Just how do you enforce a global bank tax anyway?

http://www.winnipegsun.com/news/canada/2010/06/03/14239776.html


I really dont understand how this is even remotely enforceable.

BS tax... I expect it won't be a matter of "enforcement" rather than a matter of agreeing to impose it and then following through. I guess much like other international agreements.

The United Nations will look after this, as they have a proven track record of imposing sanctions on Countries!

I agree that every bank transaction should be taxed and the money put into an insurance fund to back up all banks.
Why our dumb ass politicians don't want to tax "our" very profitable banks is just grandstanding , as far as I am concerned.
Our banks just made 6 billion dollars in the last quarter. Why shouldn't a small transaction tax not work? All they will have to do is increase the $40 NSF fees to $40.01. lol

Would a bank tax affect credit unions?

The way I read it, it would have nothing to do with individuals.

It would only affect banks doing business with other countries (most do).

I think the idea is to create a tax that everyone will impose to do business with each other, in order to generate revenue to build a stable base for future recessions (instead of government bailouts).

By making it global and a "tax" rather than a "fee", it requires the banks to actually collect it (instead of waiving a fee) and contribute to a global economical fund.

It also has to be as "global" as possible, or else it will impact countries negatively. If say 10 countries decide to implement a tax, and 20 don't...how many countries are going to do business with the 10 that do?

I'm not sure I understand exactly why they are considering this tax. Why not let the current conditions force banking systems across the world to act more prudently in their lending practices instead of creating some large fund that each country can dip into when they went and made a whole whack of bad lending/financing decisions all over again?

There should be no global bank tax.

There should be more accountability of 3rd world leaders. Stop spending the money we give you for palaces, personal jets and gold plated cars. That money is to feed your people and to upgrade their quality of life.
The Amount of money these leaders spend could easily buy desalination plants to provide clean water to its people.

I am sick of hearing about how bad off they are, Billions and Billions have been pumped into 3rd world countries. What do we have to show for all that spent money? 3rd world countries with huge armies, opulent palaces and mansions for governing officials and a huge propaganda machine asking for more money.

I call shenanigans, It is time to cut these countries off. I would love to see Mother Nature take care of the problem.