TRADERS ADVOCACY
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HomeFinancial-Transaction Tax (FTT)
A financial-transaction tax could put all business traders out of business.
Latest video interview with Robert Green on FTT:
A Law That Would Put You Out of Business - an update on financial-transaction tax proposals. Feb. 19, 2012 at the Traders Expo NYC.
Transaction Tax Suffers Big Setback. Nov. 18, 2011 at the Las Vegas Traders Expo 2011.
Latest blog article from Robert Green on Forbes.com
Robert A. Green of Traders Advocacy put the group's efforts into high gear in January 2009 to fight Congress proposal for a wide-scale financial-transaction tax (FTT), which would have a devastating impact on traders and the entire industry. Traders have been successful to date in fighting off a FTT in the U.S. and globally. But, an FTT is being hotly debated in the EU, and OWS protesters and unions are calling for it in the U.S. We need to keep fighting against an FTT.
The Wall Street tax campaigns and OWS are denigrating the role of traders in society. One of Traders Advocacy’s missions is to improve the public’s perception of traders. Trading is not about selfish greed. Rather, traders play an important role in society as market makers, liquidity providers, and speculators when others may abandon markets. Without traders, market prices would be lower for sellers and higher for buyers. Market volatility would be even greater than it is now with the debt crisis in the U.S. and Europe. Most traders live on Main Street, not Wall Street and come from all walks of life. Many lost their jobs and are trying to trade as a business to make a living for their families. Some trade to support their communities, rather than being a drain on their neighbors and relying on government support. Traders include teachers, firefighters, veterans, union members, IT people, workers laid off from the housing markets, young people who can’t find a job, stay-at-home parents, early retirees and more. We agree with reform and accountability for unethical behavior on Wall Street, but we don’t agree with putting Main Street traders out of business with a shotgun approach financial transaction tax.
Recently, Germany and France have been pushing an FTT hard as part of their solution for the EU debt crisis and PIIGS bailouts.
Robert A. Green posts comments on media, social media and elsewhere on a daily basis. Although it's unfeasible to post every link to his comments here, you can read many of them on a key thread used to fight against the FTT. Read the thread "1/4% Tax on all stock trades pushed in NY Times today" on EliteTrader.com.
See our blogs, petitions and video below.
Green's FTT Blogs:
Dec 0811 - While Europe Slides, Germany Plays Hardball.
Jun 28 11 - Financial-Transaction Tax Threat Update
Sep 07 10 - Lukewarm reception for FTT at EU meeting
Sep 06 10 - EU to discuss bank levy, FTT
May 21 10 - German resurgence
May 20 10 - Germany calls for FTT
Jan 27 10 - Journalist asks thoughts on FTT
Jan 14 10 - Will Congress pass the bank tax?
Jan 13 10 - Levy is insurance premium for banks
Jan 12 10 - President Obama supports a bank levy over FT tax
Jan 09 10 - Latest press release
Dec 08 09 - Reply to The Hill's opinion piece
Dec 08 09 - "1/4% Tax on all stock trades pushed in NY Times today"
Dec 03 09 - Response to economists' support of FT tax
Nov 25 09 - Financial-transaction tax: Not dead globally
Nov 19 09 - Financial-transaction tax update 1 (11/19)
Aug 06 09 - Traders Association
Help us BLOCK these signs.
Petitions:
Older Petitions:
Our first petition, "Save Traders' Jobs: Do Not Enact a Financial-Transaction Tax," was very successful. Many signers received replies from their Congressmen.
Second petition, "A financial-transaction tax is detrimental to many industries." We consolidated several points into this short and effective letter written by Robert A. Green. This second petition focuses on all market users, including retail investors, farmers, and other industries.
We are preparing new petitions soon.
MoneyShow.com interviews with Robert A. Green, CPA:
Transaction Tax Suffers Big Setback. Nov. 18, 2011
Transaction Tax Could Shut You Down. Feb. 21. 2011
Trader Tax Threats. Feb. 16, 2010
Don’t Penalize All Investors. Nov. 21, 2009
Trader Tax Fears. July 16, 2009
