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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
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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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