Tuesday, November 29, 2011

Tax:  Tax Financial Transactions?

... then there's the idea of taxing financial transactions, which have exploded in recent decades. The economic value of all this trading is dubious at best. In fact, there's considerable evidence suggesting that too much trading is going on. Still, nobody is proposing a punitive tax. On the table, instead, are proposals like the one recently made by Senator Tom Harkin and Representative Peter DeFazio for a tiny fee on financial transactions.
... some countries already have financial transactions taxes — and that among those who do are Hong Kong and Singapore.

For more, see Things to Tax by Paul Krugman, November 27, 2011 at NYTimes.com.

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