The Potential Revenue from Financial Transactions Taxes
The economic crisis of the last two years has led to serious concerns about the sharp growth in the federal government’s fiscal deficit as well as the government’s overall debt burden as a share of total U.S. GDP. Many analysts also believe that an excessive share of the economy’s resources is being consumed by the financial sector. A financial transactions or trading tax is a policy tool that can address both issues: raising a substantial amount of revenue and reducing the size of financial trading in the U.S. economy relative to the economy’s level of productive activity. This paper calculates the revenue potential from a set of financial trading taxes. It updates an earlier set of calculations, using a similar methodology.
|Date of creation:||2009|
|Date of revision:|
|Contact details of provider:|| Postal: 418 N Pleasant St, Amherst MA 01002|
Phone: (413) 545-6355
Fax: (413) 545-2921
Web page: http://www.peri.umass.edu/
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:uma:periwp:wp212. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Judy Fogg)
If references are entirely missing, you can add them using this form.