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The Tobin tax wouldn't be bad, either.

Nothing is 'mere'. — Richard P. Feynman
by Migeru (migeru at eurotrib dot com) on Sun Sep 10th, 2006 at 03:41:34 PM EST
[ Parent ]
Well I didn't want to mention that for fear J would call me a crackpot again....

You can't be me, I'm taken
by Sven Triloqvist on Sun Sep 10th, 2006 at 03:46:32 PM EST
[ Parent ]
The introduction  of a substantial overnment transfer tax on all transactions might prove the most serviceable reform available, with a view to mitigating the predominance of speculation over enterprise in the United States.
Tobin and Keynes agree.

Nothing is 'mere'. — Richard P. Feynman
by Migeru (migeru at eurotrib dot com) on Sun Sep 10th, 2006 at 03:48:23 PM EST
[ Parent ]
Poor Tobin is a little discredited these days, but I still find merit in the idea that all financial transactions should be taxed at a fixed rate (which I have seen quoted as around 6%).

This would apply to all transactions, including right down to getting cash from an ATM.

This has to be set against having no other personal or corporate taxes on income. So it would be 6% flat.

The real benefit would be that a small footprint lifetsyle could lead you to feel great dignity.

You can't be me, I'm taken

by Sven Triloqvist on Sun Sep 10th, 2006 at 03:55:17 PM EST
[ Parent ]
6% !!!

I though the Tobin Tax was a minute amount, designed to slow down huge, frequent international finance transactions but to leave alone the individual investors.

Nothing is 'mere'. — Richard P. Feynman

by Migeru (migeru at eurotrib dot com) on Sun Sep 10th, 2006 at 04:08:36 PM EST
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