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Securities Turnover Excise Tax
A securities turnover excise tax (STET) is a small tax on every stock, swap, derivative, or other trade. It has been levied historically in the United States and has been proposed more recently as a way to reduce speculation in financial markets. History In the United States, the STET was used to fund the Spanish–American War. Re-instatement of the STET was briefly proposed in 1990 as a part of US deficit reduction measures. Advocacy John Maynard Keynes, in ''The General Theory of Employment, Interest, and Money'' suggested that an excise tax on transactions and trades would discourage speculation in the stock market. In 1934, muckraking journalist and novelist Upton Sinclair ran for Governor of California on the End Poverty in California plan. The fourth plank of the plan called for repeal of the state's sales tax and imposition of "a tax on stock transfers at the rate of 4 cents per share." The STET was a major plank of the 2008 platform of American presidential candida ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Excise Tax
file:Lincoln Beer Stamp 1871.JPG, upright=1.2, 1871 U.S. Revenue stamp for 1/6 barrel of beer. Brewers would receive the stamp sheets, cut them into individual stamps, cancel them, and paste them over the Bunghole, bung of the beer barrel so when the barrel was tapped it would destroy the stamp. An excise, or excise tax, is any duty (economics), duty on manufactured goods (economics), goods that is levied at the moment of manufacture rather than at sale. Excises are often associated with customs duties, which are levied on pre-existing goods when they cross a designated border in a specific direction; customs are levied on goods that become taxable items at the ''border'', while excise is levied on goods that came into existence ''inland''. An excise is considered an indirect tax, meaning that the producer or seller who pays the levy to the government is expected to try to recover their loss by raising the price paid by the eventual buyer of the goods. Excises are typically imp ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sales Tax
A sales tax is a tax paid to a governing body for the sales of certain goods and services. Usually laws allow the seller to collect funds for the tax from the consumer at the point of purchase. When a tax on goods or services is paid to a governing body directly by a consumer, it is usually called a use tax. Often laws provide for the exemption of certain goods or services from sales and use tax, such as food, education, and medicines. A value-added tax (VAT) collected on goods and services is related to a sales tax. See Comparison with sales tax for key differences. Types Conventional or retail sales tax is levied on the sale of a good to its final end-user and is charged every time that item is sold retail. Sales to businesses that later resell the goods are not charged the tax. A purchaser who is not an end-user is usually issued a "resale certificate" by the taxing authority and required to provide the certificate (or its ID number) to a seller at the point of purchase, al ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Stamp Duty
Stamp duty is a tax that is levied on single property purchases or documents (including, historically, the majority of legal documents such as cheques, receipts, military commissions, marriage licences and land transactions). A physical revenue stamp had to be attached to or impressed upon the document to show that stamp duty had been paid before the document was legally effective. More modern versions of the tax no longer require an actual stamp. The duty is thought to have originated in Venice in 1604, being introduced (or re-invented) in Spain in the 1610s, the Spanish Netherlands in the 1620s, France in 1651, Denmark in 1657, Prussia in 1682 and England in 1694. Usage by country Australia The Australian Federal Government does not levy stamp duty. However, stamp duties are levied by the Australian states on various instruments (written documents) and transactions. Stamp duty laws can differ significantly between all eight jurisdictions. The rates of stamp duty also diffe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Robin Hood Tax
The Robin Hood tax is a package of financial transaction taxes (FTT) proposed by a campaigning group of civil society non-governmental organizations (NGOs). Campaigners have suggested the tax could be implemented globally, regionally, or unilaterally by individual nations. Conceptually similar to the Tobin tax (which was proposed for foreign currency exchange only), it would affect a wider range of asset classes including the purchase and sale of bonds, commodities, mutual funds, stocks, unit-trusts, and derivatives such as futures and options. A United-Kingdom-based global campaign for the Robin Hood tax was launched on 10 February 2010 and is being run by a coalition of over 50 charities and organisations, including Christian Aid, Comic Relief and UNICEF. The UK government published a response favouring instead bank levies and a financial activities tax, citing the International Monetary Fund's report to the June 2010 G20 meeting, "A Fair and Substantial Contribution by t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Transaction Tax
A financial transaction tax (FTT) is a levy on a specific type of financial transaction for a particular purpose. The tax has been most commonly associated with the financial sector for transactions involving intangible property rather than real property. It is not usually considered to include consumption taxes paid by consumers. A transaction tax is levied on specific transactions designated as taxable rather than on any other attributes of financial institutions. If an institution is never a party to a taxable transaction, then no transaction tax will be levied from it. If an institution carries out one such transaction, then it will be levied the tax for the one transaction. This tax narrower in scope than a financial activities tax (FAT), and is not directly an industry or sector tax like a Financial stability contribution (FSC), or "bank tax", for example. These distinctions are important in discussions about the utility of financial transaction tax as a tool to selectivel ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Emergency Economic Stabilization Act Of 2008
