Bruce Bartlett's newly posted Tax Notes
column criticizing financial transactions taxes (FTTs) reminded me that, while James Tobin is often considered the FTT's grandfather due to his 1970s advocacy of a tax on currency exchange transactions, John Maynard Keynes offered a seemingly very similar rationale for a tax on securities trades. However, I may argue in my paper that, insofar as the rationales can be teased apart, Keynes' actually stands up better today than Tobin's.
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