The Overselling of Financial Transaction Taxes
However November’s US presidential election turns out, one proposal that will likely live on is the introduction of a financial transaction tax. But a properly designed levy can be no more than a small part of a much larger strategy, whether for reforming the tax system or for regulating financial markets.
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CAMBRIDGE – However November’s presidential election in the United States turns out, one proposal that will likely live on is the introduction of a financial transaction tax (FTT). While by no means a crazy idea, an FTT is hardly the panacea that its hard-left advocates hold it out to be. It is certainly a poor substitute for deeper tax reform aimed at making the system simpler, more transparent, and more progressive.