seem unwilling to confront the fact that the EU is an undemocratic construction, and was designed from the start to be so. It is a body whereby wise bureaucrats can govern Europe through the proxy of national governments, ensuring, in theory, that Europe will never go to war with itself again. Of course, this is an evolutionary process, but if you give the EU Commission access to its own independent tax raising powers, then it is certain that its power and influence will increase, and just as certain that its tax rate will also only ever go up. The fact that this will hobble a business which is strong in Britain but weak in France and Germany is a bonus in their eyes.
-
David Johnson
- Posts: 7844
- Joined: Fri Jul 14, 2017 2:40 am
Re: They are at it again.........
Just to remind you of MY points that you totally ignore.
Would you relocate your entire organisation to Switzerland if a 0.1% tax was introduced which is what is mooted?
This is symptomatic of the won't say boo to an investment bank scenario, followed both by Labour and Tory governments which helped us get in the global financial mess that we are in.
Can't possibly do anything at all remotely unpleasant to an investment bank or they will bugger off. Much better to hammer the poor. They dont complain as much, nor do they pay so much in funding to Tory Central Office Eh?
Secondly, your argument i.e. investment banks might relocate to Switzerland could be used for any move to control/tax the banking industry. THis is a recipe for doing nothing which is why we got in this mess in the first place.
Alternatively to wait until a worldwide measure(s) can be brought in is living in cloud cuckoo land. It will never happen.
I will leave you to carry on having a conversation with yourself. Alternatively instead of hijacking my thread which you may have noticed is about the Tories and the finance sector, why don't you start your own on the undemocratic nature of the EU? I'm sure you will get a lot of interest.
CHeers
D
Would you relocate your entire organisation to Switzerland if a 0.1% tax was introduced which is what is mooted?
This is symptomatic of the won't say boo to an investment bank scenario, followed both by Labour and Tory governments which helped us get in the global financial mess that we are in.
Can't possibly do anything at all remotely unpleasant to an investment bank or they will bugger off. Much better to hammer the poor. They dont complain as much, nor do they pay so much in funding to Tory Central Office Eh?
Secondly, your argument i.e. investment banks might relocate to Switzerland could be used for any move to control/tax the banking industry. THis is a recipe for doing nothing which is why we got in this mess in the first place.
Alternatively to wait until a worldwide measure(s) can be brought in is living in cloud cuckoo land. It will never happen.
I will leave you to carry on having a conversation with yourself. Alternatively instead of hijacking my thread which you may have noticed is about the Tories and the finance sector, why don't you start your own on the undemocratic nature of the EU? I'm sure you will get a lot of interest.
CHeers
D
Re: They are at it again.........
David:
My point to you is that once established, a Tobin Tax will not stay at 0.1%. That's a racing certainty. If you give the EU Commission their own tax revenue stream, they will use it and come back for more. Has any bureaucracy ever done differently? I don't care if the EU Commission wanted its own tax on financial transactions, or sales of cars (obviously the French and Geemans wouldn't stand for that), they need to be starved, not given their own source of income.
My point to you is that once established, a Tobin Tax will not stay at 0.1%. That's a racing certainty. If you give the EU Commission their own tax revenue stream, they will use it and come back for more. Has any bureaucracy ever done differently? I don't care if the EU Commission wanted its own tax on financial transactions, or sales of cars (obviously the French and Geemans wouldn't stand for that), they need to be starved, not given their own source of income.