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The Tobin Tax

Frederic Donnedieu and Michel Taly of Taxand place the so-called Tobin tax in context and consider its chances of coming into being
The prospect of emergence from the global financial crisis has set the scene for confrontation between those who want everything to go back to how it was before and those who claim that nothing will ever be the same again. Politicians who generally adopt the second line of argument try to give their views credibility by adopting a whole variety of initiatives. Alongside proposals for new regulations and the taxation of bonuses they have brought back the idea of a Tobin tax: a widespread tax on financial transactions. In the eyes of those in favour of this tax it would only have benefits: it would discourage speculation...

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