I notice a new site has appeared http://www.ceedweb.org/iirp/ "Tobin Tax Initative" it is the second entry when you do a google search on 'Tobin Tax'
Actually, that's a very old (in Internet time) site. Click on the first "(NEW!)" document link. It's one of Defazio's transaction tax attempts from the year 2000. He teamed up with the late Paul Wellstone for that one.
A nice quote from Mervyn King, Governer of the Bank of England: "... Mr King dismissed the idea of a âTobin taxâ, pitting himself against the government. The idea was floated by Prime Minister Gordon Brown, and is said to be gathering support. âOf all the components of radical reform, I think a Tobin tax is bottom of the list,â said Mr King. âItâs not thought to be the answer to the too big to fail problem - thereâs much more support for the idea of a US-type levy.â http://blogs.ft.com/money-supply/2010/01/26/mervyn-king-radical-reform-is-needed/
This is particularly pleasing as Cameron has said that should the Tories win the election they plan to scrap the FSA, and beef up The Bank of England's role in regulation. If so, it's goodbye (socially useless!)Adair Turner of the FSA and hello Mervyn King.
Hello everyone, I just posted a small comment in the independant link. Personally I think this tobin tax proposition is something Brown needs to cling onto for the next few months. He will do everything he can to advertise this tax to the world and to try appease the angry public. A cheap bid for the electorate if you ask me. I am not too worried about this tobin tax for now, but it will be in the back of my head untill Brown is elected out. There simply isnt enough support for this tax globally, it will need years for everyone to agree on it. The reality is that Brown is down and he will be out by the summer. The labour party has been in power for too long, 13 years now. The people are getting tired of them. Its the usual cycle...now its the conservatives turn. The conservative party are full of businessmen and traditionally have always been against taxes..they were against the ''50p'' tax, they are against this tobin tax proposal. Its time to stop taxing everything and everyone!
Senate rejects Obama-backed deficit task force: http://finance.yahoo.com/news/CBO-F...4.html?x=0&sec=topStories&pos=1&asset=&ccode= "Now, Obama may create a weaker version by a presidential order. But unlike the plan rejected Tuesday, there's no way to force a Senate vote." -Guru
Another excellent column by David Brooks in the NY Times. http://www.nytimes.com/2010/01/26/opinion/26brooks.html?hp In which he includes the following: Hamilton championed capital markets and Lincoln championed banks, not because they loved traders and bankers. They did it because they knew a vibrant capitalist economy would maximize opportunity for poor boys like themselves. They were willing to tolerate the excesses of traders because they understood that no institution is more likely to channel opportunity to new groups and new people than vigorous financial markets.