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enabling:all_states_shall_support_sdgs_tax_wealth_and_financial_transactions_and_redistribute_funds_equitably

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enabling:all_states_shall_support_sdgs_tax_wealth_and_financial_transactions_and_redistribute_funds_equitably [2019/05/08 20:08]
174.119.132.9
enabling:all_states_shall_support_sdgs_tax_wealth_and_financial_transactions_and_redistribute_funds_equitably [2019/05/10 12:35] (current)
173.32.226.16 [1. Tobin's Tax in brief]
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 ==== 1. Tobin'​s Tax in brief ==== ==== 1. Tobin'​s Tax in brief ====
  
-Much human interaction has been increasingly globalized. That includes participation in financial investment, communications and trade, some of which involves negative planet-wide environmental,​ military and development impacts. Yet taxation has overall remained in the domain of national jurisdictionsprimarily because national governments have been reluctant to give up their sovereign control over tax revenues. There are political implications to international taxation being levied by international institutions,​ although no more so than the international spheres already commanding virtually every other human activity. As was pointed out in one 1996 study on the potential for generating international taxation revenue, "​economic liberalization and the internationalization of markets, especially that of financial markets, have affected the taxation capacity of nation-states. Global taxes, such as the Tobin tax,​ applied across all countries, could help restore some of the taxation power governments have lost in these globalization processes."​((Kaul and Langmore in "​The Tobin Tax",​ 1996))+Much human interaction has been increasingly globalized. That includes participation in financial investment, communications and trade, some of which involves negative planet-wide environmental,​ military and development impacts. Yet taxation has overall remained in the domain of national jurisdictions ​-- primarily because national governments have been reluctant to give up their sovereign control over tax revenues. There are political implications to international taxation being levied by international institutions,​ although no more so than the international spheres already commanding virtually every other human activity. As was pointed out in one 1996 study on the potential for generating international taxation revenue, "​economic liberalization and the internationalization of markets, especially that of financial markets, have affected the taxation capacity of nation-states. Global taxes, such as the Tobin tax,​ applied across all countries, could help restore some of the taxation power governments have lost in these globalization processes."​((Kaul and Langmore in "​The Tobin Tax",​ 1996))
  
 James Tobin,​ in 1972 at Princeton University, proposed a levy on international currency transactions as a way to "​preserve some possibilities of autonomy in national or continental monetary policies"​ that were wracked by the anarchy of money markets. He initially proposed that a 1%, and later a 0.5% tax on currency conversions should be considered a means to deter rampant quick-turnaround currency speculation,​ and as a bonus, also a way to generate significant revenue through a relatively small penalty. James Tobin,​ in 1972 at Princeton University, proposed a levy on international currency transactions as a way to "​preserve some possibilities of autonomy in national or continental monetary policies"​ that were wracked by the anarchy of money markets. He initially proposed that a 1%, and later a 0.5% tax on currency conversions should be considered a means to deter rampant quick-turnaround currency speculation,​ and as a bonus, also a way to generate significant revenue through a relatively small penalty.
enabling/all_states_shall_support_sdgs_tax_wealth_and_financial_transactions_and_redistribute_funds_equitably.txt · Last modified: 2019/05/10 12:35 by 173.32.226.16