The Benefits of a Financial Transactions Tax

Dean Baker
Authors registered in the RePEc Author Service: Mark Weisbrot

CEPR Reports and Issue Briefs from Center for Economic and Policy Research (CEPR)

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.

Keywords: financial taxes; financial transactions; economic crisis; financial crisis (search for similar items in EconPapers)
JEL-codes: G G1 G18 G2 G24 G28 G3 G38 (search for similar items in EconPapers)
Pages: 7 pages
Date: 2008-12
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Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:epo:papers:2008-35

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