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The Benefits of a Financial Transactions Tax

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Author Info
Dean Baker

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Abstract

The recent economic turmoil has generated renewed interest in a financial transactions tax (FTT). While such a tax will be vigorously opposed by the financial industry, it offers a very attractive mechanism for raising revenue that is arguably efficiency-enhancing. Calculations based on 2000 trading volumes showed that a set of scaled transactions taxes, imposed on transfers of stock and other financial assets, could raise more than $100 billion a year, even assuming large reductions in trading volume.

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File URL: http://www.cepr.net/documents/publications/financial-transactions-tax-2008-12.pdf
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Publisher Info
Paper provided by Center for Economic and Policy Research (CEPR) in its series CEPR Reports and Issue Briefs with number 2008-35.

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Length: 7 pages
Date of creation: Dec 2008
Date of revision:
Handle: RePEc:epo:papers:2008-35

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Related research
Keywords: financial taxes; financial transactions; economic crisis; financial crisis;

Find related papers by JEL classification:
G - Financial Economics
G1 - Financial Economics - - General Financial Markets
G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
G2 - Financial Economics - - Financial Institutions and Services
G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage
G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
G3 - Financial Economics - - Corporate Finance and Governance
G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation

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This page was last updated on 2009-11-14.

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