Comments on: A “Tobin” tax is workable

By: John Rendel

John Rendel — Wed, 16 Dec 2009 19:57:13 +0000

If we can coordinate an international response to climate change (let’s hope we can) we can coordinate a multi-lateral Tobin tax. Practically, linking the latter to the former makes a lot of sense as it will set up the apparatus to maintain such a tax after managing the transition to a low-carbon world economy. We should back Ethiopia’s recent plan on this even if that is the only positive thing to come out of Ethiopia since the Queen of Sheba.

By: City fat cats taking us to the cleaners | Left Foot Forward

City fat cats taking us to the cleaners | Left Foot Forward — Mon, 14 Dec 2009 13:43:39 +0000

[...] tax to reduce high risk and unsustainable trading, the feasiblility of which Left Foot Forward outlined earlier [...]

By: Daniel

Daniel — Mon, 14 Dec 2009 13:01:03 +0000

A Tobin tax is totally unworkable. How do you control a Sterling transaction done in Tokyo, for example. We can’t invade other countries tax jurisdictions. All that would happen is that most financial dealing would go offshore, to somewhere with no Tobin tax.

That is a moot point though. Sure you could possibly raise $700bn a year taxing every financial transaction in sight, but where is that money going to come from? The biggest banks in the world, grouped together, aren’t worth that much.

All that would happen, is that any costs associated with such a Tax would simply be passed down to the end user; in this case other businesses and individuals. Higher taxes slow down growth. I would have thought the best anti-poverty measure would be allow businesses to grow and thus employ people.

By: neilrfoster

neilrfoster — Mon, 14 Dec 2009 11:14:51 +0000

RT @CoopParty: RT @leftfootfwd: A “Tobin” tax is workable: http://is.gd/5mGwt

By: Ben Furber

Ben Furber — Mon, 14 Dec 2009 11:12:13 +0000