I write this article as a commentary on Paul Krugman's support of a Tobin tax on all financial transactions.
It has gained steam lately after being picked up by British leaders including the top financial regulators and the prime minister as the Turner-Brown proposal. When French President Chirac would say this a few years ago, everybody laughed at him....
I think putting incentives that may or may not be short of a tax aimed at directing hedging and speculative activities on securitizing BICs that mirror the value of target underlyings without having an effect on them is the farsighted and most effective proposal that still stimulates rather than slow down economic activity.
"Turner-Brown"
- Op-Ed Columnist - Taxing the Speculators - NYTimes.com (view on Google Sidewiki)
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