I don´t understand... Where the hell is Tobin in the Agenda?
I don´t understand...
In the times we are living today, with all this financial crisis histeria, where all economists go out and try to explain what is going on, how did we get to this financial situation, what´s the genesis of this financial crisis, subprimes, interbank borrowing fluxes on hold, morgages, house-prices, 1920, where we see Countries, world Goverments and Central Banks hand-in-hand, sharing strategies, sharing on financial remedies, feeding the poor banks with goverment (our) money, and economists and intelectuals start to write books and papers about "Now what?" and "This system as failed" or "This will go as it as to go - follow the leader", I see an opportunity to speak LOUD and CLEAR about the Tobin Tax.
My Definition:
The Tobin tax is based on the taxation on every single transaction in the short term Financial Market. It should be apply between 0.1% and 0,25% on the value of the financial product.
"Taxa Tobin" seria na verdade um imposto e não uma taxa, que se aplicaria sobre cada transacçao no mercado de valores de curto prazo, devendo variar entre 0.1% e 0.25%.
James Tobin (premio nobel 1981)
wiki definition:
A Tobin tax is the suggested tax on all trade of currency across borders. Named after the economist James Tobin, the tax is intended to put a penalty on short-term speculation in currencies. The original tax rate he proposed was 1%, which was subsequently lowered to between 0.1% and 0.25%.
It was originally assumed that the Tobin tax would require multilateral implementation (LIKE NOW!), since one country acting alone would find it very difficult to implement this tax. Many people have therefore argued that it would be best implemented by an international institution. It has been proposed that having the United Nations manage a Tobin tax would solve this problem and would give the U.N. a large source of funding independent from donations by participating states. However, there have also been initiatives of national dimension about the tax
NOTE: ATTAC, you should try as hard as you can to be in the agenda... It is now or (maybe) never...
would you like to know more?
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posted by Dv at Wednesday, October 29, 2008
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