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Financial Transaction Taxes in Theory and Practice
Report

Financial Transaction Taxes in Theory and Practice

Brookings Institution, 2015 更多详情

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Editorial Rating

8

Qualities

  • Comprehensive
  • Analytical
  • Innovative

Recommendation

One idea to curb the excesses of the American financial sector centers on instituting a financial transactions tax. While this sort of tax, imposed on the purchase and sale of financial securities, sounds simple in theory, it could be quite complex in practice. The authors, policy experts from the Urban Institute and the Brookings Institution, explore the issues and find that a US financial transaction tax may be a mixed blessing. Though their report reaches no definitive conclusion, it examines a number of issues and provides comprehensive food for thought. getAbstract suggests this cogent analysis to policy makers, financial services professionals and investors.

Take-Aways

  • Notables such as Joseph Stiglitz, Bill Gates and George Soros support a financial transactions tax (FTT) on the purchase and sale of securities in the United States.
  • A number of nations have or are negotiating FTTs, which range from 0.3% to 0.5% of the market price of a stock, bond or derivative.
  • Advocates say that an FTT would limit speculative trading, volatility and asset bubbles. Opponents point to its potential to reduce useful trading and speculative trading, thereby dampening liquidity, increasing capital costs and depressing investment.

About the Authors

Leonard E. Burman, Sarah Gault, Jim Nunns and Steve Rosenthal work at the Urban Institute. William G. Gale and Bryan Kim work at the Brookings Institution.


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