The Emergency Economic Stabilization Act of 2008, often called the "bank bailout of 2008", was proposed by Treasury Secretary Henry Paulson, passed by the 110th United States Congress, and signed into law by President George W. Bush. It became law as part of Public Law 110-343 on October 3, 2008, in the midst of the financial crisis of 2007–2008. It created the $700 billion Troubled Asset Relief Program (TARP) to purchase toxic assets from banks. The funds were mostly redirected to inject capital into banks and other financial institutions while the United States Department of the Treasury, Treasury continued to examine the usefulness of targeted asset purchases. A financial crisis had developed throughout 2007 and 2008 partly due to a subprime mortgage crisis, causing the failure or near-failure of major financial institutions like Lehman Brothers and American International Group. Seeking to prevent the collapse of the financial system, Secretary of the Treasury Paulson call ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Peter DeFazio
Peter Anthony DeFazio (; born May 27, 1947) is an American politician serving as the U.S. representative for , serving since 1987. He is a member of the Democratic Party. The district includes Eugene, Springfield, Corvallis, Roseburg, Coos Bay and Florence. He chairs the House Transportation Committee and is a founder of the Congressional Progressive Caucus. A native of Massachusetts and a veteran of the United States Air Force Reserve, he previously served as a county commissioner in Lane County, Oregon. He is dean of Oregon's House delegation. On December 1, 2021, DeFazio announced he would not seek reelection in 2022. Early life, education, and pre-congressional career DeFazio was born in 1947 in Needham, Massachusetts, a suburb of Boston. He credits his great-uncle with shaping his politics; that great-uncle almost never said "Republican" without adding "bastard" (or "bastud", as it sounded in a Boston accent). He served in the United States Air Force Reserve from 1967 to 1 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Oregon
Oregon () is a U.S. state, state in the Pacific Northwest region of the Western United States. The Columbia River delineates much of Oregon's northern boundary with Washington (state), Washington, while the Snake River delineates much of its eastern boundary with Idaho. The 42nd parallel north, 42° north parallel delineates the southern boundary with California and Nevada. Oregon has been home to many Indigenous peoples of the Americas, indigenous nations for thousands of years. The first European traders, explorers, and settlers began exploring what is now Oregon's Pacific coast in the early-mid 16th century. As early as 1564, the Spanish expeditions to the Pacific Northwest, Spanish began sending vessels northeast from the Philippines, riding the Kuroshio Current in a sweeping circular route across the northern part of the Pacific. In 1592, Juan de Fuca undertook detailed mapping and studies of ocean currents in the Pacific Northwest, including the Oregon coast as well as ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ralph Nader
Ralph Nader (; born February 27, 1934) is an American political activist, author, lecturer, and attorney noted for his involvement in consumer protection, environmentalism, and government reform causes. The son of Lebanese immigrants to the United States, Nader attended Princeton University and Harvard Law School. He first came to prominence in 1965 with the publication of the bestselling book ''Unsafe at Any Speed'', a highly influential critique of the safety record of American automobile manufacturers. Following the publication of ''Unsafe at Any Speed'', Nader led a group of volunteer law students—dubbed "Nader's Raiders"—in an investigation of the Federal Trade Commission, leading directly to that agency's overhaul and reform. In the 1970s, Nader leveraged his growing popularity to establish a number of advocacy and watchdog groups including the Public Interest Research Group, the Center for Auto Safety, and Public Citizen. Two of Nader's most notable targets were the C ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
End Poverty In California Movement
End Poverty in California (EPIC) was a political campaign started in 1934 by socialist writer Upton Sinclair (best known as author of ''The Jungle''). The movement formed the basis for Sinclair's campaign for Governor of California in 1934. The plan called for a massive public works program, sweeping tax reform, and guaranteed pensions. It gained major popular support, with thousands joining End Poverty Leagues across the state. EPIC never came to fruition due to Sinclair's defeat in the 1934 election, but is seen as an influence on New Deal programs enacted by President Franklin D. Roosevelt. Plan Sinclair laid out his vision for EPIC in his 1933 book ''I, Governor of California, and How I ended Poverty: A True Story of the Future''. Specifically, the plan called for state seizure of idle factories and farm land where the owner had failed to pay property taxes. The government would then hire the unemployed to work on the farms and at the factories. The farms would then operate a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Speculation
In finance, speculation is the purchase of an asset (a commodity, good (economics), goods, or real estate) with the hope that it will become more valuable shortly. (It can also refer to short sales in which the speculator hopes for a decline in value.) Many speculators pay little attention to the fundamental value of a security and instead focus purely on price movements. In principle, speculation can involve any tradable good or financial instrument. Speculators are particularly common in the markets for stocks, bond (finance), bonds, commodity futures, currency, currencies, fine art, collectibles, real estate, and derivative (finance), derivatives. Speculators play one of four primary roles in financial markets, along with hedge (finance), hedgers, who engage in transactions to offset some other pre-existing risk, arbitrageus who seek to profit from situations where Fungibility, fungible instruments trade at different prices in different market segments, and investors who s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Governor Of California
The governor of California is the head of government of the U.S. state of California. The governor is the commander-in-chief of the California National Guard and the California State Guard. Established in the Constitution of California, the governor's responsibilities also include making the annual State of the State address to the California State Legislature, submitting the budget, and ensuring that state laws are enforced. The position was created in 1849, the year before California became a state. The current governor of California is Democrat Gavin Newsom, who was inaugurated on January 7, 2019. Gubernatorial elections, oath, and term of office Qualifications A candidate for governor must be a U.S. citizen and a registered voter within the state, must not have been convicted of a felony involving bribery, embezzlement, or extortion, and must not have served two terms since November 6, 1990. Election and oath of Governor Governors are elected by popular ballot and se ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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